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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (7620)	4/12/2002 11:34:14 AM
From: David	Respond to of 8218

Received Berkshire Hathaway Annual Report in the mail yesterday and along with it came a complimentary reprint of the December 24, 2001 Outstanding Investor Digest that contains a transcript of last years question and answer session with Shareholders. Charlie Munger discussed corporate practices in deliberately increasing financial leverage and repurchasing of stock, paying huge multiples of book value to, as he phrases it "do wonders for returns on equity" and "paint the company as unusually efficient in their capital use." Munger specifically referred to GE as an example. IBM immediately came to mind.