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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: tonto who wrote (46134)	11/3/1999 10:15:00 AM
From: tonto	Respond to of 122087

CHAR. It appears there is credibility behind the Bill Gates involvement: (stock has yet to re-open) IBChannel.com Announces Investment Opinion: Bill Gates and Warren Buffet ...Buy Metals! IRVINE, Calif.--(BUSINESS WIRE)--Sept. 30, 1999--Microsoft Corp (Nasdaq: MSFT) Chairman Bill Gates has taken over a 10 percent stake in mining company Pan American Silver Corp. (Nasdaq: PAAS), following Warren Buffett into the precious metals. Last year Buffett had bought 130 million ounces of the metal, or 20 percent of the world's annual supply. Recently he has declined to comment on his position. Pan American Silver is a pure play silver miner with 760 million ounces of reserves, was up 2/16 at 6-11/16 in Nasdaq trading, giving Gates' $21 million value. Gates paid about $5 a share for an investment of about $16 million. The disclosure of the Gates investment represents a new respect for silver, which has rallied recently. Gates' investment vehicle Cascade Investment LLC began building its position aggressively in February of this year and currently has a stake of 3.15 million shares according to a document filed this week with the U.S. Securities and Exchange Commission. In addition to his $72 billion in Microsoft stock, Gates, the world's richest individual, also has an estimated $5 billion in other assets following several years of diversification. About 70 percent of that external portfolio is in short-term government and corporate bonds, with about 10 percent in publicly traded stocks like Pan American, according to Fortune magazine. Gates also owns substantial stakes in Chaparral Resources Inc. (Nasdaq: CHAR), which is developing oil and gas resources in Kazakhstan; Schnitzer Steel Industries Inc. (Nasdaq: SCHN); and biotech company ICOS Corp. IBC (www.ibchannel.com) recently acquired a 4% equity position in gold producer Commerce (Symbol: CGCO). A 10Q is currently available at finance.yahoo.com . Legal disclaimer: visit ibchannel.com.