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Extra ordinary items - What a pro formance.

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| April 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Financial Director)

You have to hand it to Warren Buffett, the sage of Omaha and the man behind Berkshire Hathaway. The company's net asset value has underperformed the S&P500 index in just four years since 1965. Buffett, of course, is just as famous for his folksy wisdom. This year he has a few well-chosen words about 'pro forma' earnings, a mechanism by which some businesses try to tell ...

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