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

To: sailorman who wrote (2524)11/21/1997 1:18:00 PM
From: Michael Burry  Respond to of 78627
 
Re: HYDEA

It's just an illiquid stock in the hands of marketmakers,
so short-term movements mean nothing. There was a lot
of buying down at 4, so I think we have good downside
protection.

This is the "realization of value" problem defined. Buying
at a discount to intrinsic value implies the stock will
move up to intrinsic value in a reasonable period of time.
Graham wanted a 50% gain within two years. I bought at 4,
am looking for 6 within two years. With any luck, management
will get it together and it'll do better.

Good Investing,
Mike



To: sailorman who wrote (2524)11/21/1997 6:27:00 PM
From: James Clarke  Read Replies (1) | Respond to of 78627
 
Come on, if you're going to look at Hyde day to day don't bother with it, you're missing the point. Did the value of the business (the balance sheet) change in the last week? No. So I continue to sleep well.


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