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

To: Sbtorres who wrote (778)	5/3/1999 11:24:00 PM
From: Fredman	Read Replies (1) \| Respond to of 1652

I have to decipher my notes, but here is some of what I understood from the meeting: They are not interested in the Internet ITSELF, as far as hardware, portals, etc. but they are VERY interested in SELLING (retailing) on the I-Net. He said 'GEICO does a nice chunk of biz on the I-net, so others might follow' (MIGHT). He said the jewelry store Tiffany's is on the Net, and Borshim's will be also in May (now ?), except the Borsheim's prices will be A LOT lower than Tiffany's. BH owns Borsheim's, but they do not own Tiffany's. Somebody asked him why he doesn't look at the super-retailers, which i took to mean the Wal-Marts, K-Marts and Super-Targets of the world, and he said because he 'has some concerns as to exactly what these stores sell that might be sold on the I-Net by others cheaper and more easily'. He said 'whenever he walks into a store, he looks at each depratment, possibly even the items they sell, and thinks how easy it would be to sell said item on the I-Net. Some easy, some not so easy'. He didn't name any items. He kinda DID elaborate on Tech stocks, why he doesn't like them: He said he asks himself 'if this company will be around in 10-15-20 years, with the same increase in Market Cap'. With the changes in the Software area(s), he doesn't understand who will be around in that time span, AND who will continue to grow every year up to those time frames. More in a bit.

To: Sbtorres who wrote (778)	5/5/1999 11:31:00 PM
From: Fredman	Respond to of 1652

Local paper reports BH buying stakes in REIT Omega Healthcare Investors, Inc. or its' affiliate: Omega Worldwide Inc. WEB said General Re MIGHT own some shares of it, but he does not know. He said a money management business owned by General Re may own stakes in them (Omega), and that company's name is New England Asset Management, but that portfolio is separate from BH's, and he says he has no input to that company. Buffett said he does NOT own any of the Omega stuff.