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Biotech / Medical : Oxford Health Plan (OXHP) -- Ignore unavailable to you. Want to Upgrade?

To: robt justine who wrote (532)	12/13/1997 2:18:00 PM
From: Michael Burry	Respond to of 2068

Yes, that is correct, for the reasons I detailed earlier. I would say, "should've listened to you," but it would be very hard to play Wall Street at all if I didn't believe what the companies say and what is represented on the balance sheet. I would never have invested at 70 with AR expanding like it was, but at 24-26 with the AR and AP reconciled, it should've been a good bet. But they lied. And they lied again with the press release - it's not a 164 M charge, but a 200M at least, and it's not going to be a 120M loss, but 150M at least. The big problem now is their financial standing has become shaky, and management is dishonest - no margin of safety in that. This was not the case at the 3Q, when we could logically assume that management was honest and their finances were still intact. I sell stocks when the fundamentals change, and Oxford's have. I look forward to your insights in the future on the various threads. Good investing, Mike