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Strategies & Market Trends : Value Investing

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To: Michael Burry who started this subject	1/13/2001 5:18:50 PM
From: MCsweet	Read Replies (2) of 78636

Movie Gallery MOVI Last time I posted on this board regarding video-store stock you guys slammed me. I still think this stock is worth a look, and the market is starting to agree. Look at the most recent corporate release: This year MOVI grew sales and earnings, bought back stock, and payed down some of its debt. Next year earnings are forecast to be $1.10 to $1.20 and cash earnings (e.g. earnings including non-cash amortization of goodwill) of $1.50 to $1.60. Granted, video-stores aren't exactly the growth story of the 21st century, but with a forward price-to-cash earnings multiple of 3, you need only a few years for the company to earn its market capitalization and then some. Moreover, MOVI is located in rural areas, where competing technologies (e.g. VOD) are likely to take root the latest. Any comments? MC Disclaimer: I am long this stock.

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