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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (9331)	12/16/1999 9:53:00 AM
From: jeffbas	Read Replies (1) of 78516

I understand your selling strategy on CTX and pushed this thread hard on selling CHB. However, I think here you have to consider two factors. The first is yearend tax loss selling. The second is rising interest rates. People sell housing stocks in knee-jerk fashion if you have an uptick AND if the trend is toward rising rates. I frankly think we are far from any material impact on their results. To me this means that you could have a large bounce anytime rates take a small dip. However, as long ar rates are in a gradual cyclical uptrend, I think it will be more of a trading stock than a long term investment. I'd start buying near 20-21 - 20% below insiders buying level.

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