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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (5610)	12/30/1998 2:17:00 PM
From: Ron Bower	Read Replies (1) of 78777

Mike & all, Seems to me that we'll see the internet stocks fall off starting next week. No one wanting to take profits just before year end. My guess is that once the selling starts, free fall. Shorts look like a good move to me, but... Crazy market. I have been following Japan and feel the Nikkei to be overpriced. Japan is at least 3 years away from recovery, likely 5 or more. There's more bad news coming. At 115 range on the yen they cannot export their way out of trouble and they have no domestic demand. I decided to leave Japan to the Pros. JWG - Next to Deswell my most profitable investment. It is definitely undervalued at current price - about 60% of BV - with no debt and a cash surplus. I've been buying both JWG and DSWLF seeing very little downside on either and current price due purely to tax loss selling. FWIW, Ron

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