Adam Pawling

Buffett Likes to Be Early; Don't Rush to Follow

Great article to put Buffett's buy orders in perspective. Buffett has a time frame for investing that is so long that even a market cycle is short for him. He'll watch a company for 10 or 20 years and then pile in when he sees the P/E look attractive for his expectations in the next 10 or 20 (i.e. his big ventures into Coke and American Express) . Its encouraging to hear he's buying but sticking a toe in the water at this stage is probably prudent for most of us, even if Warren is diving in the deep end of the pool.

Berkshire Hathaway's Derivative Play

Great write up- Its nice to see something on Buffett's activity in options, as he usually pooh-poohs them in his public statements. Although to interpret his activivty as speculation seems so out of character as to be unlikely.

Dave, have you seen any details on what the strike prices/indexes are for these puts? I would guess this is either a risk management move, generating cash for a big purchase, or a sign Buffett is changing tactics because he can't find anything compelling big enough to buy -something he complains about often.