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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (2534)11/23/1997 5:34:00 AM
From: James Clarke  Read Replies (1) of 78618
 
Be real careful with Ispat. I'm not saying it might not be a good buy, but everybody on Wall Street heard the story in Barrons at the time of the IPO and the stock never moved. I liked the story, but the accounting is tricky and grossly misleading. Be VERY careful with p/e multiples. Don't invest a dime in this based on ratios without understanding their goodwill accounting. I'm not saying don't buy it, but just make sure you've done your homework.
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