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

To: Les H who wrote (77622)	3/11/2000 12:49:00 PM
From: Don Lloyd	Respond to of 132070

Les - [[Omaha, Neb.-based Berkshire Hathaway, whose diverse holdings include Dairy Queen ice cream stores and auto insurer GEICO Corp., said 1999 net earnings dropped to $1.557 billion, or $1,025 per share, from $2.830 billion, or $2,262 per share in 1998. Net earnings include realised investment gains...]] Misses the whisper number by $954.76 per share even counting investment gains, ala Intel. -g- Regards, Don

To: Les H who wrote (77622)	3/11/2000 4:14:00 PM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

Les, I believe that press release on BRK missed the major points of the shareholder letter and analysis of the business and its value. That, however, is typical. The press rarely get it right. (g) The insurance operations had a poor year, but that is very old news and not indicative of the their value. He called the performance an "aberation" and I totally agree considering that reinsurance is by definition a highly volatile business. (great years and horror show years) He mentioned a significant price increase. That virtually guarantees that we are in the early stages of the cycle turning. NOW is the time to load up, not after the earnings are already visible. It takes time for price increases to flow through to the bottom line of a PC business because some of it is long tail and you earn the new premiums over time, but NOW is the time to buy. 2001 should see a huge increase in earnings and it is also likely that if he is raising prices that means he feels he can grow the business at the new price. Wayne