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Pastimes : The Justa & Lars Honors Bob Brinker Investment Club -- Ignore unavailable to you. Want to Upgrade?

To: Justa Werkenstiff who wrote (1099)	9/18/1998 11:59:00 AM
From: Kirk ©	Read Replies (2) \| Respond to of 15132

My take on some Buffett reading and probing. -> He sold his zero's recently raising alot of cash that he can invest. I agree with this move.....bonds are low on a relative time scale and have less appreciation potential. -> His company is valued 25% LESS than it was in July.... quote.yahoo.com I posted this yesterday suite101.com Obviously, Warren didn't agree with Bob's market call for lump sum buying at DOW 8650 as Warren is sitting on a pile of cash while good solid companies are at or near 52Wk lows. Kirk

To: Justa Werkenstiff who wrote (1099)	9/18/1998 4:49:00 PM
From: Lars	Read Replies (1) \| Respond to of 15132

Justa little jealous of my perm, >>> My question: what percentage of Buffet's total holdings are in cash and when did he raise the cash. >>> This is difficult to discern due to disclosure rules. We didn't find out about MCD until one year later. Right now, I would guess close to the $9B he mentioned which is est. 19% or so of holdings. NB: I am estimating and I have not calculated exact numbers. He does have $17B in bonds @ Gen Re. He gave very interesting comments as to intentions re: this money at the meeting Wednesday, imho. He also has a fair amount of cash constantly coming into BRK. The challenge to allocate capital is greater than ever. >>> Moreover, he is looking to put it to work. I think that is the real story. >>> You are correct. He is definitely planning on putting this to work. I think he is waiting to buy more of his current holdings vs. find new holdings. Obviously, he already owns some of the best public companies in the world. I think the media has no clue how to understand what Warren says. I mean some of these guys used to write movie reviews. >>> How many times has anyone heard from Warren that he is looking to put cash to work albeit at a lower level whatever that means? Without knowing anything else, I would have to view it as a contrary indicator. >>> I don't recall how many times. It is interesting to note that historically he has been accurate to wait and shop for buying opportunities. He was way ahead of 73-74 debacle. Bottom Line: He is waiting for the perfect pitch in the strike zone and he will wait. I just received my video of his interview with Adam Smith this year before the Annual Meeting. It is incredible. Amazing perspective on life and investing. >>> Come on Lars, time to get out of bed, adjust your perm and give us some insight. >>> You are just jealous b/c my hair looks better than yours. Bob never compliments you on your hair. >>> My question: what percentage of Buffet's total holdings are in cash and when did he raise the cash. >>> You spelled the Oracle of Omaha's name wrong. You are in grave danger of being moved down a prize level. This is like spelling Brinker's name wrong. If only Truman were here. You are lucky b/c he would have you cleaning the chalkboards. Ha!