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Berkshire Hathaway Inc. Message Board

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  • bobo21029 bobo21029 Dec 6, 1998 10:23 AM Flag

    predictions

    1. Impeachment will move forward on the narrow
    issue of perjury.....and the Dow won't like it one
    bit.2. WEB will buy into the technology
    sector.......dare I say internet?.........this thing is just
    getting too big to ignore.3. Legalized gambling revenues
    will decline nationwide, much to the concern of state
    treasuries who have become dependent on
    them.......the"new"casino gambling of the 21st century is on-line day
    trading......its growth will make the speculation of the Roarin'
    20s look like penny ante poker. 4. The beat will go
    on..........

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    • "1. Impeachment will move forward on the narrow
      issue of perjury.....and the Dow won't like it one
      bit."
      Impeachment will likely be gone from the scene by New Years.
      It is a total farce at this point, and the markets
      know it!

      "2. WEB will buy into the technology
      sector.......dare I say internet?.........this thing is just
      getting too big to ignore."
      WEB might be interested,
      but only in AB's "consumer monopolies", and only at
      bargain prices. Not here, not now.

      "3. Legalized
      gambling revenues will decline nationwide, much to the
      concern of state treasuries who have become dependent on
      them.......the "new"casino gambling of the 21st century is
      on-line day trading......its growth will make the
      speculation of the Roarin' 20s look like penny ante
      poker."
      Perhaps, as the day traders have made their appearance in
      BRK! Seriously, gambling will create a few "consumer
      monopolies", but I think Mr. Buffett will stay away, as he did
      with cigarette companies.

      re: Pepsi
      - Frito
      Lay is a consumer monopoly. Pepsi-Cola is not. When
      they separate, Frito Lay may be a candidate for
      ownership (price, price, price)

      re: not caring about
      intrinsic value
      - Investors must care about (present and
      future) intrinsic value of their holdings, as the basis
      of their decision to invest. Accolytes and cultists
      are free to cast off this concern. Their money is at
      serious risk, of course.

 
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