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Gold/Mining/Energy : Silver prices -- Ignore unavailable to you. Want to Upgrade?

To: paul ross who wrote (889)	3/14/1998 10:21:00 AM
From: Larry Haraksin	Read Replies (2) \| Respond to of 8010

Here is what Warren Buffet said in his report in regards to his silver investment: "Last year, we purchased 111.2 million ounces of silver. Marked to market, that position produced a pre-tax gain of $97.4 million for us in 1997. In a way, this is a return to the past for me: Thirty years ago, I bought silver because I anticipated its demonitization by the U.S. Government. Ever since, I have followed the metal's fundamentals but not owned it. In recent years, bullion inventories have fallen materially, and last summer Charlie and I concluded that a higher price would be needed to establish equilibrium between supply and demand. Inflation expectations, it should be noted, play no part in our calculation of silver's value." Hmmm..... Warren Buffet style of value play. Inflation would only be a welcome extra.