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Gold/Mining/Energy : Gold Price Monitor
GDXJ 96.04-1.4%Nov 17 4:00 PM EST
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To: whiskeyjack who wrote (30001)3/14/1999 12:20:00 PM
From: Little Joe  Read Replies (2) of 116762
 
I haven't seen his letter but I do agree with you on his smarts. The guy knows what he is doing and the fact that he is nervous about the market is more than enough to make me nervous. The real question is how is he hedging his bets. My understanding is that he has moved into bonds, probably has a large silver position as far as I know.

The real issue is: How will this economy resolve? The stock market can't go up forever and is long overdue for a real correction i.e. bear market. A lot of folks in the market have never seen a bear market and have no appreciation for the fact that even a normal 1/2 to 2/3 correction could put the DOW in the 6,000.00 area. Clearly policy makers understand the economic consequences of this and the risk involved. If they don't liquify the economy tremendously, we will have a depression. On the other hand if they pump up the money, we will see inflation. It looks to me that Buffet may be trying to hedge either way. By the way does his report indicate that he has any position in oil stocks?

I think if we could figure out what Buffett is doing we may be able to predict how this resolves. My current belief is that the money supply is being increased and we will see inflation before too long.

Live long and prosper,

Little joe
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