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Non-Tech : Berkshire Hathaway & Warren Buffet -- Ignore unavailable to you. Want to Upgrade?

To: 249443 who wrote (83)	8/11/2001 7:32:10 PM
From: tsigprofit	Respond to of 240

Interesting site, with a lot of good links. Just found it while surfing SI, and I bookmarked it. Thanks for taking the time to put this all together...Matt a.k.a. tsigprofit

To: 249443 who wrote (83)	8/12/2001 9:49:16 AM
From: 249443	Respond to of 240

Berkshire's Second-Quarter Net Rose 21% on Sale of Investments August 10, 2001 Berkshire's Second-Quarter Net Rose 21% on Sale of Investments Dow Jones Newswires OMAHA, Neb. -- Berkshire Hathaway Inc., the holding company of Nebraska-based financier Warren E. Buffett, said second-quarter profit climbed 21% because of better results in its secondary businesses. The investment company reported that net income for the second quarter rose $773 million, or $506 a class A share, from $640 million, or $421 a share, a year earlier. The results included gains from selling investments. Excluding these gains, Berkshire Hathaway earned $353 million, or $231 a share, up from $245 million, or $161 a share, in the year-earlier period. One analyst who follows Berkshire Hathaway for Thomson Financial/First Call had expected second-quarter earnings of $290 a share. Berkshire, whose main business is insurance, said underwriting results at its General Re reinsurance unit continue to be unsatisfactory, deteriorating from the preceding quarter, in part because of the increased amount of catastrophe and other large individual property losses. The unit has been plagued by heavy underwriting losses since being purchased by Berkshire in 1998. The company said the estimate of the losses incurred in the 1998 to 2000 period was significantly increased and charged against the current quarter's earnings. The company said that underwriting results at its Geico auto-insurance unit posted a small profit and improved from the preceding quarter. In 4 p.m. New York Stock Exchange composite trading on Friday, Berkshire's Class A shares closed at $68,800, down 1.50%, before the results were announced.