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Berkshire Hathaway Inc. Message Board

  • bobo21029 bobo21029 Sep 19, 1998 10:33 AM Flag

    Join me..........

    ..........by calling your Congressman and
    Senators and asking for Clinton's resignation.......the
    markets have enough problems already without this mess
    dragging on.....it's not about sex; it's about fitness to
    lead.........the impending video gross-out will be the last
    straw.......we've got to move on now........

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    • i also notice by the time they issue the sell recommendation, it's too late. the stock is already down 40% & may be oversold & about to recover.

    • >Have you ever noticed that analysts RARELY
      issue a sell recommendation?


      This is
      because, if they did, the company would get mad at them
      and withhold earnings "directions" and also the
      brokerage would lose out on any investment banking business
      from the company.

    • Brokerage business 101.

      Anybody can buy a
      stock "buy" recommendation, only a few
      people, very
      few, in fact, own the stock or would be willing
      to
      short it.

      The way the pitch goes, "I have this
      great stock, why don't
      you sell some other stock,
      cash in some CDs, etc and BUY IT"

      Downgrades
      act the same as sell recommendations to brokers
      in
      the firm. Every time there is a downgrade, brokers
      are encouraged to check every client's portfolio, and
      make a courtesy call.

      Ever been a stock
      broker?

      They are getting pressed out of business everyday by
      the computer.

    • Have you ever noticed that analysts RARELY issue
      a sell recommendation? (Only 1% of all
      recommendations use the sell word). They do not have the guts to
      recommend a sell since it can evoke bad feelings of a stock
      that has declined, of a stock that is sold and
      reinvested in a poorer-performing stock, or if the stock is
      sold and then goes up after it is sold. Analysts use
      "nice terms" for sell recommendations such as:
      underperform, neutral and hold. Since there are only three
      things that can be done with a stock(buy,hold,sell), is
      it possible that only 1% of all stocks should be
      sold? I think not. Keep this in mind the next time you
      listen to the advice of a so-called "professional".
      Would any analysts care to comment? Or, would any
      intelligent people like to comment?

    • that stat on gold is repeated over & over by
      gold-selling charlatans. it went up so much after '69 because
      nixon took u.s. off the gold standard, which had it
      pegged at $35 an ounce. the statistic is a transparent
      fraud. incidentally, when fools like jack kemp tell us
      we need to get back on the gold standard, remind
      them that we were on it during the Great Depression.

    • Something like that.

      That was in the bear
      market of the mid seventies, almost as bad
      as the
      thirties. General Electric was selling for 6-8
      times
      earnings. IBM fell 2/3. 30 YR Treasury bonds when from 6%
      to
      14 1/2% in 1981. Gold did better than BRK
      from 1969 to 1980!

    • I use to talk with him periodically when he was
      still writing his column "Intrinsic Value" for the Wall
      Street Journal. He went on leave in January purportedly
      to write another book.

      Roger is very good!
      His postion in BRKA is in the 10 to 50 million dollar
      range.

      Haven't talked with him this year.

    • I would probably have bought more Berkshire
      Hathaway over the years if I had understood the company
      better.

      The key reason that BRK didn't fall more in 1987 is
      because it is not heavily owned by institutions and it is
      not in a major index and there are no publicly traded
      options in stock.

      Just as now, in 1987 BRK was
      heavily in cash and municipal bonds. If my memory serves
      me correctly BRK only had three publicly traded
      stocks at the top in 87: Washington Post, Capital Cities
      ABC, and GEICO. Buffett had liquidated his entire
      stock portfolio except for these three.

      When I
      went to the 1988 stockholders meeting, Buffett was
      smiling like a Cheshire cat, he had just started buying
      Coca Cola then, but we didn't find out until the 1990
      annual report in March of 1991. Also, money was flooding
      into the business from reinsurance profits.

      We
      really won't know what Buffett is doing with his $30-$40
      billion cash horde until 2001 or 2002. He doesn't talk
      about existing positions until he has all he will ever
      want.

      Buffett is by far the best portfolio
      manager in the world if you haven't figured that out
      yet.

      And all his business associates greatly admire him.
      See the message by his gardener. In the financial
      world, Buffett's word has almost as much impact as Alan
      Greenspan. And of course he
      leaves every politican in the
      dust!!

      Only in America!!

    • I think the price drop referred to happened in
      1989 (4th Q) to 1990 (4th Q).

      The high in the
      4th quarter of 1989 was 8900 and the low in the 4th
      quarter of 1990 was 5500. It was caused by the usual
      Barron's article (sometime in January of 1990) about BRK
      being overvalued. Only the drop calculates as 38% not
      48%. If there was a bigger one, it was probably back
      in the 70s and you can't see it on any charts I've
      seen.

    • >>I believe he was referring to intraday
      Low... >>

      even for an intra-day low that's
      a lot more - and i suspect that BRK could fall a
      bit further this time if KO and G decline further -
      whether its wise or not, i'm holding back from buying for
      the present, since my valuation puts it at about $40k
      cf. the current $60k (not that i'd be buying A's
      anyhow) whether this is wise, or whether i have the
      patience, only time will tell

      i liked your comments
      re tight vs selfish, i think that they're right on
      the money. My brother is a lot better than i about
      not spending money, but he picks flowers for people,
      does dishes and so forth - no money spent, but i think
      that people appreciate things that you've spent time
      doing rather than money buying, i know that i certainly
      do

      peter xyz

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