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Strategies & Market Trends : Value Investing

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To: Axel Gunderson who wrote (4807)	8/24/1998 2:05:00 PM
From: Michael Burry	Read Replies (2) of 78596

Oh I know you are. I'm not disagreeing with what you're saying. I don't think I need to define long-term, though - any attempt to do so is arbitrary. I'll buy a company that is undervalued for any number of reasons and when I buy it I'll have a target. I want that target hit sooner rather than later. Part of a margin of safety is knowing that the company will be there for a while, and part of it is the potential to go up in a reasonable time frame. Speaking of trading, I had 30% turnover today alone - I flipped St. Joe for Florida East Coast, YPF for Telebras, and New Holland for Case. Mike

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