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

To: Richard Forsythe who wrote (942)	8/16/1999 10:39:00 AM
From: Michael & B.Anne	Respond to of 1652

Richard, I think you have it just right - especially 1) speculation regarding improving reserve positions at GRN. 2) shallow press coverage - no mention of increase in earnings (outside of local Omaha newspaper) and no comment on lack of real meaning in "goodwill" charges against earnings In any case, woke up this a.m. waiting for the battle of BRK and so far no one cares - just another morning of light volume and the usual (over last month) large single sell order (the determined seller looks to be still here). We shall see as the day progresses. So in this sleepy town of BRK, there are so few (it appears) that see what I see - a company that could easily have an expectation (right now) of earnings around $700 per A share and more if there is any positive activity with float monies. sigh .. again liked your posting

To: Richard Forsythe who wrote (942)	8/16/1999 10:40:00 AM
From: Richard Forsythe	Read Replies (1) \| Respond to of 1652

Postscript: Looking at the first quarter report, purchases for the second quarter totalled $12bn, sales totalled 2.2bn. The 12bn seems likely to be primarily bonds. Given that bond-holders lose if interest rates go up, it suggests that Buffet is reckoning that interest rates are unlikely to go up beyond what the market had factored in (a .25 - .5 increase at the end of August). Anyone else care to place $9-12bn on this next spin of the wheel? Richard