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Strategies & Market Trends : Value Investing

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To: Mark Marcellus who wrote (28222)	9/25/2007 10:05:27 AM
From: Jurgis Bekepuris	Read Replies (1) of 78748

Thanks for the pointer. Just a note for anyone else reading the quote and not the entire transcript: the second paragraph is quoted somewhat out of context and is a part of an answer to a question "Will Berkshire ever pay out its excess capital?" So read the whole transcript. ;) So what do I think after reading the whole transcript? I think that Munger painted himself into a hole. He obviously does not consider Wesco an independent company and does not run it (in investing its capital) as if it was one. On the other hand, he and Buffett are not willing to merge it fully into BRK because of the quoted comment above. More to follow, gotta run. :)

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