StockBullz.com: Your Daily Stocks Blog

Warren Buffett used to be the King of Investing. Used to?

Well he hasn't been able to achieve his market beating returns for a while now so that's why I am using that terminology.

Anyways, he has an annual shareholder's meeting that is very popular. It was held over the past weekend. Here are some of his comments:

On the real estate bubble

Buffett: "What we see in our residential brokerage business [HomeServices of America, the nation's second-largest realtor] is a slowdown everyplace, most dramatically in the formerly hottest markets. [Buffett singled out Dade and Broward counties in Florida as an area that has experienced a rise in unsold inventory and a stagnation in price.] The day traders of the Internet moved into trading condos, and that kind a speculation can produce a market that can move in a big way. You can get real discontinuities. We've had a real bubble to some degree. I would be surprised if there aren't some significant downward adjustments, especially in the higher end of the housing market."

[Markus has been succesfully investing for over 5 years. He will be writing here occasionally about what he's investing in. I think you will enjoy his contributions here.] 

Lynden Ventures (LVL-TSXV)
Shares Issued and Outstanding – 14.5M
Fully Diluted – 19.9M
Cash on Hand – $3.0M CDN

Lynden has lined up a proven finance, technical, management and promotional team. They have assembled a good sized land package in Utah and Colorado prospective for conventional and unconventional oil and gas. This is a very proven area with millions of barrels of oil and gas produced over the years.

People

The Company has been financed through non-brokered private placement led by some powerful brokers at Haywood Securities. There have been very strong deals coming out of that office lately including, PetroBank ($14.00) Paladin Resources ($3.50) and Storm Cat Energy ($6.00 pre-split) raising well over $75M combined for the respective deals. They are also well connected to some of the more powerful newsletter writers in the resource market.