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

To: Ron Bower who wrote (2834)	12/20/1997 2:18:00 PM
From: Michael Burry	Read Replies (3) \| Respond to of 78751

Another point to consider, though it is somewhat off-topic, is consumer credit card debt is at 1.2 trillion, which is $4500 for every man woman and child in America. That is absolutely staggering. So like half the population has credit cards, and they on average have 9-10K in high interest debt. How a low rate/slowing economy will affect that and vice versa will be interesting. I admit I'm an offender, and I'll welcome lower rates, but then my job is secure and my wages are pretty sticky. I get the feeling that people are playing the market with blood money, which sets us up like the 1920's if th e market crashes severely. This is just food for thought... I'm only concerned about this issue because I am having difficulty finding good values, and having read too much Fisher and Buffett-stuff lately, I'm reluctant to invest in crappy illiquid businesses. As of now I hold Deswell (7%) and SJP (10%), and am coming off a week in which I was short several stocks for several days and closed out an arbitrage position with some small gains, so I'm biased - with all this cash I would be lying if I didn't say I'm rooting for the market to fall. Mike