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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (14971)	7/28/1998 12:31:00 AM
From: PaulM	Read Replies (1) \| Respond to of 116759

This article describes it in passing, along with non-traditional investment in bonds and silver europe.cnnfn.com You can find more by locating Berkshire's annual letter to shareholders released about that same time as the above.

To: Broken_Clock who wrote (14971)	7/28/1998 9:38:00 AM
From: Daytek77	Read Replies (1) \| Respond to of 116759

Papaya King Here are WB comments on his oil play from the 1997 annual report. "... We had three non-traditional positions at yearend. The first was derivative contracts for 14.0 million barrels of oil, that being what was then left of a 45.7 million barrel position we established in 1994-95. Contracts for 31.7 million barrels were settled in 1995-97, and these supplied us with a pre-tax gain of about $61.9 million. Our remaining contracts expire during 1998 and 1999. In these, we had an unrealized gain of $11.6 million at yearend. Accounting rules require that commodity positions be carried at market value. Therefore, both our annual and quarterly financial statements reflect any unrealized gain or loss in these contracts. When we established our contracts, oil for future delivery seemed modestly underpriced. Today, though, we have no opinion as to its attractiveness... " Tony