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To: Freedom Fighter who wrote (5232)11/1/1998 1:07:00 PM
From: cfimx  Respond to of 78968
 
Wayne, I agree with you about the margin of safety. That's why Buffet gets away with doing it in his head. Case in point, the sell side analysts crunched the numbers on KO to death back in 1994 and 89 ( i think) and proclaimed it a hold based on p/e. Meanwhile WEB just took the long long view ( along with a lower discount rate ) and said whoa, this is really cheap. They also ALL missed General Foods.