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

To: Benkea who wrote (1303)	1/25/2000 2:25:00 PM
From: Jacques Newey	Read Replies (1) \| Respond to of 1652

Benkea - "This is why BRK does and should trade at a multiple of book." Sure! I suppose there are not too many (attractive)companies around that trade at less than book value these days. A few years back I received Value Line. They used to have a section called " Low Priced Stocks" which listed stocks with low P/B's. The companies listed were steel co's, utilities, restaurants and the like, Cigar Butts I suppose. Based on what you say, BRK seems to trade at a very low P/B. And as you say, book value is VERY conservative, especially when compared to other stocks in today's market. What is BRK's P/B now? 2 - 3? How does BRK's P/B compare now to what it has been historically? Regarding Margin of Safety (BRK's IV vs. BRK's Price): When you estimate BRK's intrinsic value at $60,000/share, do you apply "safety factors" in your arrival at that number? In other words, do you purposefully and consistently err on the low side when estimating per share value. I'd be interested in hearing your thoughts on this, realizing this may be a somewhat personal question. Thanks for the taking the time to reply. I'll check out the site you posted. Regards,

To: Benkea who wrote (1303)	2/11/2000 10:14:00 AM
From: Jocelyn Ally	Read Replies (2) \| Respond to of 1652

Yet another rumor, more serious this time, about GenRe and bonds: economist.com It's as if everyone/everything conspire to bring down BH! We've got: worker compensation (unicover) still mentionned after so long barron's cover sosnoff and other post-mortem like articles persistent board messages about he's lost it, he's not doing tech, false buyback pr rumor false about Warren health rumor GenRe screwed in bonds This is managed to open a buying opportunity! I am accumulating and raising money to shift more into Berkshire. I observe many former conservative investors that are being lead to sell their good stocks and moving to the hi-flyers. I'm afraid they we'll be left holding value-less paper. I will take the other side of those trades (altough on a pretty smale scale ;-) Jocelyn ps: can you forward The Economist link to the Fools where I just lurk