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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (2554)	11/29/1997 12:47:00 AM
From: Paul Senior	Read Replies (1) of 78639

Mike Burry: I like that use of the pe ratio. re NKE and "old posts" That use of the pe ratio does make a lot of sense to me. Nike: Ah, I should really like following that stock. A very popular (IMO) "growth stock" (IMO)of 1996 when it was discussed here in late December. We both said it was likely too expensive at 60. Stock went to 75 for just a short while in Mar '97 before dropping today to 49. I remember very well feeling like an idiot in Dec. for offering my "substitute" value stock which I had purchased -- boring 'ole JC Penney - the biggest retailer of Nike products. JCP was at 48. JCP at 64 today. Almost a switcheroo in stock prices -g-. Bought JCP then as relative dividend play... still own it, still collecting that div. :>) Sometimes the tortise does beat that hare. :>) And in this case the hare seems mostly to have run in the wrong direction -g-. BUT- of course- this story is only good for a couple of days. Who knows what can happen in the market next! Paul

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