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Non-Tech : Berkshire Hathaway Class B
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To: Benkea who wrote (1250)12/7/1999 6:47:00 PM
From: opalapril  Read Replies (2) of 1652
 
When WEB says he buys companies he understands, he means knowing everything there is to know about a company in far more detail, and with much greater certainty, than the new-found shallow technical familiarity, speculative dreams, and double-click silly stuff that passes for due diligence among most net jockeys, day traders, and SI habitues.

Even the best tech co. CEOs can't be sure when or how the shake-out will come or who among them will be left standing when the dust settles. All they and WEB know for certain is that it won't be long, now, before it starts; the carnage will inflict permanent damage; and when it's all over the vast majority of today's high flying companies will not have survived.

At a certain point during the Tulip Craze there were, no doubt, plenty of flower-owners who scoffed at those without.
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