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

To: Michael Burry who wrote (3648)	3/26/1998 8:37:00 AM
From: James Clarke	Respond to of 78542

A colleague of mine bought JBM off Mike's research. I liked Hyde better, and had some reservations. I think he sold it at 4 1/2 for a fifty percent gain in about 5 months. Lesson learned - even the most awful looking businesses can make you some good money if you buy at the right price. But you've got to give them time. And when they reach full value, don't get greedy - sell. Michael, Ben Graham is rolling in his grave that you sold a net-net. JBM is a different game now - it is no longer a net-net.

To: Michael Burry who wrote (3648)	3/26/1998 10:30:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 78542

Mike (and James): off topic Mike: can dig for deeper lessons here when you become open to them: Not a matter of stupidity; not so much wisdom as know thyself. Hard for a person to see it himself, be open to seeing it, even if he wants to. Especially as each person's investing style is evolving. But yet, as is sometime the case, pretty obvious to others even though not so readily seen by individual himself. MIKE: You do know your actions with this one stock are characteristics of your investing? That there is a pattern there? That you are doing the same thing repeatedly with other stocks also? If you can take that in - then think on why that is - why you come to the point where you sell these good stocks too early. Senior