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To: Rarebird who wrote (52755)	5/15/2000 11:36:00 AM
From: LLCF	Respond to of 116764

From the FWIW bin: Warren Buffett's annual report to Berkshire shareholders was reported as bearish in the press, but the press as always toned things down a bit. Here's a couple things: "We do not think the general ownership of equities is going to be very exciting over the next 10 to 15 years" Munger from FT: "You are mixing a good concept, such as the Internet, with irrational excess. But, if you mix raisins with turds, they are still turds." "When the reversal comes it's likely to be severe." DAK