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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (6770)4/16/1999 9:30:00 AM
From: Freedom Fighter  Read Replies (1) of 78748
 
Mike,

I'm trying to dig a little deeper into Borders because it's coming up for a vote at my investment club on Monday and because I'm considering it for my own portfolio (a token stake).

I'm really enjoying the back and forth debate about the business models because I haven't formed a view yet. I enjoy both the Borders model and the online (Amazon etc..) model.

I started looking at the last 10K available online (Edgar) and it appears that the company is quite generous in the stock options area. But there is no consistent level of grants from year to year so it's hard to know exactly what the future will hold in this area.
In any event, if they were expensed EPS would be lower by an amount worth noting.

I think you might want to take a quick look at the footnotes.

The latest numbers aren't out on Edgar yet so I'll have to get back to you if I can find anything else.

Wayne
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