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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: jeffbas who wrote (7449)	6/7/1999 7:45:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78644

Things not to like about SCS: 1. Not an unknown story. Heck, it got a full-bore bullish headline and story in Barron's. THe flip side is it rallied, and now the Barron's effect is worn off. It might just be getting overlooked again. 2. Stock likely to flounder as perception is it is cyclical. 3. It is indeed cyclical. 4. There's a doubt in my mind whether the founder isn't trying a bit too hard to pump the stock. That said, I like SCS a lot. It's basically got 9 of the 10 characteristics I'd look for. I'd buy it now, but it seems to be on a steep downhill slope right now, and I'm hoping to get it cheaper. I put it in the same league as Champion and Borders. Solid leaders in their industries, deserving of higher valuations but they may never get there. Still downside is limited in this trio, IMO. And especially in Steelcase, I love the broadbased insider buying. Mike