Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: valueminded who wrote (7805)	7/21/1999 4:31:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78473

Wow. I was pissed when Case broke 46 and I bailed. Thought that at that point the spread would be too obvious and must be indicative of something gone wrong. I had a huge position, and decided to let go at 45 15/16. I was sure it would end up closing up and I'd be regretting the sale. Can't believe my eyes where it is now. But relieved at adhering to my stop (which I never thought it'd reach). Ouch, ouch, ouch. This is the first and last arbitrage play to burn my fingers. Now I have a ton of cash. Bought Mesaba Holdings with 1/4 of it, which controls tiny Mesaba airlines. Tiny, but without debt, highly profitable, with great return and growth numbers despite tiny multiples across the board. It's an airline, and while its ultimate growth may be limited, it's 5-year growth line appears reasonably assured. And at current multiples I think that's all I need. CEO recently left, took an exec with him, and there was a labor dispute. All weighed on the stock. Mike