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To: techreports who wrote (44797)	7/22/2001 10:33:10 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 54805

Although i'll agree that airline companies don't offer the qualities Buffett usually looks for in stocks Isn't Buffett's investment in U. S. Air (or is it some other airline) long ago one of his horrible investments? I could be all wet but that's what I remember. --Mike Buckley

To: techreports who wrote (44797)	7/22/2001 11:16:16 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 54805

hasn't returned a damn thing? Buy LUV stock over 80 months ago and you'd be up 486% Mark is talking about the airline industry as a whole, which through its entire career has famously tallied a cumulative loss. i imagine the same could be said for the cellular service providers as a whole. it is funny that they still haven't begun to recoup their 2G investments and already we're talking 3G. that is one of the reasons i think 3G will be delayed.

To: techreports who wrote (44797)	7/23/2001 12:32:06 AM
From: hueyone	Respond to of 54805

My link to Buffet's November, '99 Fortune article no longer works, but as I recall, his larger point was that while it is certainly possible for new technologies to have have dramatic impacts on the way we work and play, (the advent of airplanes and the airline industry for example), there are many instances where the new technologies do not produce any suitable long term investment prospects. LUV's performance is a relatively, recent short term phenomena when viewed against the entire history of the airline industry. Best, Huey