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

To: BGR who wrote (79148)	4/6/2000 10:26:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 132070

BGR, >Perhaps you only have incomplete information about the business value and fundamentals, even though you consider that to be am impossibility.<< That's not only possible, it's likely. It simply doesn't matter in some cases. At times I have a more complete understanding of the situation than the market's consensus view. I am 100% certain that Warren Buffett knows more about BRK than I do. I am also highly certain that I know more about BRK's value than the market does "at some points in time". For example, there was a flurry of articles trashing Warren, Geico, General Re and other aspects of BRK just a few weeks ago. The authors of those articles were somewhere between clueless and brain dead about what was going on. There were also rumors about Warren's health that were totally denied. Yet that stuff helped drive the price down to levels that were far below a conservative estimate of the business value. I bought. In his annual report Warren hinted strongly that the stock was very cheap. That plus a few competent articles explaining the situation rallied it back. I think these things happen from time to time and can be exploited. You simply have to understand a business and its value fairly well. By value I mean "intrinsic". Not totally subjective values. I am talking about the present value of of a stream of income. Two people may not agree completely on the latter either. But sometimes the price is so compelling it is clear. That's when you move. Wayne