Time to sort through the Fast Money in-box and answer more of your questions.
Drew from Arizona
Drew writes, “Folks, what do we think about Berkshire Hathaway? Any thoughts on what his annual report will state?"
Warren Buffett’s investor letter is a must read, replies Jeff Macke. He will likely talk about mortgage problems and how getting into this business at the right price is attractive to him. He should also talk about his railroad positions and whatever else he owns.
Jameson from Texas
Jameson writes, “Pete, you said you own both McDonald’s and Burger King . You’re usually a trader but these are longer–term investments. Also, are you using common stock or options?”
I own these names and am selling upside calls against them, replies Pete Najarian. Also, I like them as long term investments.
Greg from Florida
Greg writes, “Guy, considering Bernanke's statement that there will be bank defaults, which small regional banks should I stay away from?
That’s an impossible question, replies Guy Adami. If you want to be in banks I like U.S.Bancorp..
Rupesh from California
Rupesh writes, “What is your opinion on Valero Energy ? With oil at an all time high, and gasoline prices inching to an all-time high, and with summer driving season ahead of us, why is Valero not participating in the upward price action? Is there something I'm missing here?”
I think investors are looking at inventory builds and getting confused, replies Tim Seymour. For me it’s a seasonal trade, and this time of year the refiners should go higher.
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Trader disclosure: On Feb.28, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke Owns (YHOO), (INTC); Seymour Owns (AAPL), (BX), (DELL), (INTC), (MER), (MSFT), (TMA), (TSL), (SHLD), (SBUX); Seygem Asset Management Is Short (PBR); Seymour Is Short (S); Pete Najarian Owns (AAPL), (BIIB), (C), (MS), (MSFT), (NVS), (XLF), (CSCO), (BKC), (MCD); Pete Najarian Owns (XTO) Calls, (IVN) Calls; Pete Najarian Owns (YHOO) And (YHOO) Calls; Jon Najarian Owns (FRE), (FNM), (GS)