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Strategies & Market Trends : Value Investing

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To: peter michaelson who wrote (23748)	4/15/2006 4:42:12 PM
From: Paul Senior	of 78673

peter michaelson. Thanks for the post. Sponsor of the thread is/was Mike Burry. Nice run there by LUKOY. I don't see it mentioned on this thread though in 1999. But okay, I likely would not have recognized the potential nor bought the stock at that time anyway. I own it now though. Congratulations to you. If you're a short seller, and if you invest roughly the same amount of money in each of your shorts or buys, then LUKOY is likely to be your best or among your best investments. Well, by the aritmatic anyway. A $7.5K (for example) short at best drops to 0, for a $7.5k profit. But going long back then for $7.5K of LUKOY would have fortunately (luckoyly? -gg-)run the 1000 shares up to $87K (so far). Long term tax rate too when you sell (if not in an IRA) vs. short-term tax rate for any short sale profits (assuming you're subject to USA taxes). Also there's the "extra" of $3K in div. collected along the way. (So 3/7.5 = 40% of invested dollars already returned to stock buyers of 1999.) All very sweet. Lesson (imo): Buy right and sit tight!

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