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

To: Madharry who wrote (8411)	9/28/1999 3:07:00 PM
From: peter michaelson	Respond to of 78973

Par for the course, Armin, on market orders with fast moving stocks. That's why a lot of firms no longer accept market orders on these fast movers. If you like, you can check the Time and Sales to see that your order did fall into the appropriate range. I'd be happy to help you on that if you like. The market orders get presented to the market at either a random point in time (counted in milliseconds) or at a time the marketmaker considers advantageous to itself. Market orders are bad, usually. peter

To: Madharry who wrote (8411)	9/28/1999 8:12:00 PM
From: Michael Burry	Respond to of 78973

To me, the reason to invest in something like LKI or MAXS is precisely because it is a net net. If not, there are better businesses out there than a middleman to a monopoly and a third-tier women's shoe maker. I got out of LKI when my calculations didn't confirm Jim's statements (and the net net status I had assumed was still present wasn't). I got out of MAXS today because the time to buy it really is in the 6's, not the 8's, given the warrant situation. Despite the late rally, there were 302 new lows today on the NYSE, Berkshire Hathaway not the least of them. Worse than Short 'em if you got 'em. ;) Mike