Double Dip Recession or not?

[Denny]

Buffett's 2Q report came out today, he bought Wells Fargo, Mastercard and Dollar General in the 2Q. He is also building a secret position in a company that has yet to be revealed.

I bought Wells Fargo and was convinced that Family Dollar was the better stock, although I don't own it or Dollar General and haven't researched either to any great degree. I'm interested to see what this secret position is, I'm wondering if it is a major bank that is selling at 40% of book value.

I wonder if it is agriculture related...

[347Mike]

Buffett's 2Q report came out today, he bought Wells Fargo, Mastercard and Dollar General in the 2Q. He is also building a secret position in a company that has yet to be revealed.

I bought Wells Fargo and was convinced that Family Dollar was the better stock, although I don't own it or Dollar General and haven't researched either to any great degree. I'm interested to see what this secret position is, I'm wondering if it is a major bank that is selling at 40% of book value.

Do you mind posting this list you speak of? I tried googling but apparently my googling sucks.

[Denny]

I'm wondering if it is a major bank that is selling at 40% of book value.

Are you talking about the BofA/ML shit?

[Broncojohnny]

I wonder if it is agriculture related...

He has owned ADM before. If it were it would be either them or Cargill. I don't find ADM all that compelling or cheaply priced. I know nothing about Cargill.

[Broncojohnny]

Are you talking about the BofA/ML shit?

Wouldn't it be a hoot?

[Denny]

Well, Jim Rogers has been heavy on anything Ag over the last year, going severely balls-deep over the last 6 months.

Soros just dumped some gold for Ag as well.

http://www.naturalnews.com/033319_food_prices_farmland.html

When the big boys start buying up all the procucing hard assets like Ag land and the like, you better jump on that wagon... just sayin'.

[Broncojohnny]

Do you mind posting this list you speak of? I tried googling but apparently my googling sucks.

Two pages on this site linked below. Now, keep in mind that just because he owns it, it does not mean it is automatically something you should run out and buy. You have to pay the right price for it, thus the name "value investing". Many of his holdings are not good deals at the prices they trade at today. Although Wells Fargo is. Also, just because he sells something it doesn't mean you should sell, it means he found a better place to put the money (Kraft foods). Finally, the smaller new positions of late that consist of a few millions shares are going to be bought by his new underling that he brought on board.

http://247wallst.com/2011/08/15/buffett-berkshire-hathaway-stock-holdings-a-to-l-brk-b-brk-a-axp-bk-ko-cdco-cop-cost-dg-xom-gci-ge-gsk-jnj-kft-lz/

[Broncojohnny]

Well, Jim Rogers has been heavy on anything Ag over the last year, going severely balls-deep over the last 6 months.

Soros just dumped some gold for Ag as well.

http://www.naturalnews.com/033319_food_prices_farmland.html

When the big boys start buying up all the procucing hard assets like Ag land and the like, you better jump on that wagon... just sayin'.

I told you a while back that Ag land is a hedge fund favorite of late. And why wouldn't it be with commodity prices where they are? It is a long term commodity play.

[Denny]

I told you a while back that Ag land is a hedge fund favorite of late. And why wouldn't it be with commodity prices where they are? It is a long term commodity play.

You did... now I'm telling you

[Broncojohnny]

You did... now I'm telling you

I like the idea of buying a solid company like John Deere or Cat rather than buying the land. Of course the shares need to be cheap for me to do that.

[347Mike]

Two pages on this site linked below. Now, keep in mind that just because he owns it, it does not mean it is automatically something you should run out and buy. You have to pay the right price for it, thus the name "value investing". Many of his holdings are not good deals at the prices they trade at today. Although Wells Fargo is. Also, just because he sells something it doesn't mean you should sell, it means he found a better place to put the money (Kraft foods). Finally, the smaller new positions of late that consist of a few millions shares are going to be bought by his new underling that he brought on board.

http://247wallst.com/2011/08/15/buff...sk-jnj-kft-lz/

Not looking to buy anymore right now, just for some literature to keep my mind busy. Besides, I have most of my money tied to the market right now.

[Denny]

Not looking to buy anymore right now, just for some literature to keep my mind busy. Besides, I have most of my money tied to the market right now.

I couldn't sleep.

[Denny]

Speaking of Cargill and hoarding...

http://www.allheadlinenews.com/articles/90057175

[347Mike]

I couldn't sleep.

Lol.. When I said that I was referring to getting some gains so I wouldn't be negative right off the bat. I am up 10% as of Thursday.

[Broncojohnny]

Buffett talks to Charlie Rose. I haven't watched it yet but he basically says he went wild last Monday, buying more than he has in a quite a while.

http://www.charlierose.com/