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

To: Benkea who wrote (953)	8/17/1999 5:31:00 PM
From: Michael & B.Anne	Read Replies (3) \| Respond to of 1652

I am not so bemused by the fact WEB does not tell us where he is putting his (our) money - in fact I like his reserve in this manner. On the other hand - the hi order activity at BRK is a transition (which I like a lot) from being a closed end fund to being an insurance driven holding company. (Very much like GE with a strong financial hub and income producing spokes - IMO GE has better spokes but we have a better hub) So when the quarterly reports come out - I cannot tell (can only guess) at activities supporting this refocus. Specifically, were GenRe divisional reported loses attributable to a) some large impact events - b) higher than expected frequency of payable events c) moving monies to create higher reserve positions (my hope) I am not asking for much - just a hint, a hi order statement. Perhaps in the form: during the past quarter we were moderately pleased with increases in revenues and continuing efforts to firm up and solidify our financial hub operating companies. Finally, without some understanding of BRK and Financial statements - the quarterly report could seem as though we were doing poorly - when in fact we may be doing pretty well. Buffett has always stated he wants stock price to be in line with basic (IV) of the company. Also he dislikes periods of either over value or under value. Does lack of any statement imply he thinks we are at fair value - I think not. And yet lack of some statement leads to "goofy" press reporting "BRK earnings down, again." Oh well, for everything turn turn - and I have never liked BRK more or had a better feeling for what they are doing. I find I like Buffett as much (if not more) as a manager than as a stock picker - what a rare and pleasant surprise regards