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

To: cfimx who wrote (8347)	9/23/1999 9:47:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 79164

Twister -good point. All the private phone calls and private analyst calls that go on haven't helped the sell-side analysts beat the market one wit. But when the insiders lay down money, take initial stakes, double their stakes, and don't talk, I'm listening. Mattel, Tricon Global, Analysts International, LaSalle Hotel all have spoken loud and clear in this regard, IMO. Mike

To: cfimx who wrote (8347)	9/23/1999 10:08:00 PM
From: jeffbas	Read Replies (1) \| Respond to of 79164

With respect to "INTRINSIC value of the business", beauty is in the eye of the beholder. I would like to see someone try to provide a precise definition that everyone will accept and such that it could be used in stock selection and tested empirically. Even with the stocks we discuss which are clearly selling for prices closer to intrinsic value (as we would define it) we rarely agree on what is a good buy. Furthermore, the guy at MSFT is hardly any old "someone" with respect to a public comment that his own company's stock is grossly overpriced. It will certainly change SOME perceptions of what the intrinsic value of MSFT is, and in my opinion it should.