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Strategies & Market Trends : Buffettology
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To: Jurgis Bekepuris who wrote (2101)2/10/2000 7:29:00 PM
From: Michael Burry  Read Replies (1) of 4691
 
Every point counts. Even when there's 1530 of them. I'm being patient, though I'm tempted. Seems its come down awfully fast, but at 1500, I still see about a 15% annual return for the long-term holder, with any excess returns above that coming solely from the manager (be it Buffett or his successor) to wrench excess returns from the float. There's been a lot of volume recently (which by the way could be part of the catharsis that this stock needs), and I thought that maybe there was a "Warren's ill" rumor going about that I didn't know about. Turns out I was right. Think about the carnage when he dies! I still maintain that to be the biggest risk - and the biggest potential opportunity.

Mike
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