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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club

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To: Justa Werkenstiff who wrote (1093)	9/18/1998 9:25:00 AM
From: Investor2	Read Replies (1) of 15132

Evidently, someone else called the correction too. "September 17, 1998 Buffett Declines to Offer an Opinion On the Market, but Is Holding Cash By JAMES P. MILLER Staff Reporter of THE WALL STREET JOURNAL OMAHA, Neb. -- Warren Buffett has some money to spend. Fielding questions at a special stockholder meeting here Wednesday, the chairman of Berkshire Hathaway Inc. declined, as usual, to offer an opinion on the stock market's current valuation. But he did provide one possible clue to his perspective: Berkshire, the famed stock picker disclosed, is currently sitting on $9 billion in cash. Because undervalued stocks that the "value investor" seeks become ever harder to find during bull markets, Mr. Buffett reiterated Wednesday that "it's always beneficial for us when the market goes down." The market's recent slide "hasn't been dramatic," he noted, before telling Berkshire holders that "if the market declines significantly, you can be pretty sure that we won't have $9 billion in cash when we meet next year" at Berkshire's regular annual meeting in May." Best wishes, I2

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