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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (27064)	12/30/2007 1:14:49 AM
From: elmatador	Read Replies (1) \| Respond to of 219928

Bank in trouble didn't want SWF, asked Buffet. Was rebufed. Buffett turns down bank in need Graeme Wearden Guardian Unlimited, Thursday December 27 2007 US investor Warren Buffett has rebuffed approaches from at least one bank looking for financial assistance to help it through the credit crunch. Buffett, dubbed the "Sage of Omaha" after decades of successful stock picking, revealed yesterday that he had turned down an approach from a major financial institution that had hoped to persuade him to invest in them. "So far we have not seen a deal that causes me to start salivating," said Buffett in an interview with CNBC. He was speaking after his investment vehicle Berkshire Hathaway spent $4.5bn (£2.26bn) on a majority stake in Marmon, a US industrial conglomerate, in one of its biggest ever acquisitions. Several investment banks have sold stakes to outside investors after getting caught in the fallout from the US sub-prime crisis. Abu Dhabi's sovereign wealth fund is pumping $7.5bn into Citigroup, and Merrill Lynch has agreed a cash infusion of as much as $6.2bn from Singapore's Temasek fund. Buffett had been rumoured to be planning a similar move into the financial sector. The Marmon deal led some analysts to suggest that the banking industry may not yet have hit the bottom, even though share prices have fallen sharply in recent months. Marmon consists of 125 different businesses, in sectors including transportation equipment, construction and electrical components. Their products include railroad cars, wire and cable, and water treatment kits. Buffett described the deal as "a very large bet on America over a long period of time". Berkshire Hathaway has taken a 60% stake in the firm, and will buy the rest over the next seven years.

To: TobagoJack who wrote (27064)	12/30/2007 10:03:04 AM
From: carranza2	Read Replies (2) \| Respond to of 219928

We are in general agreement, though I don't see gold getting so volatile. I think gold is going to hit 1200 because IMO that is its fair value now. Like you, I have a fair chunk in currencies. USD in Treasuries is no. 1 followed by equal weight in Yen and Swiss Fr. for insurance. We shall see. Still have BQI parked in a dark corner where I will not see or play with it. Like the bottle of good port I bought when my son was born, intended for consumption when he reaches age 21 ten years from now, BQI will age, mature, become extravagantly valuable in the fullness of time. I think of Sonus much as I do BQI. I have been buying at ridiculously low prices after presciently and shrewdly selling off a large position before a major downdraft. I am finally feeling a bit competent in the dark art of selling, after taking many painful baby steps for years. I am in my mind competing with a Kiwi billionaire, no, not Mq, who bought at ridiculously inflated prices. He now holds about 25% of the company for a Buffett like investment but at an average a price substantially higher than mine. So far, I have him smoked, but he unfortunately does not know it. Sonus is also in my wine cooler, aging gracefully, being slandered by those who do not know that a premier wine does not always show its value until sometimes decades after bottling. Agriculturals are both for aging and for instant gratification. I intend to take profits on the 2x leveraged commodities mutual fund, DCXLX, in 2008 as leverage is to be used carefully and judiciously. Like some wines, leverage can turn nasty if aged too long. In vino veritas.

To: TobagoJack who wrote (27064)	2/26/2008 12:58:19 PM
From: carranza2	Respond to of 219928

dbc & dba in the 40s is baked in Yup. Sold all my DBA today at 42 on the nose. Very nice looting, esp. since I bought in high 20s in September and November. One will never go bankrupt taking 45% profits earned in less than 5 months. Since more heroin seems to be in store for the junkies, I think I might cycle in more gold. You will note that I have been stealthily poaching SRS today at bargain basement prices. Note this for about 8 months from now when I plan to monetize at minimum 60% profit.