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Technology Stocks : Vitech America tackles Brazil -- Ignore unavailable to you. Want to Upgrade?

To: robt justine who wrote (124)	10/30/1997 11:34:00 AM
From: Michael Burry	Respond to of 153

Excellent analysis. That's how I see it too. <<Shorts will cover if they see a blood transfusion take place that will keep the body alive and tie up their short-invested money for another year or so.>> I hadn't thought of that. Makes sense. Good Investing, Mike

To: robt justine who wrote (124)	10/30/1997 4:49:00 PM
From: CMon	Read Replies (2) \| Respond to of 153

It seems a little unfair to me to compare inventory turns at Vitech to the industry. They are operating in an emerging market. There is no FedEx to deliver from the factory to purchaser in one day, nor can you use a just-in-time inventory system when imported parts can sit in port for weeks. As for bad debts: Brazil is a Roman law country. You bounce a check you go to jail. Their bad debt experience has been half what they've reserved. Again, an industry comaparison seems inappropriate. As for receivables, watch the DSO's.