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To: Trader X who wrote (14227)	6/2/1998 11:15:00 PM
From: Jeffrey S. Mitchell	Read Replies (2) of 17305

Re: Trading strategy: short the masses We saw how the masses jumped all over ENMD and got raked over the coals. How about all those that jumped on Warren Buffet's silver bandwagon? Not feeling so good right now I suspect. Today's NY Times talked about how silver was trading at 6.615 an ounce on 2/3/98 when Buffet announced he had been accumulating it. The price then shot up to as high as $7.40 on 2/5/98 after the masses jumped in. But what the public failed to realize was that Buffet had been buying silver since 7/25/97 when it was $4.32, which means it had already risen 53% by February. Guess what. Silver is now close to $5.00 an ounce. Even Buffet is estimated to be down 2.1% ($14.1M) on his purchase. Moral: if you want to do as the experts do, just make sure you do it when they do it! - Jeff

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