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Strategies & Market Trends : Value Investing
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To: Michael Burry who wrote (6308)3/17/1999 2:43:00 PM
From: Michael Burry  Read Replies (1) of 78478
 
After more thought, I went ahead and entered CPU at 5 3/4.
Still, the largest PC/parts retailer, with a marquee name
and an excellent web address/site. Debt is manageable with
cash on hand, and the internet site will be spun-off soon. Direct
sales and service revenue are growing quickly. Insiders
bought nearly $7 million worth of shares at 14-17 less than
six months ago, and it really was two horrible consecutive
days that brought us to these $6 levels. I see an inability
of the Street to see past the turmoil involved in the Computer
City acquisition coinciding with lower ASP's. The only downside
I see is that the shares are still falling. I took a full
position in this falling knife.

Mike
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