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

To: jeffbas who wrote (2864)	12/22/1997 10:50:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78670

Re: HYDEA, PD Yeah, I'm back in HYDEA at 4. I'm really playing it for a return to net net value barring a fundamental change for the better. At 4 it's < 66% net net and its profitable, a respected value guy is buying. If it hits net net in two years, then that's a 50% two year gain. Classic Graham. You obviously have a lot to offer, but I wonder if your basis is Graham/Buffett or is it business school "PV of future cash flows are all that count" theory. I am very interested in your opinion on PD specifically and how it should be played, if you have any insight in the copper industry and where it is on the cycle. Mike

To: jeffbas who wrote (2864)	12/23/1997 11:20:00 AM
From: Jyoti sharma	Read Replies (2) \| Respond to of 78670

Jeffrey, Thank you for your views on AR. I agree buying copper stocks is speculative at this time. My feeling it's time to start looking at them. AR has the same book value as PD but trades at 1/3rd price. I also agree to look for a stbility in price. I am also looking for insider buying before building a big position below 20. But these days stocks move very fast and if the copper prices start moving it will be too late. Also earnings disappointment may not happen, I understand they have hedged their copper production? Happy holidays and good investing.