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

To: Paul Senior who wrote (4174)	5/27/1998 10:10:00 AM
From: Michael Burry	Read Replies (1) \| Respond to of 78567

I believe I'm getting a flavor of how my strategy might work in the USA right now. Buying value stocks that keep falling. St. Joe has started on a serious downward trend. I should have realized that no one has the patience for it to work out when all they want to do is sell stocks. Kudos to James for not touching it, he'll probably be back in at 20 again. Re: CEFs I overwhelmingly favor individual stocks because I don't trust a)rights offerings and b)capital gains distributions. Moreover, it seems that discounts on CEFs that historically trade at premiums only means that the NAV is falling or will fall soon. I only own a couple CEFs in one account, and I'd use the Korea Fund to play Korea because any one company there may very well go bankrupt. Mike