Does anybody know whether Warren Buffett finally sold his Silver position or whether he is holding on to it ?
He's in it for the long term, he's still made an overall profit from when he first put on the position and 600mln loss on a 18bln trade is not a catastrophe.
WEB bought in 97' around $4.50 and took delivery. He has some storage costs. To him an investment, but probably more a hedge against financial assets/securities. WEB doesn't use a "stop loss" because he is a genius of high calibre that knows the value of what he's buying. Stop loss is for all shorts, and longs when you're not sure of the value you're buying.
My guess is that Mr. Buffett is sitting tight for the time being. As was pointed out, the drawdown is not too large at this point. He is playing silver for the impending meltdown that will take place before the end of the year. The dollar is going to take a serious beating, so metals are probably a good place to hedge. It's all just a guess, but he seems like a pretty fart smeller (spelling?)