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Non-Tech : Berkshire Hathaway Class B -- Ignore unavailable to you. Want to Upgrade?

To: Benkea who wrote (906)	8/7/1999 9:47:00 AM
From: Dale Baker	Read Replies (1) \| Respond to of 1652

You miss the point by automatically assuming that Buffett's current combinations of business will succeed wildly in years to come. Coke and razor blades have not done well in a while. If Gen Re doesn't produce the earnings WEB expects, then his entire fund will continue to drift. There is no way to predict that accurately without a crystal ball. But since you aren't averse to momentum trading on top of your BRK holdings, try to take it easy on people who play AOL too. It's safer to assume that an occasional IPO will offer fantastic short-term returns than it is to assume that WEB's set-in-stone investing formula can hold up in future decades in a world with a rapidly changing economy. Right now the majority of investors don't seem to be betting that it will.