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

To: Joan Osland Graffius who wrote (75718)	2/11/2000 6:57:00 PM
From: Freedom Fighter	Read Replies (2) \| Respond to of 132070

Joan, Wall St . doesn't matter that much when it comes to BRK's intrinsic value or business success. In fact, I thought the stock was quite overpriced at 84000 per share 2 years ago when he used those shares to scoop up General Re at a price that made some sense. I'm sure that hype got it up there. However, my buddy Warren has been taking a lot of heat from Wall St. types in widely read magazines about his insistence on not investing in the pyramid type techies. There's also been a steady stream of negative rumors that all have been false. I see no reason for the sudden fall from grace for a guy who was idolized not more than two years ago. There's certainly no reason for a lot of rumor mongering. Call me paranoid, but the change in press coverage and the rumors started about 2 minutes after he became more vocal in his criticisms of corporate accounting, stock options, one time charges, merger accounting, Wall St. etc... It could be a coincidence. It could be Wall St.'s "what have you done for me lately" attitude. Then again, criticism of others' deeds of low integrity tends to bring out the worst in those who are getting criticized. What it comes down to is I am no fan of most of the firms on Wall St. I view them as an adversary of the middle class for a variety of reasons. I agree that investors should use this opportunity to buy the stock. I thought my position was full, but I will probably buy some more Monday morning. Wayne