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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (75575)	2/10/2000 3:40:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Joan, It's been getting hammered relentlessly for quite a while. Personally I think it's selling at its most attractive price in relation to intrinsic value since I originally bought the majority of my position in 1988-1990. The sector is out of favor, but BRK is actually doing fine. Geico is doing great and the problems at General Re are overblown and not understood by the press etc... WEB is expensing a lot of changes going on at General Re instead of doing a "big bath". He switched the company from a stock option scam to a cash compensation plan. There is also evidence that he is using more conservative assumptions for recognizing profits. Float is up for the total insurance operation including super-cat. 100% owned non-insurance operating companies are doing great. The equity portfolio is down, but it is much less significant to the overall value than in the past and it isn't down that much. Finally, he has done a few deals over the last year and all looked very attractive to me. There is nothing amiss at BRK. There is a lot amiss with the public and Wall St. Wayne