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Berkshire Hathaway Inc. Message Board

  • bobo21029 bobo21029 Apr 21, 1999 9:06 PM Flag

    Lotta action on the

    ........I'm showing volume of 24,238
    shares.......with an average trade of over $200,000!.......wonder
    if a little of that hot money is drifting over from
    the tech/net arena?.......the beat goes on......

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    • perfessor siegel,
      I am not a learned
      perfessor, nor am I a college graduate. Fact is, I am still
      in high school, and I have never taken an economics
      or finance class. But I enjoyed your interviews on
      CNBC and CNN this monday when you pompously pronounced
      that Internet stocks are outrageously way overvalued
      and are doomed for a pop. I never read newspapers, so
      I don't know what exactly is in your WSJ article,
      but I enjoyed the way you played down the role of
      your WSJ article in "pricking" the Internet bubble.


      I have never studied finance, but I have been
      investing long enough (ever since the 8th grade) to know
      that the most learned finance theories cannot predict
      stock prices. If they could, the powerful wall street
      firms with their PhDs and MBAs would be running
      incredibly profitable mutual funds, but even I know that 80%
      of mutual funds don't do as well as the s&p500 in
      the long haul.

      So, what is my point? I am
      OUTRAGED that a man of your education and professional
      stature would go on the national media and act as though
      you KNEW Internet stocks are overvalue -- as though
      it were a SCIENTIFIC fact... as though valuation is
      a SCIENTIFIC discipline. In my mind, if your act on
      TV weren't stock price manipulation, plain and
      simple, I don't know what is. And doing it on a day when
      stock prices were oscillating wildly only makes it
      worst. Do you know better than the stock market the
      "true" value of internet stocks?! I think not, my
      friend. So please stop pretending you do with those
      enchanted pronouncements for your Ivory Tower. I only hope
      that one day you will be professionally held
      accountable for your "predictions" should they turn out to be
      wrong.

 
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