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

To: Paul Senior who wrote (4166)	5/26/1998 10:19:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78549

Paul, I wonder if it's possible to be contrarian betting against something that's falling 3%/day serially, 20%/month, 60%-85% off its highs etc. In Latin America, for the three days ended last Thursday, about 2% of all institutional money pulled out due to redemptions. In just 3 days. That explains to me at least why my big, liquid Telebras and YPF are getting hammered. I can imagine if US funds had net outflows approaching 2% over three days what the chaos would be. I can't believe that it's going with the flow to be buying into that. I do believe that it can be too early to fight that mass sentiment, which evidently is my mistake in the short-term - see exchange2000.com This comes on the heels of 3% losses in many markets yesterday. Pretty bloody. Mike