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Technology Stocks : McAfee - network mgmt and security software

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To: Tim Robbins who wrote (37)7/16/1996 11:54:00 AM
From: Michael Burry   of 66
 
WSJ listed MCAF as among the top 10 overpriced stocks in existence.
Looking at their calculations, they are way off. They list MCAF's
PE in the 120's. Obviously they don't realize MCAF charged off
acquisition costs last quarter. Such charges should not be counted
in earnings if one analyzes stocks on an operating basis.
I worry about that high institutional ownership. Thanks for the
update on the earnings announcement. Good luck. I'm still holding,
and will for the next several years unless my calls get me out.
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