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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: marc ultra who wrote (10366)	12/10/1999 8:50:00 AM
From: Allan Harris	Read Replies (2) \| Respond to of 15132

On Biotech Marc, take a look at GZMO, doing similar work with deep pockets parent/partner(GENZ); On Buffett: "I find it fascinating that smart investors can be so blind to the simple fact that Berkshire Hathaway has not been very remarkable in the past decade, once you get past the star value of the Buffett leadership. To be sure, his holding company's record since the late 1950s is excellent by any standard. But investors should demand that their chief executives prove themselves at least every few years, and certainly in every era. After all, you're an investor to make money, not to pay homage. "Don't care for big technology companies for some reason? Well then, how about Wal-Mart Stores (WMT)? From the first day of 1990 to date, a $10,000 investment in Wal-Mart clobbers an investment in Berkshire Hathaway with a return of 961% to 590%. Even an investment in another insurance company, American International Group (AIG), beats Berkshire Hathaway over the past 10, five and three years. And if you prefer to look at its peers among conglomerates over the past 10, five and three years, how about General Electric (GE)? Chief Executive Officer Jack Welch beats Buffett at returning value to shareholders by a return of 546% to 180% since 1994. "I don't mean any disrespect to Buffett, but many longtime shareholders actually are the most disillusioned with his company today. A brief examination shows it's not much more than a middlebrow insurance company studded with a bizarre m‚lange of investments in assets including candy stores, hamburger stands, jewelry shops, a shoemaker, a third-rate encyclopedia maker, some utilities and a pile of silver. Berkshire definitely has had home runs over the past few years with its investments in American Express (AXP) and Citigroup (C). But if you'd really rather have your chief executive use precious cash flow to buy International Dairy Queen than Cisco or Nokia -- both of which have been exceptionally cheap at various times in the past five years -- I really think you need to get out more." Complete article (highly recommended for non-Buffet stuff) at: moneycentral.msn.com A