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Strategies & Market Trends : Value Investing
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To: jeffbas who wrote (2858)12/22/1997 10:28:00 PM
From: Michael Burry  Read Replies (1) of 78666
 
Jeffrey,

Net nets are played as a basket of them as part of
a diversified portfolio and held for two years and
let go if they haven't moved up 50%. There doesn't need to be
a catalyst. Value guy Nasgowitz of Heartland Value has been
buying and now owns like 24% if I remember right.
In this case there is something of a catalyst, as the company
has been selling off non-core business and concentrating on
the specialty high end triathlete sports along with your
average runner. These serve the same general distribution
channels, and hence profitability is improving. There's
a lot to like here. At a 40% discount to net net any
risk from quality of inventory is negated.

I tried to buy at 3 3/4 today but didn't get it, so then
I tried at 4. Now I'm gonna check and see if I got it.

Mike
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