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Strategies & Market Trends : Value Investing

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To: James Clarke who wrote (7966)	8/5/1999 3:42:00 PM
From: Michael Burry	Read Replies (1) of 78826

I don't know, Jim. Champion beat estimates last time too. It treaded against its lows then broke to new ones. I bailed. That action was just too weak. Now it's 25% lower and continuing to make new lows. Same thing is going with Clayton. I'm sure the company is sopping up shares in the 10 range, trying to not let the stock close in the single digits. But a new low has already been made, through heretofore strong support. Has the future been written? I'm sure a close below 10 will bring a new breed of sellers. On the fundamental level, do you know if Clayton has similar agreements to buy back unsold retail inventory? Can you clarify how it won't be affected like Champion by bankrupted retailers? Mike

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