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To: Madharry who wrote (8273)9/15/1999 4:48:00 PM
From: Michael Burry  Respond to of 78817
 
To hedge, I now have a 50/50 short position in Amazon and the Nasdaq 100 (my own version of an ultra-bear hedge), amounting to a total short position of about 20% of my long positions. I figure I only need about 20% since generally my longs aren't moving with the market either. Today, when the market really got nasty, Deswell, General Cigar, and HealthSouth conspired to give me a gain on the long side.

Mike