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Strategies & Market Trends : Value Investing

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To: Freedom Fighter who wrote (6868)4/21/1999 2:34:00 PM
From: Michael Burry  Read Replies (1) of 78519
 
Wayne, Re: Borders

Just looking at financial statistics of BGP, I see little wrong. This is a weak quarter for bookstores. They were only expected to earn a penny, so now they'll be about breakeven. Doesn't concern me. When they announced that they were not going to throw any more money away on the internet, I kinda thought that things weren't going well. I still like the strategy.

I am in absolutely no position to know what's going on inside the company. When just a CFO leaves, it concerns me more than when the CEO is replaced. In fact, I tend to look at a CEO being replaced as a good thing. It's a gestalt thing, though, and I'm now officially biased since I did double my position.

Mike
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