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Buffett Begins Hibernation Process

In the fourth quarter of 2010 Buffett continued to reduce his (Berkshire’s) equity positions, cashing out approximately $1.2 billion (Berkshire 13F filings). Buffett also failed to produce any new buys and only added to a single long-term holding (Wells Fargo).  When contrasted against yesterday’s penchant for deal making these activities, or lack thereof, strongly suggest that Buffett is becoming bearish on equities.

Legendary newsletter writer Richard Russell identifies two technical reasons to be bullish on gold (via King World News).
Firs

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