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Strategies & Market Trends : Buffettology

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To: James Clarke who wrote (259)	8/30/1998 12:57:00 PM
From: Michael Burry	Read Replies (2) of 4690

OK, Gilette's a great company, but revenues fell and profits squeaked upward last year. It's a great company because it introduced this new triple razor and even I'm using it. But will I pay over 30X earnings for a company that is barely if at all growing revenues? Especially when there are so many other stocks that are more worthy. So far, the S&P has fallen, but small and mid caps have fallen harder. The S&P's top 15-20 are even more overvalued relative to those of us here on Earth than they were at the market top. I still think we're a long way from buying those types of Buffett companies. There's nothing but sentiment to keep them falling another 25-50% easy. When small-caps outperform once again and large cap is out, then I'll be looking at Gilette and its ilk. Mike

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