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

To: Lars who wrote (1414)	10/6/1998 4:43:00 PM
From: Justa Werkenstiff	Read Replies (3) \| Respond to of 15132

Market Review You could not write a better script for a bottom in my opinion. Look at the NASDAQ. It trades to a point within its intraday correction low and bounces on flat day-over-day volume. The volume has been relatively flat for days at around 860m. The up volume spiked 300% on the NASDAQ but with lower day-over-day 52 week lows from 566 to 527 and the A/D improved on all indexes. Otherwise, NYSE was uneventful. We had an increase in volume day-over-day in the NYSE at 842m vs. 808m. No big deal. It looks to me as if the NASDAQ is leading the market around by a leash until it works out its technical damage.

To: Lars who wrote (1414)	10/6/1998 5:45:00 PM
From: David Bogdanoff	Respond to of 15132

Lars; Thank you for your response. I too am ahead on my Berkshire Hathaway stake and rather regard it as an attractive buy after its recent sharp decline. My question had to do with BB's discussion of this stock on Sunday's program and also on other occasions. I don't recall that he ever knocked Berkshire Hathaway, but he always seemed less than admiring of a stock which has outperformed market indices of all stripes. Generally, BB is quite satified with the returns of index funds, so I pay close attention to BB's comments on Berkshire Hathaway, which is like a mutual fund in that it has diverse holdings in it, but which is constructed in a way to leverage some companies assets, such as insurance companies, for the benefit of other companies, achieving a total shareholder return greater than the sum of the returns of the individual companies. This is not disparaging BB, whom I respect and listen to attentively, but a way of examining BB's investment model by comparing it with another strategy. BTW, BB gives importance to declining volumes on more recent market dips. Does anybody know of any other stock market adviser who uses this idea also? Is this a standard technical analysis method? David