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To: Dale Baker who wrote (58164)	1/23/2008 10:10:13 AM
From: Jurgis Bekepuris	Read Replies (1) \| Respond to of 118717

As I said, it's your call. And don't put words into my mouth. I don't remember seeing things as cheap in January 2001. But if they were, yes I would have bought them then. And who cares about 2002. It's the long term which matters. Buffett definitely did not buy Gen Re at the best price, does anyone blame him for that? How about Washington Post? And sure you can hide behind your great past returns as if that proves that your every call should be right. I don't see other great money managers - Buffett, Whitman or anyone going to cash right now and they will never do it when things are cheap. Actually, Buffett is finally deploying a lot of cash for the first time in ages.

To: Dale Baker who wrote (58164)	1/23/2008 10:38:57 AM
From: anializer	Read Replies (3) \| Respond to of 118717

As some one who has client funds under management, you have alot more fiduciary responsibility to protect and preserve capital where you see fit than do most people here. It's alot different from many who are speculating on a bottom area here and there with there own funds. Sometimes you'll be right, and sometimes you'll be wrong, but you get paid to use your best judgment. Capital preservation has to be # 1 and all judgements have to be made with that in mind. jmho