Transcription of COMPUTER NETWORKING: {PRIVATE}
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555 CALIFORNIA STREET SAN FRANCISCO 94104 (415) 781-9700 February 20, 1997 COMPUTER networking : { private }An Open Letter to warren buffett Re: Cisco SystemsPaul Johnson, CFA (212) 407-0415 Paul Silverstein (212) 407-0440Mr. warren BuffettChairman of the Board andChief Executive OfficerBerkshire Hathaway Kiewit PlazaOmaha, Nebraska 68131 Dear warren :If You Think Coke Is A Good Investment ..ROBERTSON, STEPHENS & COMPANY1 Paul Johnson, CFAR obertson, Stephens & Company590 Madison AvenueNew York, NY 10022 February 20, 1997 Dear Mr. buffett :We have been ardent students and admirers of your investment career. Amongother tenets of your investment discipline, we share the following: Long-term investment horizons; A focus on operating business fundamentals and not stock marketsentiment; Fundamental analysis that focuses on neither value nor growth rubrics, which as you have so presciently noted, in and ofthemselves are devoid of any uti
Lowenstein’s Buffett and Robert Hagstrom’s The Warren Buffett Way. Lowenstein offers the following guide—gleaned from your letters to shareholders, other writings and comments over the years—to your investment discipline:
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