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To: KevRupert who wrote (234)	5/20/2001 6:05:14 PM
From: KevRupert	Read Replies (1) of 252

Vicks on BKR.A Earnings: SageCalc: Although Mr. Buffett's wholly owned operating companies posted a profit, his investment holdings led Berkshire Hathaway Inc. [BRK.A] to post a decline in earnings... I was very happy with those results because I was focusing more on the operating earnings on Berkshire Hathaway's subsidiaries. I was particularly pleased to see the operating ratios fall for its two largest insurance holdings. That tells me that Mr. Buffett has lowered his cost of float and will be able to lever up the returns on his new investments. I'm not at all worried about the performance of Mr. Buffett's investments near term. From what we do know, he has been a pretty astute buyer and seller of securities the past 18 months or so. As I have said in previous interviews, I think he's perfectly positioning Berkshire Hathaway to be flush with cash to deploy in this market when stocks finally bottom and stabilize. I suspect Berkshire Hathaway will be a top performing stock over the next two to three years.

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