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Strategies & Market Trends : Value Investing

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To: valueminded who wrote (1949)9/18/1997 12:14:00 PM
From: Michael Burry   of 78744
 
Chris,

Re: Little Switzerland

I love the stock/company. BUT these announcements are
very concerning for me. They call into question the
integrity of management. I have exited my position
until I find out how much they have fiddled with the
numbers, and for how long. If things turn out to
be minor, I'll re-enter -- the stock is ignored
enough that I should have time to get back in at
reasonable prices. If the situation is grave, then
the downside is back around its lows with no catalyst
for price improvement, and I'll be glad to be out.
Currently, I am sitting on a chunk of cash and riding out the market convulsions.

Good Investing,
Mike
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