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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (104)	3/21/1998 4:27:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

Photograph taken this week at corner of Wall and Broad Streets: webcom.com

To: porcupine --''''> who wrote (104)	3/21/1998 6:59:00 PM
From: Freedom Fighter	Respond to of 1722

<< Unfortunately the S&P500 is currently trading at 27.5x trailing earnings. That's a 3.6% yield. This is looney based on the historical record. >> >>Mr. Market has clearly "had a few". But, though no longer sober, I don't think Mr. Market is drunk, either. Perhaps it would be more accurate to say that he is a bit "tipsy" (volatile), but not (yet) on the verge of keeling over.>> He may not be ready to keel over, but his speech is slurred, he can't walk a straight line, he can't count backwards and I wouldn't let him drive me home!

To: porcupine --''''> who wrote (104)	3/23/1998 1:05:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

Does Buffett practice the concentration he preaches? A reader writes: > I believe Buffet when he claims to prefer concentration. But it has > been an extremely long time since he has been concentrated. Shoes, > jewelry, candy, furniture, insurance, newspaper, and a bunch more > businesses, plus common stocks. I don't see as he has much choice, > but we should acknowledge that for Buffett, the concentration thing > philosophy, not practice. Buffett's reply is that his entire personal wealth is invested in a single stock. Even if viewed as a closed end fund, a view he vigorously argues against in the current BRK letter to shareholders, I don't know many investors who have their entire portfolio in a single fund.