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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (2414)	11/11/1997 8:43:00 AM
From: Ron Bower	Read Replies (1) of 78627

Mike, See DSWLF thread. It has a lot of garbage on it from me, but there's some very knowledgable people on it. Purely conjecture - NamTai owned a large amount of DSWLF and they've been raising cash by selling off the stock. The price showed slight weakness to 18.75 on low volume before the earnings release. After the release it ran up to 19.50 on a slight increase in volume, then suddenly plunged to 17.50 on high volume. It appeared to me that a market maker had timed a sale of stock with the earnings release. Would have had a group of buyers lined up. This is the only way I can account for the sudden drop and extremely high volume against the earnings report. This company has been showing 60% growth every Q!! Price down due to Asian selloff, but everything that's happening is beneficial to Deswell. I have been acquiring and it's now a huge part of my holdings. Also have the DSWWF warrants. Two Ws entitle a buy on one share for 9.00. Generally sell at a 10% premium. Right now stock is better value on growth, risk, and for dividends ($1.00 and likely to go higher as they pay a percentage of earnings) For what it's worth, Ron

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