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

To: Paul Senior who wrote (9026)	11/26/1999 3:50:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78602

Paul, have you eaten at one? I've tasted it in Palo Alto, San Jose, and Seattle. Just a very competitive business. In Palo Alto it's become one of the top power-broker meeting places. In San Jose I've often seen it empty. In Seattle there was a 2 hour wait. The food is passable, but after eating there several times last year, I don't see any urgency or need to go back. They likely do not earn their cost of capital in the long term IMO. Wholesale bakery? Flowers' wholesale bakery was going for about 2X EBITDA not too long ago. Not much respect. OSSI, well, there's one that I crave every few months. Seems like forever. Could they be the one exception to the publicly-traded full-service restaurant jinx? Maybe, maybe... Should the economy reverse itself, where would these be? Seems like I'm periodically tempted but inevitably am able to pull away from the table without tasting these stocks. I'm patient and curious to see how cheap they can get. Mike

To: Paul Senior who wrote (9026)	11/27/1999 1:19:00 PM
From: John Lacelle	Read Replies (2) \| Respond to of 78602

paul et al, I am looking at a company that looks like a great turnaround. However, due to its rather heavy slide over the past 6 months I figure that there is going to be a pretty massive wash sale on it as people take their loss, and then move back in after the 30 day time limit is up. My question is: When does this tax sell off season hit its peak? I would guess that this thing will bottom about mid December but does it happen more toward January or should I be ready to jump in on the sale prices next week? -John