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

To: James Clarke who wrote (8143)	9/6/1999 1:48:00 AM
From: Michael Burry	Respond to of 78842

Re: LKI Jim, reports of "Millenium diamond" sales taking off? From who and from where? Lazare buying its own shares? But it just had to borrow more money as it violated certain non-critical cash flow covenants. And it is no longer a net net by my calculation: net net at 8.01 thanks to the increased borrowing. But I agree. If the story is going to happen, it will happen soon. As for the downside, I disagree. If they can't turn around cash flow, and continue to borrow, well... I think the question neither of us has answered is "How will this company every grow profit as the middleman for a near-monopoly?" I'm buying in, but with a short trigger. Any further bad news (or new lows) and I'm out. Mike