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

To: Madharry who wrote (8206)	9/10/1999 8:43:00 PM
From: Michael Burry	Read Replies (3) \| Respond to of 78816

Re: HRC, I doubled up at 5 9/16. My rationale that I outlined on my site is still intact.

To: Madharry who wrote (8206)	9/11/1999 10:16:00 PM
From: Madharry	Read Replies (1) \| Respond to of 78816

Correction according to Barrons FTL debt which sold 6 mos ago at close to par is now at .37 to the dollar, I think the par yield is around 8.75%, almost seems like buying the bonds would be the way to go here. If the company survives you triple your money and get 27% annualy while you wait. I know nothing about this company but sure would be interested if someone feels like doing a full blown analysis or has done one. I know my bank had a big loan to Farley and FTL in the late 80s and the stock was in the 9s at the time. Perhaps they wrung out all the plant efficiencies they could and it still isn't enough or did someone loot the company?