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Non-Tech : Cendant Corporation (NYSE:CD)

CD 7.190

-5.0%

Dec 12 9:30 AM EST

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To: VALUESPEC who wrote (1179)	7/22/1998 12:30:00 AM
From: Sr K	Read Replies (1) of 3627

<<In a book I read by about Warren Buffet (Buffetology), it was said that the way to make really big money in investments is to invest other people's money for them and take a percentage. >> Don't know if the book told the rest of the method. You need a legal structure where you hold your interest or fee percentage as a percentage of the fund. For instance, around 1969, Buffett's partners generally got their money and paid taxes, but WEB held his Berkshire Hathaway shares. Done right, you can have the fund buy back shares when they sell for a discount, increasing your ownership without paying taxes.

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