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Non-Tech : Berkshire Hathaway Class B -- Ignore unavailable to you. Want to Upgrade?

To: jhg_in_kc who wrote (685)	3/15/1999 2:09:00 PM
From: Bruce McGaughey	Respond to of 1652

"Buffett needs to buy something or this is just a conglomerate of companies with no raison d'etre and the day Buffett passes, that will become painfully clear. I wish Warren would swing at a pitch. jhg" It's hard to have faith in something on a day to day basis. You must have patience and believe in the game plan that got us here. As I understand it, Mr. Buffett's game plan has been to take insurance companies' floats and invest that money in undervalued stocks, and not in bonds, as is the norm. As the stock market has risen, he has done very well. He has just absorbed one of the biggest insurance concerns in the world (General Re). GRN had one of the biggest, if not THE biggest bond portfolio in the world. Now, is he going to convert all those bonds into stock holdings? He probably will, to some extent. Will BRK be higher in a year ? Yes. Will BRK be higher in two years ? I think so.

To: jhg_in_kc who wrote (685)	3/15/1999 3:14:00 PM
From: Richard Forsythe	Read Replies (1) \| Respond to of 1652

Given that the stock was up 180 on Friday, being down 110 today is hardly a disaster. Also, he only closed the GRN deal 3 months ago. Give him a chance! He sold all the stock GRN had, but he's been fairly acquisitive during 98 with the flight purchases. And, he isn't telling what he's done with Silver, oil or the zero coupons. So there's potentially a lot that's going on without our knowledge. I think there may have been an expectation of "something" to be announced in the report, and since there was no real news, the stock is off. Oh well, gives us another buying opp! Clearly the stock hasn't been a Microsoft over the last few years, but given that float has just tripled with only a 20% dilution in stock, while the price has dropped 15%, means the stock is probably undervalued. If you don't like the idea of the stock doing nothing for 6 months, stick to the high techs (which is where the bulk of my money is)! Richard