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

To: jeffbas who wrote (8072)	8/28/1999 7:14:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78821

JB, Yeah, I saw your post to this effect on the Yahoo Board. My feeling is that we knew there was a lull in the video game segment. There has been a focus on the new platforms. And the report was delayed. I expected horrible numbers. And I bought back in at 11 1/8 during the wait anyway. The numbers were surprising but don't bother me. I'm not buying this for earnings predictability. I'm buying it so I can be there when the fruition of Redstone's activities comes to pass. Hopefully it won't be the unloading of his shares ;) I have a strong suspicion - based on the spin-off tax rules, the insider buying -we'll get bought out mid-2000. In the interim, I won't buy at higher prices than Redstone has recently paid. His slowdown could be just the result of higher share prices. Mike

To: jeffbas who wrote (8072)	8/30/1999 7:34:00 AM
From: valueminded	Read Replies (1) \| Respond to of 78821

Jeffrey: I have followed midway for quite some time, got out on a bump after having bought low. This is one I would wait until it was selling for below assets. (ex any intangibles) I am unimpressed with there game offerings. They seem to have lost something after release of MK (imo). None of my kids have ever expressed interest in any of their games. There operating results continue to deteriorate & as far as a buyout, although odder things have happened, I wouldnt count on it without a hit game in the works. Someone needs to revisit the fundamentals and explain how this still ends up on the value investing thread. At one time yes, but the operating picture for this company appears to have changed over the past several quarters & I have as of yet to see mgmts responce to it.