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

To: jhg_in_kc who wrote (2204)	2/24/2000 9:53:00 PM
From: Michael Burry	Read Replies (3) \| Respond to of 4691

jhg, I for one am willing to listent to tech stock ideas as potential Buffett plays. I think I caught heck from this thread for suggesting Apple had Buffett-like qualities and that I had just taken a position. Oracle is another of mine that caused me grief among my fellow value investors - although each has since tripled at the least. All I want for this thread is a solid idea followed by solid reasoning - along Buffett's way of thinking. There has to be, in my mind, some evidence that a tech stock can withstand and evolve before it can be considered a Buffett stock. Microsoft, IMO, is not a Buffett stock because it has yet to show me it can evolve. It is very possible to me that a new operating system can evolve to destroy a lot of what Microsoft has worked for. Sure, they have some nice online properties, but those are losing money hand over fist. I think it can be argued that Intel, Apple, and Oracle and even Compaq have shown a resilience over time that Microsoft, Dell, and Cisco have not. I wonder if you can see where I'm coming from. In any case, when looking at Buffett-like tech stocks, I'd want to stay away from the absolute biggest names unless they are under some severe stress. Good investing, Mike

To: jhg_in_kc who wrote (2204)	2/25/2000 12:55:00 AM
From: James Clarke	Read Replies (1) \| Respond to of 4691

jhg, I was about to do the IGNORE button on you then you come through with something like that. <<If this trend continues, more and more money leaves Buffett-like stocks and goes into already fully valued tech stocks until you have, tulipmania in techs and a bear market crash in non-techs. That is the logical endgame.>> You're not the only one concerned - but look at what you've been saying for the last year, drawing the conclusion that this is an indefinite trend. Now you sound like you are worried to. I like what Alan Greenspan said about a month ago, quoting Herb Stein: "If something cannot continue it will end." Thats what keeps me staying the course. There is a very simple answer for those with profits in the high-flyers. Start a plan to methodically sell them. I wish I had your problems.