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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 (355)	5/27/1998 10:06:00 PM
From: Freedom Fighter	Respond to of 1722

Buffett on Briloff >"Buffett said he was well aware of Briloff, that Briloff had >sent him letters pertaining to the controversy and that, after >close examination, Buffett had concluded that Disney's >accounting is fine." I saw that letter also. Since we were not privy to the conversation this is purely speculation, but there is a difference between fine (legal and appropriate) and fine (reflective of the value of the company). That is the point that Briloff was trying to make I'm sure. The accounting was legal and appropriate but tended to make the company's operating performance appear better than it actually was for the period in question. As value investors we should want to know what the reality is not what the appearance is! Even if the appearance is legal and appropriate according to FASB.

To: porcupine --''''> who wrote (355)	5/28/1998 11:28:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

Gates Welcomes Buffett; Passes on Gore. Today's Wall Street Journal (p. B4) reports: "Bill Gates's friend and mentor, Warren Buffett, is helping him out again -- this time with an after-dinner speech. Mr. Buffett is among about 135 chief executives and other top industry officials who are converging today for Microsoft Corp.'s second CEO summit, which gives Mr. Gates a chance to press his vision for corporate computing. After a full day of presentations and panels at a hotel, the Berkshire Hathaway Inc. chairman is scheduled to give the CEO's a 'fireside chat' at Mr. Gates's $60,000,000 mansion..... "Unlike last year, Vice president Al Gore wasn't invited, which organizers say reflects the business focus of the event -- not displeasure with the administration's suit against Microsoft."