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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (9100)12/2/1999 2:12:00 AM
From: Michael Burry  Read Replies (2) of 78595
 
I'll take the devil I do know vs. the devil I don't

Which one do you know again? Hey, with Deswell, Ron and I could talk with the CEO virtually at will. Didn't feel him to be a devil, but maybe that's beside the point. My point is that I don't see the US accounting system offering much more protection. And if something does look suspect, I certainly as an individual investor am in no position to ask the CEO about it much less expect an honest answer.

I'll just leave it your words: "I don't trust the accounting system or the legal system or the integrity or capability of the managerial class." Except I'll apply that as readily to most US businesses.

Mike
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