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

To: jeffbas who wrote (8664)	10/18/1999 12:09:00 PM
From: James Clarke	Read Replies (4) \| Respond to of 78662

I tried to post this last night, but I don't think it went through. If the Dow fails to hold its rally through the morning, today could be our crash. Its noon and the Dow is down. You heard it here first. "Hamlet, though art slain. No medicine in the world can do thee good. In thee there is not half an hour's life. The treacherous instrument is in thy hand, Unbated and envenom'd" - Hamlet, Act V Have a nice day. JJC

To: jeffbas who wrote (8664)	10/21/1999 9:24:00 PM
From: Michael Burry	Respond to of 78662

Re: HRC vs. EBSC, can you believe I haven't even looked at EBSC yet? Has it met the three buyers rule yet? HRC to me is being exceptionally well run considering the acquisition integration and industry challenges that it is facing. Physician practices are going bankrupt because insurers are not honoring their contracts and paying bills on time. So the huge accounts receivable is not HRC-specific. But most analysts look at the AR and DSO and just think warning signs. Despite this, cash flow remains large. It is as contrarian as anything. With billions in debt and the industry they are in, I think most institutions are just glancing right by. Not noticing the half-billion in free cash flow, or the 5X coverage ratio. Add in tremendous tax-loss selling, and I thin that there is a very good chance of a 50% two-year gain on the conservative side from these levels. If it goes to the 4's I'm buying more. Mike