Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jurgis Bekepuris who wrote (4457)	7/23/1998 2:48:00 PM
From: Wallace Rivers	Respond to of 78702

Said they will make only .25 for the year according to my info. So that's a high PE for essentially negative growth. Use the clubs, love 'em. However, here is the bear case: Adams, Orlimar, and others are not only taking market share, but causing prices, thus margins to plummet. Japan (30% of ELY sales) sales are down significantly. Golf ball introduction may be in jeopardy. This is definitely one "dead cat" trading at approx 1.7 X book and 1 X sales. JMHO about a company whose product I love.

To: Jurgis Bekepuris who wrote (4457)	7/23/1998 2:57:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78702

Re: ELY,ASYT, WWW I take another look at ELY every so often. Those inventories and AR numbers are just atrocious. The PE will expand as earnings crumble, and, like Nike, is another case of 3-4 boom years the may or may not be repeated. Too much risk for me, a la Nike. I took a small position in ASYT today when it hit 13 again. There's a DLJ reiteration of market perform with drastically reduced estimates. A shoe company that I would keep an eye on is Wolverine World Wide (WWW). It's been in a freefall since announcing earnings a few days ago. Wolverine is more of a "behind-the-scenes" brand, and may have more reproducible success than some of its shoe/apparel industry cohorts. I see great business economics in its cobranding strategies. Good investing, Mike