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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: HB who wrote (28353)	5/21/1998 1:55:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 132070

Re: names, SFAM, MWY First off, there's only one MB or Michael B. here. Just call me Burry if I become a regular. MWY came to my attention via the spin-off, and when it broke through its 16.5 support, I thought, "I wonder how low it'd go?" I try to wait for the absolute bottom - where when I look 3 years out the price looks just plain stupidfunnyridiculous. I just bought UST on those grounds, and now MWY. This thread came to my attention when I text searched SI for MWY and MB was the most prolific poster. You may be able to get MWY at 12 again. In fact, I would say it is likely, on both technical and weak shareholder grounds. Re: SFAM. That and SMOD were my two favorite stocks when I got onto SI in early 96. Especially SFAM had a high quality thread of contrarian, sound-minded thinkers during that summer sell-off. Mr. Sam made us all a lot of money. But it seems to me the end-game for a SFAM is M&A, since they will never ooze the cash flow required for me to hold it long term. If they don't attain the proper economies of scale before an industry leader like AMAT catches up, then SFAM is splat on its windshield. IMO, this applies to most capital- and tech- intensive small caps competing in vicious commodity-like businesses. That said, even splattable small caps can become valuable, and if they do, an acquisition becomes more likely. I'm looking for SFAM to get down below book. That'd be stupidfunnyridiculous for me. For now it's on my watchlist. Good Investing, Mike

To: HB who wrote (28353)	5/21/1998 11:59:00 PM
From: don ryndak	Respond to of 132070

HB I have been off trying to figure out several idea's that Michael Burke had been kind enough to point out to me regarding discounted closed end funds., when whoa.. MWY shows p on my screen as oooo or not opening. Punished pretty severely for missing its number. I wasn't smart enough to bail when they had the pre announcement regarding the new game release. I still liked the basics of the company and it seems to be reinforced by its peers although it does not seem to share the same favorable stock price. Maybe part of that is partially based on the number of analysts that follow the stock. Everything that I can read about the company seems to indicate that the business plan is there, just a matter of execution. It is the execution of the business plan that I am putting my faith in. If there is anything that a Chicago company understands, its execution of its business plan or else.<g> Moving forward, summer is coming more kids being babysitted by the mall, maybe more quarters in the till? If this new game is everything that it is supposed to be, I presume in the game industry it should have some immediate impact on the bottom line, we'll see. Anyway, bought in for some more at 12 and change. The good news is that I am up for the day. don ryndak