Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (9960)	2/14/2000 11:41:00 PM
From: cfimx	Read Replies (1) \| Respond to of 78659

Paul I just wanted to remind everyone that Louis Simpson runs a portfolio for GEICO and ALL of these could be his, in fact I would be surprised if they weren't ALL his. Buffet has a "hands off" relationship with Simpson and often isn't even familiar or hasn't studied the companies Simpson likes. We may never find out really who bought what. I think the safe way to approach it is "Berkshire" did this...and not attribute it to Buffet. PS:They are BOTH outstanding in their own right and are worth studying!

To: Paul Senior who wrote (9960)	2/14/2000 11:49:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 78659

Paul, wouldn't classy clothes tend to be timeless and less subject to the whims of fashion?

To: Paul Senior who wrote (9960)	2/15/2000 12:38:00 AM
From: Freedom Fighter	Respond to of 78659

Paul, I think the Citigroup stake is the result of his original position in the Salomon convertible preferred. Salomon was taken out by Travelers who subsequently merged with Citibank. The original Salomon (which I assume is now a Citigroup preferred) stake is eligible for conversion to common on each October 31 starting in 1995 and ending in 2000. That's the reason for the current holding I suspect. I believe he sold some of that common stake in prior years via a convertible bond he issued. I don't know the details. In any event, I didn't take the current Citi stake to be a meaningful endorsement of that company. He converted to get the capital gains and added value. Even if he winds up holding it, I still don't think that's much of an endorsement. He has few common stock ideas and a ton of cash and bonds. Why sell a stock and trigger 35% capital gains tax when you have no alternative use for the money if it is even reasonably valued? If he sells that means he hates it. Wayne

To: Paul Senior who wrote (9960)	2/15/2000 10:59:00 AM
From: Bob Rudd	Read Replies (1) \| Respond to of 78659

A probably unnecessary note of caution on jumping into Buffett's published picks: I jumped into OHI, one of his first supposed REIT picks without looking under the hood - until it didn't act right. When checked underlying assets I bailed with modest loss - that was near 25, recently trading in 7's with most tenants bankrupt. I doubt WEB picked this gem and wonder if the filing didn't give cover for whatever Berkshire entity did have it to unload.