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Strategies & Market Trends : Buffettology -- Ignore unavailable to you. Want to Upgrade?

To: James Clarke who wrote (1151)	3/15/1999 7:14:00 PM
From: jhg_in_kc	Read Replies (4) \| Respond to of 4691

No one dares say the emperor has no clothes. 1.Warren Buffett's investments did not perform as well as the S&P 500 last year. 2. He kept the bat on his shoulder or so it seems saying there are no "elephants" out there to buy. 3. He did do a truly fine deal to get GEn Re but the big cash float remains uninvested. Naturally, Wall St. and this investor would say "Well what have you done for me lately?' I took some money I could have invested in AOL or EMC or MSFT or SUn or Dell and let it sit idle in BRKB for too long a period of time. Another way in which the emperor has no clothes. Other than the fact that Warren Buffett is alive and the world's best stock picker, there is no raison d'detre for the existence of Berkshire Hathaway Corp. in Omaha, Neb. This is a conglomerate of many businesses. Can one imagine the Berkshire Hathaway Corporation existing intact for many years after the Great One's death or will it spin apart and the vultures cut up the cash float? even if it doesnt, you would have to guess the stock would drop by 50% immediealyt upon weB's demise. Buffett protests too much when he says this is an operating company an insurance company a business. It is his portfolio that draws the millionaire 65 year old groupies to Omaha each year to hang on his every word of wisdom and feel warm all over about cute little warren. This is a cult of personality as much as a corporation. Even when Buffett does nothing this is thought to be right because surely he knows something the rest of us mortals don't. Hey, leaving aside the GEN RE merger, I had a better year than Buffett by two fold. My patience is worn thin. The only thing this "pitiful, helpless giant" called BRKA is good for it seems, is as a hedge against a bear market. jhg