Bear! Message Board - Msg: 5138030

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Strategies & Market Trends : Bear!

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To: Michael Burry who wrote (120)	7/8/1998 11:12:00 PM
From: James Clarke	of 271

Mike, Mike, Mike. Get with the spirit. Why throw cold water on everybody's fun. Your scenario has no chance of happening - that would kill the stock market, so it can't happen. Besides, Wall Street predicts 10% earnings growth. Maybe because that's what's necessary to support a 26 P/E multiple with no dividend yield. I feel like a eunuch in a whorehouse invested in a bunch of low-P/B or low P/E stocks with no downside (except that I am beating the market by a good margin even in my small cap value stocks, which are supposed to be underperforming badly). Is now the time to buy Amazon? Its 25% off its high (of two days ago). Can't go much lower...buy the dips, that always works. I think I'll wait for about 60 points lower. I'm a customer of Amazon, and I love the business. I also understand the business. So I think I'll wait for about 60 points lower (and almost definitely still pass). Anybody want to take a bet we'll see 60 points lower? Give me 2:1 odds, and I'll take a six month limit. Jim

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