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

To: Michael & B.Anne who wrote (936)	8/14/1999 12:28:00 PM
From: Benkea	Read Replies (2) \| Respond to of 1652

Michael: "doesn't a 37% increase in revenues count for anything." The VAST majority of this was from ACQUISITIONS, not organic growth! "1) GenRe: reduced quarter contribution of around $100M is most assuredly transitory - either...in either case, that $100 million shortfall/quarter is not a permanent condition." GRN has produced three straight quarters of this! "3) the single most important entry on the report Purchase-accounting adjustments Q299 Q298 Q199 Q198 (186)...(25)...(335)..(51)" I agree, but your numbers are light. The total goodwill and PA adjustment is $213 mil which shows even more profitability. "a) BRK sells at less than 2 times book b) its' nearest equivalent competitor (AIG) sells for 4 times book c) if BRK is an insurance company - might not it be valued somewhat equally to other companies in its sector." Using relative valuations at the top of the longest bull market in US history can be very hazardous to your wealth. That said, I will be agressively adding on Monday at anything $2000 or below. (B's are trading at almost a 5% discount to A's as of Friday's close).