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

To: James Clarke who wrote (3911)	4/24/1998 6:36:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78464

That's what I'm thinking. For me to buy, it'd have to be a firesale. The biggest firesale I've seen in recent memory was Telebras at 83 this past fall. It would have to be that bad.

To: James Clarke who wrote (3911)	4/24/1998 6:50:00 PM
From: Madharry	Read Replies (1) \| Respond to of 78464

James this is slightly off the topic but as I perceive you as the expert on SJP, I wanted to ask you whether you have delved into the issue of water in the state of Florida . Will there be enough of it to support the population growth that is envisioned by SJP?

To: James Clarke who wrote (3911)	4/28/1998 1:34:00 AM
From: Michael Burry	Read Replies (5) \| Respond to of 78464

James, you seem to have put a lot of thought into the tobacco stocks. You really like MO, and heck, at 37, I like MO. But you don't seem to mention UST much. It's approaching a 6% dividend, albeit with a 2/3 payout. But is that dividend in danger? If not, it's hard to imagine that the stock could fall much further, and in any case you get a 30- year bond rate for holding. And it has 1/4 the debt load of MO. I need to look at it further. I was early with Swisher, no doubt. But MO held up well even during 72-74, and I'm interested in that kind of stock. Tobacco is just so hated now I'd like to play it - at the right time and in the right stocks. Any further insight you have is appreciated. BTW, there is a new drug out, called Zyban. It helps people quit smoking and it really works. A pill that gets people off cigarettes. It's really a double dose of the anti-depressant Wellbutrin (generic: buproprion). There's a lot of potential here, and I have requests for it from many of my patients. Long-term, I wonder about the impact on the efficacy of smoking cessation programs. Mike