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

To: James Clarke who wrote (2580)	12/2/1997 10:00:00 AM
From: Michael Burry	Read Replies (2) \| Respond to of 78645

Re: UST Maybe it's because now I'm in the South (transplant from California) that I now appreciate chewing tobacco and UST when I didn't before. Man, here women, doctors, lawyers, you name it everyone chews. And I get the feeling that use is getting even more prevalent just over the last 5 years I've been here. It's pretty stylish, I take it, and I think that the new trendy brands are just that. Skoal and Copenhagen are pretty powerful names though. There's 80% of the market, but that market can expand I think. Personally, like smoking, I find the habit pretty repulsive, but value stocks are pretty dang rare now. Re: LBO, that's my feeling too - exchange2000.com Wish I had the capital. Re: addiction, I am less queasy about investing in addiction now. No question, nicotine is a drug that should be regulated more heavily. But so is EtOH. 80% of my patients down here smoke or chew and most wish I'd just shut up - they make the argument that we don't regulate cholesterol, and heart disease is just as dangerous if not more. Funny that I'm stressing smoking cessation while I'm considering a tobacco investment, but as I see more and more patients, I'm getting a lot more realistic and less idealistic. Heck, half of the other doctors chew or smoke, and almost all are fat. Well, I didn't buy it today because I'm waiting for them to complete their first down EPS year in like forever. I expect disgust with the shares to rise more as the realization of stalled growth hits, and hopefully I'll get the shares even cheaper. MO of course is the star, but the shares have repeatedly fallen to PE's of 9 over the last 10 years.16-19 is the upper end of normal. So your boss likes UST or dislikes it? Good Investing, Mike