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

To: Michael Burry who wrote (2534)	11/22/1997 6:22:00 PM
From: jeffbas	Respond to of 78618

I read the article about the latter two. Both looked to have some serious problems with their core business - the former selling pretty much commodity products and the latter possibly having an obsolete core business. I have not read the other yet, but if Ispat is successfully using a lower cost technology, and is selling at a value price, it could be interesting.

To: Michael Burry who wrote (2534)	11/23/1997 5:34:00 AM
From: James Clarke	Read Replies (1) \| Respond to of 78618

Be real careful with Ispat. I'm not saying it might not be a good buy, but everybody on Wall Street heard the story in Barrons at the time of the IPO and the stock never moved. I liked the story, but the accounting is tricky and grossly misleading. Be VERY careful with p/e multiples. Don't invest a dime in this based on ratios without understanding their goodwill accounting. I'm not saying don't buy it, but just make sure you've done your homework.