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Strategies & Market Trends : Value Investing

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To: Harlan Huber who wrote (54)	12/7/1996 5:15:00 PM
From: Michael Burry	of 78748

<<Does anyone have an opinion how long before a market correction starts in earnest? >> I think most reasonable investors realize that this market is overextended. I feel we've all made money and there's no reason to hold out for the bull's last legs. As I posted before, I am in over 70% cash at the moment. I feel very strongly that there is the potential for not simply a correction, but a crash. Plot the monthly Dow back 40 years, and you'll see what I am worried about. Interest rates are saving this market for the time being, but for how long? Interesting fact -- if you had put your money in the Dow in the late sixties, even by 1983 you would still be at a loss. Mike

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