Just Look Who's Buying! By David Zurbuchen #1 INVESTMENT TRADER OF ALL TIME 2nd Richest Man in the World His name is Warren Buffet. He commanded a net worth of $40B in 2005, and in 1997 he purchased 129 million ounces of silver over a period of many months (taking deliver of as much as 90M oz, likely leasing out the rest). http://www.berkshirehathaway.com/news/feb03981.html During this time the price rose from around $4/oz to well over $7/oz. In addition, there is much to support the rumor that Buffet was asked to back down from buying any more silver by the government because there was not enough to meet his demand. Indeed, this $900M deliver of silver (at today's price of $7.60/oz) is worth more than the entire stockpile at the COMEX warehouse, the largest silver warehouse in the world! Divided by his net worth, this is over 2% of his wealth. For more background regarding Buffet's affinity for the white gold, see: http://www.investmentrarities.com/bestofdm02-04-03.htm The Richest Man in the World Cascade Investment Fund, owned by Bill Gates (net worth of $45B as of 2005), owns over 5M shares of Pan American Silver Company (about 8% of the company). At $16/sh, that equates to over $80M of investment. Famous Currency Speculator George Soros (estimated fortune of US $7 billion) and his brother Paul, own millions of shares of Apex Silver Mines through their respective investment funds. Apex boasts the largest silver deposit in the world, likely the reason why the Soros Fund took ownership of about 2.75M shares in the company. At $16/sh, that equates to some $44M of investment * * * * * * * * Other than Buffet, there are no large concentrated holdings of silver known to anyone. There is no longer any government inventory to dump on the market, and the supply/demand issue continues year after year. Silver is possessed by individuals like you and me. Follow Buffet's advice, which is my advice as well. Convert your paper wealth into silver and gold, first buying a base of the physical bullion (I do not necessarily advise the purchase of gold bullion due to the looming threat of confiscation, see Golden Eagle for alternatives), and then afterwards pursuing the purchase of stock within silver mining companies to acquire greater leverage. I feel it is important to possess some of the actual metal, gaining a realization of its actual worth. This will also serve as a rock solid reminder of the impending rise of all things precious (metals, that is). Silver in Scripture Home Disclaimer: *This material is not copyrighted, and I encourage its reproduction as long as my name and website are mentioned. Make sure you do your own due diligence before investing in any stock or commodity. I am not a financial advisor. |
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