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To: jeffbas who wrote (8884)11/4/1999 1:12:00 PM
From: Michael Burry  Read Replies (2) | Respond to of 78625
 
It's not dumb. It's just fair. And I want more of a margin of safety than that. If I'm buying something, I want it to still earn 15% annually for me if things go to worst case. So that usually means above 20% in a reasonable case. As Coke and Gilette have shown, things can go wrong even with the consumer non-cyclicals.

Mike