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

To: Shane M who wrote (8103)	8/30/1999 11:38:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78817

FIC has a good ways to fall now. Think you're smart waiting. I must say that everything I've been tracking or buying as a "Buffett-like" stock hasn't performed at all well the last few years. The ones that have done well have fallen back significantly given enough time. I'd think maybe I'm not looking at the right kind of Buffett stocks, but even his stocks are not tearing up the charts the last few years. All that money being sucked into internets and tech is coming from somewhere, and my gut tells me it's coming from a lot of former investors in solid, money-making non-tech sectors. Look at the S&P 500 ex-technology and it's done nothing this year. Might even be down. The Dow has been helped tremendously by IBM. Fair Isaac I bought in the 34's, watched it shoot to 44+. There was a point when it fell the day before earnings. Volume shot up in the middle of the day and it cratered a couple points. I called my wife (she's in IR and has access to a lot of stuff I don't) and screamed "what the hell's happening?" The worst feeling I've had about a stock all year. She pointed out some CBS story about a Senate hearing on what goes into credit scores. I said, "no way." Didn't know the earnings date though. If I had I would have sold, as it was obvious something had leaked. So I did finally sell, 18 points lower. Mike