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

To: Knighty Tin who wrote (90702)	4/21/2001 11:40:59 AM
From: Thomas M.	Read Replies (2) \| Respond to of 132070

The characterization offered in the book is that Buffett is extremely sentimental. He clings to what is familiar. Examples include his diet of Colas and burgers, and the fact that he still lives in his birthplace of Omaha. This is manifested in his investing style - he hates to part with a stock. Even though he is notoriously cheap, he doesn't sell unless something gets tremendously overvalued. One advantage this has given him is that companies are more willing to accept a buyout from him since they know he will bring stability. Personally, I prefer the Burke philosophy, that selling right is as important as buying right. My only major stock is SEPR, and I sold half at 125 last spring, and bought it back recently at 26. Needless to say, I will be framing those confirmation slips to show my grandkids. -g- Different strokes for different folks . . . Tom

To: Knighty Tin who wrote (90702)	4/21/2001 8:41:23 PM
From: Dennis O'Bell	Read Replies (1) \| Respond to of 132070

Re: Buffett entry/exit timing... I mentioned these remarks on another thread and someone just replied with the following citations from one of the books about Buffett... Message 15699809 "Before looking at Buffett's transaction with Salomon, let's examine the timing which, in hindsight, simply could not have been worse. The stock market crash of 1987 was only three weeks away-the day the market would drop 508 points-or almost 23 percent--its worst single-day loss in modem times." I admit never having read any of these books on WB, though I've enjoyed reading some of his annual reports. My understanding is that he is not simply an astute trader, but more generally a brilliant financial manager who puts in a lot of background work and thinking. That's the only possible explanation for his year in year out success.