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To: whiskeyjack who wrote (30001)	3/14/1999 12:20:00 PM
From: Little Joe	Read Replies (2) \| Respond to 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

To: whiskeyjack who wrote (30001)	3/15/1999 7:36:00 AM
From: long-gone	Read Replies (1) \| Respond to of 116762

Well, for now this should put an even larger pressure on the family farmer and when grain prices do next move,the move will be leveraged UP,as there will be reduced competition in the seed grain market (Dupont took over the #1 seed grain seller - DeKalb around a year ago). Now they also have the #2 seller PHB of seed grain and competition is dead.: <<Monday March 15, 2:28 am Eastern Time DuPont agrees to buy Pioneer for $7.7bln-WSJ NEW YORK, March 15 (Reuters) - DuPont Co. (NYSE:DD - news) has reached an agreement to buy Pioneer Hi-Bred International Inc. for cash and stock in a deal valued at about $7.7 billion, the Wall Street Journal said in its Monday issue. The newspaper cited sources close to the talks.(cont)>>. Is this a failure of the "invisible hand" or laissez-faire run amuck?