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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (6709)	2/14/2000 11:33:00 PM
From: Mark Marcellus	Read Replies (1) \| Respond to of 10293

I don't think Buffett made a "mistake" by avoiding technology stocks, although I do think it is a handicap for him. He doesn't feel comfortable in his understanding of tech companies, so he doesn't invest in them. IMO, that's the smart thing to do. Frankly, I think concerns about Buffett's tech phobia were much more valid when BRK.A was trading at around $80,000 and we hadn't had the recent huge runup in the tech sectors. Right now BRK's stock price is depressed, WEB is sitting on a huge pile of cash, and the rest of the market has decided that valuation is no longer important. I like those odds.

To: Bill Wexler who wrote (6709)	2/15/2000 8:45:00 AM
From: JDN	Read Replies (1) \| Respond to of 10293

Dear Bill: Well, as you know, Warren Buffet has an EXTREMELY long time horizon, similar to the one you yourself just mentioned. So, he will likely be proven correct ultimately as modern society really cant ultimately function without the basic goods and services he usually invests in, HOWEVER, I really am surprised he ignored the Internet and its implications for the future. To me, that is now in and of itself a basic service. JDN