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To: FJB who wrote (18912)	5/6/1998 6:26:00 AM
From: Daniel Schuh	Read Replies (1) \| Respond to of 24154

Buffett just doesn't understand options theory. For those who didn't follow Robert's second link, you'll be happy to know Microsoft rules again. Amazingly, Microsoft profits for 1996 go from $2.825 billion to -$10.175 billion when stock option costs are accounted for (wrongly, I'm sure we'll be told). Cheers, Dan.

To: FJB who wrote (18912)	5/8/1998 1:30:00 AM
From: 16yearcycle	Read Replies (1) \| Respond to of 24154

That is all very interesting but, despite Buffett's protests, he chooses to own 4 of the main companies who are gaining a huge advantage from this accounting magic: Disney, Coke, Gillette, and Travelers. Can you imagine being so ignorant as to write an article slamming options, using Buffett's quotes along the way, but not noting that Buffett has ENORMOUS positions in companies you note as great abusers? Such is the world we live in; loaded with truths, half-truths and outright lies. Gretchen is a buddy of Warren's. I am a shareholder of Berkshire Hathaway.