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

To: Madharry who wrote (2557)	6/22/2000 1:38:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 4691

A couple of my "Buffett" tech plays: Today I added to AT & T. What MCI Worldcom is willing to do to have the Sprint deal go through is ridiculous, and only benefits AT&T. I've said from the beginning that the danger is not whether or not the deal goes through, but how much MCI is willing to shed - and it appears they're willing to give the store away to get the deal done. Is it pride? I'm not sure, but it only benefits AT&T in the long-distance area. I find AT&T's assets to be worth more than twice the current stock price, and it is probable one of the few guaranteed long-term winners in the creep of broadband into our daily lives. At today's price, you're getting the long distance business, which contrary to popular belief still has a big moat around it, for about the $18 billion it generates in EBITDA every year. A recent CSFB report after their analyst had dinner with T's CEO and CFO clarifies how the rest of AWE will be spun off and makes the value even more clear. Not surprisingly, CSFB now has a sum of assets target of $85, which approximates mine. So I stand by my original analysis over on VSN, and have added to the position. I also added Symantec (SYMC) back to the portfolio today at 57 1/2. That has been a trading vehicle for me the last two trips to the 70's. Maybe I can get myself to hold on the next time it reaches that level. Good investing, Mike