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Strategies & Market Trends : Value Investing

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To: jeffbas who wrote (8072)	8/28/1999 7:14:00 PM
From: Michael Burry	Read Replies (1) of 78821

JB, Yeah, I saw your post to this effect on the Yahoo Board. My feeling is that we knew there was a lull in the video game segment. There has been a focus on the new platforms. And the report was delayed. I expected horrible numbers. And I bought back in at 11 1/8 during the wait anyway. The numbers were surprising but don't bother me. I'm not buying this for earnings predictability. I'm buying it so I can be there when the fruition of Redstone's activities comes to pass. Hopefully it won't be the unloading of his shares ;) I have a strong suspicion - based on the spin-off tax rules, the insider buying -we'll get bought out mid-2000. In the interim, I won't buy at higher prices than Redstone has recently paid. His slowdown could be just the result of higher share prices. Mike

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