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

To: Michael Burry who wrote (11001)	7/27/2000 2:57:10 PM
From: Madharry	Read Replies (3) \| Respond to of 78670

Mike I only have two sad stories to tell you about holding on to stocks for 3 years and then selling htem- a friend of mine owned AMgen for three years when it was in single digits and sold it before it when on to become one of the two most successful biotech companies. I owned IMNX for 2-3 years, eventually sold it for a 25% gain. the following year it was the nasdaq leading gainer. BTW it looks like the tech world is coming to an end-alsc has sunk below 20. I purchased ICIX today at 19 3/16. It's yet another one of those business for free plays that have been going down of late. Paul Sr. has a position so if someone else jumps aboard it will make 3.

To: Michael Burry who wrote (11001)	7/27/2000 3:04:19 PM
From: Jurgis Bekepuris	Read Replies (2) \| Respond to of 78670

Michael, Any ideas on SYMCs acquisition of AXNT? I find it rather expensive although not extremely so. On the other hand, it's hard to believe that it "will be accretive to earnings" as commented. Still holding SYMC. Jurgis

To: Michael Burry who wrote (11001)	7/27/2000 3:23:55 PM
From: Freedom Fighter	Respond to of 78670

Thanks Mike. I've been looking at it closely and it looks cheap to me on the operating results. I consider the restructuring a plus. (refranchising). The thing that has kept me out of the restaurants is basically my macro view that we are at/near/past the top of a consumer cycle that has been extremely strong. I figure there's at least some risk of serious head winds over the next year or so. YUM has international exposure so it may be less vulnerable if I turn out to be correct. I haven't taken a position yet. I don't know what to make of the Ameriserve situation. Who else is getting hit by that issue? Wayne

To: Michael Burry who wrote (11001)	1/20/2001 1:10:48 AM
From: sjemmeri	Respond to of 78670

Mike, I don't know if you're hanging around here at all anymore but I'm hoping to learn a bit more on your methods. After selling a stock on new lows (e.g. YUM at 25 back in July), will you consider buying back after the stock starts trading better? Assuming the value picture hasn't changed of course. Or do you have a trouble buying a stock after its moving up? I'm specifically looking at YUM but if you can't comment on a specific stock, I'd still like to hear your philosophy. steve