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

To: Madharry who wrote (11008)	7/27/2000 3:31:58 PM
From: Michael Burry	1 Recommendation Read Replies (1) \| Respond to of 78687

Yeah, but unfortunately ALSC's stock value depends on industry valuations, owing to the fact that a good part of the value is an inflated portfolio that can't be sold because the company has no plant of its own. Looking at history, the market values ALSC largely on this portfolio probably because of the lack of plant. I don't agree with this, but try as I might, the operations are not worth the current price either. The absolute risk low but not zero, and in any case technically the thing looks headed to $14. I can wait. It's nothing personal against the stock (or you - I still think it was a good pick), but if I can get it at $14, then that's nearly 50% just back to here. Mike