Corel--$100 in 1998 Message Board

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Technology Stocks : Corel--$100 in 1998

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To: Robert Laframboise who wrote (1547)	3/1/1997 3:44:00 PM
From: Michael Burry	of 2329

Robert, Comments like yours make me wonder how diversified your portfolio is. One shouldn't need to worry about recuperating one's losses on ANY one stock. The sentiment among investors, insititutions, and brokerages is quite clear : bearish. You are not adding anything new with your CEO comments. Wall Street severely distrusts anything Cowpland has to say. Everyone knows this. Wall Street is very bearish on COSFF. Everyone knows this as well. You are simply repeating Wall Street dogma. I myself am waiting for a buy signal (my system says sell right now). but keep in mind that it would be very unlikely for a software firm with any kind of brand name to fall below book value (currently 4.75 for Corel). What do you think WP, Paradox, and Draw are worth? Can you find for me ANY profitable software firm that has ANY kind of name recognition selling below book? Or how about less than 1.2X sales (currently 5.8 for Corel)? Mike

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