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Non-Tech : Berkshire Hathaway & Warren Buffet

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To: 249443 who wrote (160)	10/24/2001 7:14:41 AM
From: 249443	Read Replies (1) of 240

Berkshire Well Placed After Attacks, Can Raise Rates, WSJ Says search.bloomberg.com By Alex Armitage Omaha, Nebraska, Oct. 23 (Bloomberg) -- Berkshire Hathaway Inc., the conglomerate controlled by Warren Buffett, is better positioned than many other companies after the Sept. 11 attacks because it can easily raise insurance premium rates, the Wall Street Journal reported on its ``Heard on the Street'' column. Though Berkshire, trading near its 52-week high, said it had one of the highest loss estimates from the attacks of any insurance company -- $2.2 billion -- analysts say the company can offset that with increased market share at increased premium rates, the paper reported. Steep increases are being promoted by insurers and are what is driving analysts' optimism. Insurance-related revenue represented more than 60 percent of Berkshire's total revenue in recent quarters, the paper said. Buffett, who doesn't buy technology stocks because he doesn't invest in what he doesn't understand, told the Journal the payout doesn't make him happy and he would prefer to have the $2.2 billion to choose how to spend himself. He also doesn't rule out making acquisitions in any sector.

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