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

To: Paul Senior who wrote (7590)	6/24/1999 9:09:00 AM
From: Jyoti sharma	Respond to of 78666

Hi Paul, I own Alcatel in one of my accounts. I also had business dealings with them going back to 1985. IMHO Alcatel's problems are poor management and lousy french business environment. They compete with Lucent, Siemens, Northern Telecom, Ericsson etc with a very broad product line. I do not expect them to be a market leader in any one telecom product group and they are a high cost manufacturer. For years they were kind of equipment manufacturing arm of France Telecom. All that changed in 1986 with Alcatel buying ITT's Telecom business in Europe. They do have a large presence in Asia including China which may pay off some day? I have traded ALA twice buying below 20 and selling above 25. This time I am still holding a small position hoping it go over 30. Best wishes, Jyoti Sharma

To: Paul Senior who wrote (7590)	6/24/1999 8:43:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78666

Paul, Yep I'm back in les etats-unis. Oracle has done very well indeed as has Autodesk to a lesser extent, but I've had others, such as Apple, Borders, Deswell, National RV, and Champion take a dump. So the net is that I'm much better than I would've been without Oracle, but only a little better off than when I left. National RV in particular I can't figure out. That one, like Anchor Gaming, seems very very volatile. It's dropping hard, but it seems to have such a good story. I'm looking for someone to punch holes in that one for me. Tell me where I'm wrong! Champion is plummeting on high volume too. National RV and Champion have similar stories (pros/cons) to me, and I hold both. If they turn out very badly, I'll have learned a very valuable lesson, and that will be stay away from booming cyclicals no matter management. It's one of those cases where it seems I'll have to burn a hole in my own pocketbook to really take the lesson home. After experiencing Europe's version of the internet as well as Europe's version of retail, I can say that I have much, much more confidence in the Wal-Marts and Borders of the world. Yes, Europe, Wal-Mart is going to kick your butt. And from my experience, your retailers deserve it. Gilette, Philip Morris, and Coke all look much more powerful to me now too. Tells me I have a lot to learn. Good investing, Mike