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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (8236)9/14/1999 12:05:00 AM
From: James Clarke  Read Replies (1) of 78814
 
Mike - I have met with the management of Crossmann several times, and they are absolutely the best of the best. A gem of a company. But when people panic, what they sell first are small cap homebuilders. Crossmann winds up near book value when that happens. My buy price would be close to book value in a panic, though I agree with you it is worth much more than that. I'd say you're looking at downside risk of about $15, so be careful.

JJC
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