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To: Ahda who wrote (87416)	6/26/2002 10:55:25 AM
From: Zardoz	Read Replies (1) \| Respond to of 117026

Warrne Buffet would tell you:"only buy stocks that have dividends" Can you justify buying BERKSHIRE HATHAWAY INC when it has no dividends? His BRK.A has a PE value of 95.84, grossly over valued? Or is the S&P500 PE fair?

To: Ahda who wrote (87416)	6/26/2002 11:47:35 AM
From: IngotWeTrust	Read Replies (1) \| Respond to of 117026

Darlene sez: "To me it is ever so tragic we became too creative in accounting and greedy for figures." Darlene, it is a whole lot simpler for me and the real tragedy occurs "sooner" in a business' development model. May I elaborate... WCOM ( as in MCI-Worldcom) started out as a MULTI-LEVEL telephone long-distance marketing scheme, remember? Ditto QWEST. Now, when was the last time you saw a "friends and family" multi-level S-C-H-E-M-E achieve sustainable multi-billion market caps???????? (And AOL isn't a whoooooole lot different if you hold it up to the light of day as well from one perspective.) I remember about 9 years ago, a retired school teacher living outside of Vancouve WA sitting in my living room after a weekly commodity trader's club meeting telling me that he had "gotten in on the ground floor of Qwest, and how they were going to buy USWest telephone before it was over...yeppers, that's what he said. The guy couldn't rub two quarters together between pension deposits, and had a yard full of "car restoration projects" and rotting firewood when never quite got stacked and cut for resale... Well, Glen got the "buyout of USWest part right." But he still is looking for his brass ring, and is now a decade older! For all the "levels" he had in his downline, it looks to me like belief in the business model was his downFALL. Worldcom's business model incarnation was flawed from the get-go. Ditto Qwest. Here's a newsflash: There are very few "sustainable" business models built in multi-level, Avon, Amway, Mary Kaye come to mind. The other genuine multi-level business model that is sustainable is the INSURANCE industry. Financial greed-grabbing company building aspirants knew this going into both MCI and Qwest. But did they listen to common sense or study multi-level based business model H-I-S-T-O-R-Y? Nope. It was gonna be different THIS time...yeah, right. The insurance industry has multi-billion market cap if you add THEM all together. The Avons, et al, couldn't hit a billion market cap between them with a weekly allowance loan from Daddy Warbucks I don't believe. I just don't understand how people give greed such a head and park their brains when it comes to parting with their hard-earned money and call it investments. Dot com bomb is another busted business model with very few survivors. And yet we continue to plant, grow, nurture, tout and hire and incestuously 401-K suckered worker ant in these types of greater-greed/multi-level (or dot.com or new idea du jour) business models. And each new eager generation of "investor wannabe" think it is "different this time" and throw money at these business. And while I'm "ranting..."<grin>...when was the last time you saw someone selling sheets, blankets, towels and baby booties AT K-MART NO LESS deserve a $200 million personal net worth???-- that is evaporating as we speak. To believe in THAT business model's sustainability suggests Ole Martha emerged from the horse-race backfield with backroom deals and slipping between the designer sheets with more than one jockey...SHAME on her "investors!!!" and the backroom brokerage who brought her "public!!!!!" May Ann Landers and her common sense rest in Peace. (how'szat for a non-sequiter) Maybe she should have written an investment column to the lovelorn and unrequited bunch. Perhaps we'd be better off.... g_t