..........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........
>Have you ever noticed that analysts RARELY
issue a sell recommendation?
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
few, in fact, own the stock or would be willing
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"
act the same as sell recommendations to brokers
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
They are getting pressed out of business everyday by
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
thirties. General Electric was selling for 6-8
earnings. IBM fell 2/3. 30 YR Treasury bonds when from 6%
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
Haven't talked with him this year.
I would probably have bought more Berkshire
Hathaway over the years if I had understood the company
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.
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.
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
Buffett is by far the best portfolio
manager in the world if you haven't figured that out
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
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
>>I believe he was referring to intraday
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