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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: westpacific who wrote (3414)	5/4/2001 1:11:39 AM
From: westpacific	Respond to of 74559

Berkshire Hathaway held its annual shareholders' meeting over the weekend. Warren Buffet continued to caution investors about the stock market and especially technology stocks. Buffet also took aim at Wall Street in his usual candor, "lots of money was transferred from the gullible to the promoters." Buffet continued by saying Wall Street benefited "Not by great performance, but by great promotion." Buffet also warned investors not to expect a repeat of prior performance even for Berkshire saying, "The probability of us achieving 15 percent growth in earnings over an extended period of years is so close to zero it's not worth calculating." And on ECB stance on interest rates this: Berry Riely made a very good point in last weeks FT article, Global Fault Lines: "the Americans must realize that blaming Europe will be counter-productive. The aggressive mindset of the world's economic powerhouse may need to be replaced with the humility appropriate for the world's biggest debtor nation." -The US should not be proud of this fact and this is the number one reason we need to worry going forward IMO. If the Long Boom fails we fail.