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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: wooden ships who wrote (5304)6/1/1998 1:15:00 AM
From: wooden ships  Read Replies (2) of 42834
 
This weekend's "Barron's" reported that the inimitable Mr. Buffett
"continued to harvest gains in the first quarter(1998). Berkshire
Hathaway realized $470 million in investment gains in the period.
It's possible that those gains came from sales of zero-coupon
Treasury bonds, but it's a good bet that Buffett sold a small
portion of Berkshire stock holdings after unloading net $1.3
billion of equities in 1997." This Big Boy appears to be light-
ening up.

As an aside, "COINage Magazine"(June 1998) cited a report by
the "Financial Times of London" which posited that Warren Buffet,
having accumulated "20% of all available silver," proceeded to sell
off 30% of his silver hoard at an average price of $7.10 the Troy
ounce "for a quick profit of $80 million." It should be noted that,
by most accounts, Buffett originally purchased nearly 130 million
Troy ounces of silver. His cost has been estimated in the vicinity
of $650 million which sum itself represents only about 2% of Buf-
fett's holdings, this according to "COINage." It would be interest-
ing to learn whether this reported $80 million profit from the silver
sale has been booked into Berkshire's first quarter's realized gains
of $470 million, the sum noted by "Barron's."
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