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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Techplayer who wrote (31534)	3/8/2003 11:54:24 AM
From: Techplayer	Read Replies (1) \| Respond to of 57110

Berkshire Hathaway Posts Record Profit Sat March 8, 2003 09:44 AM ET OMAHA, Neb. (Reuters) - Berkshire Hathaway Inc., the holding company run by billionaire investor Warren Buffett, reported its highest ever annual profit on Saturday, helped by rising insurance rates and better returns from its expanding stable of old-economy companies. Berkshire BRKa.N , based in Buffett's home town of Omaha, Nebraska, reported a profit of $4.286 billion, or $2,795 a share, for 2002. That compared with $795 million, or $521 a share, for 2001, when Berkshire put aside more than $2 billion to pay World Trade Center insurance claims. Revenue rose 10 percent to a record $42.3 billion. "In all respects, 2002 was a banner year," Buffett said in his annual report to shareholders. The sharp rise in profit was helped by higher insurance and reinsurance rates charged by Berkshire units, partly as a reaction to the destruction of the World Trade Center on Sept. 11, 2001. Profit from insurance was higher than it might have been in a "normal" year, Buffett said, as there was no large insured catastrophe during the year. Berkshire also saw better returns from its growing patchwork of old-economy operations, ranging from candy and jewelry to bricks and carpet. Berkshire's stock, which has not been split in Buffett's 38 years in charge of the firm, closed at $64,800 a share on Friday on the New York Stock Exchange.

To: Techplayer who wrote (31534)	3/8/2003 12:38:17 PM
From: stevenallen	Read Replies (1) \| Respond to of 57110

TP, I covered a few shorts just after open, was hoping to cover more later in the day on further weakness, but it wasn't too be, so I'm still plenty short (about 2:1). I did add to my GFI position, as well as to HMY, still figuring that global issues will produce at least one big spike in the not too distant future. As for MSFT, I would bet that it has another leg down at some point, and this wouldn't be a bad time for it to happen, but who knows. I did think the pattern Jorj recognized was quite interesting, but I'll let greater minds than mine figure out what it all means!