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Technology Stocks : Intel Corporation (INTC)

INTC 35.53

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Nov 14 9:30 AM EST

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To: Elmer who wrote (97238)	1/24/2000 2:54:00 AM
From: Michael Bakunin	Read Replies (2) of 186894

See my reply to PB, #reply-12655833. In Buffet's letter last year, he makes the following intuitive argument: "[options'] accounting treatment is outrageous. Think for a moment of that $190 million we are going to spend for advertising at GEICO this year. Suppose that instead of paying cash for our ads, we paid the media in ten-year, at-the-market Berkshire options. Would anyone then care to argue that Berkshire had not borne a cost for advertising, or should not be charged this cost on its books?" Click on the link to the '98 letter for more. -mb

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