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

To: John Stichnoth who wrote (7983)	8/7/1999 10:40:00 AM
From: Michael Burry	Respond to of 78817

Re: Callaway (as I've been hit twice on this) the deal is it looks crappy. We can see no recovery, and we're heading into the winter again. It's bleak. But it's at its bottom. It's still profitable, and those profits will grow, and it pays nearly a 3% dividend. I've got Callaway irons, Orlimar driver, Adams fairway wood, Callaway BJ putter. What the good golfers I know (lord knows I'm not one of them) really think are nice are the Callaway product. After using my putter, several people have told me they need to upgrade. And when the golf ball comes out it will be another reliable revenue stream. Really, Taylor Made golf balls look nice, but they just imitate every other ball on the market. If Callaway can use their 125M to come up with a patentable all-new golf ball that is still legal, they could really shine. Looks like their AR is still very high right now. I'm not buying yet. Just like I'm not buying brk yet. But as the dog days of fall come upon us, tax-loss selling intensifies, and everything goes on sale, these are some of the ones I'll be looking at it. <ole