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Strategies & Market Trends : Value Investing

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To: Michael Burry who wrote (6789)	4/16/1999 5:47:00 PM
From: James Clarke	Read Replies (2) of 78576

It might be interesting to go back and reread the post I did Monday or Tuesday night about how my firm is struggling to survive. That was the bottom (knock on wood) - we have outperformed the S&P by 7 1/2% in four days. My boss told me that in 30 years he has never seen anything like this happen on no news whatsoever. Even in hindsight, I can't find the immediate catalyst. I had always figured it would be interest rates. (How many times have I said "Value is its own catalyst", but I forgot that at the bottom.) I suspect we are all seeing the same thing in our own portfolios (at least those of us who didn't sell them at the bottom - DOH!) If that's what it takes to teach one not to market time when there are screaming buys out there, its a small price to pay. Even the REITs are moving. Here's to not giving it all back next week. jjc

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