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

To: Michael Burry who wrote (4167)	5/26/1998 11:02:00 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78560

Mike: re contrarian. Well if experts say Asia is where it will be in 1-3 years, yet we see such very, very strong selling pressure now, I would have to admit that you guys are contrarian to the selling people - who are the majority it seems. What an ugly, vicious cycle you describe. If funds have to sell to meet redemption requests, they forgo opportunities to pick up good values. Even drive these good values to lower prices as they sell to meet more redemptions requests - which seems to be occurring as people see prices go lower and lower. I think I read somewhere that the tactic of (some) fund managers is to sell their most liquid stocks first --and that could be some of the big foreign caps mentioned here I'd say. Paul