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To: Glenn D. Rudolph who wrote (50301)	4/14/1999 3:27:00 PM
From: Greater Fool	Respond to of 164684

Does anyone think this press release might have made net investors skittish today? ------------- Buffett Says Has No Interest In High-Tech PARIS (Reuters) - Billionaire investor Warren Buffett said Wednesday he had no interest in buying Internet or high-technology stocks because he had no notion of whether the companies would be successful in the years to come. ''I simply can't look at high-tech companies, Internet companies, and say with a high degree of assurance where those companies will be in 10 years,'' he told a news briefing here. ''We have no positions in high-tech stocks and we won't have.'' He said there would no doubt be some large successes but the number of failures would outnumber them, and these could include companies with very substantial market capitalizations now. Buffett said his rule was to invest only in things he thought he understood. Just as he did not understand speculation in cocoa beans, he could not fathom speculation in Internet stocks. ''I'm not smart enough to be in that particular game,'' said Buffett, one of the world's most successful investors who manages Omaha, Neb.-based Berkshire Hathaway Inc. (NYSE:BRKa - news) He acknowledged that his company's performance might have been better last year if it had invested in the booming high-tech stocks, but said he was not concerned about missing out. ''If I can't make money in things I understand, how can I make money in things I don't understand?'' said the legendary ''Sage of Omaha.''