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

To: James Clarke who wrote (4155)	5/23/1998 5:14:00 PM
From: Scott Mc	Respond to of 78530

James, let me know if this qualifies as a net/net... This is a Canadian security so may not interest anyone... Electrohome Broadcasting (EBI.X+EBI.Y) 8M shares outstanding have 1 asset. 7M shares of Baton Broadcasting(BNB) BNB trades at $25.50Cdn, EBI trades at $15.00Cdn...(Worth $25* 7/8 = 22.30) Now I don't see a catalyst to unlock value, however this is a very recent spinoff(apr1-98). I have a position, thinking of adding to it and perhaps shorting BNB. Scott

To: James Clarke who wrote (4155)	5/26/1998 6:40:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78530

Looks like the next round of Asian pain is beginning, only not like I thought. Didn't think that Asia would sell off 3-4X Wall Street. Thought it would be more the reverse. This is salt in the wounds of astounding proportions. Markets down 80% about to be halved? This will be interesting. To make it even worse, US small caps once again led the big caps lower. Small caps and emerging markets continue to bleed - both of which have been among the only attractive areas for value investors looking to go long for some time. In the meantime, there's an interesting article in the June 1 Forbes about Nicholas Brady's confidence and investments in Latin America, which he feels is being made stronger by the Asian crisis. Still, my YPF and Telebras both got hit for >5% today, on par with Asia. Mike