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To: Chuzzlewit who wrote (7750)	5/5/1999 11:37:00 PM
From: Jack Whitley	Respond to of 21876

<<The earnings numbers are all over the place because of variable accounting treatments (purchase accounting vs. pooling of interests, purchased R&D writeoffs, restructuring charges,etc.)>> Somewhat OT - Check out the "Letter To Shareholders" for 1998 at berkshirehathaway.com - The entire letter is a good read, but Mr. Buffet also writes an excellent analogy comparing current accounting practices to manipulating golf scores. I think it is a two-edged jab at Wall Street, 1) to call attention to Wall Street's fixation with a given company meeting Wall Street defined "earnings estimates" and 2) using a metaphor so simple that even they can understand that he sees through the accounting games. jww