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

To: Jurgis Bekepuris who wrote (224)	8/2/1998 4:03:00 PM
From: Michael Burry	Respond to of 4691

I'm obviously into UST big in all my accounts. I think the market is overreacting to the legislative/litigation risk, as Graham has observed often happens. It is telling that if you plug UST into Yahoo news, you get all kinds of stories related to tobacco but completely unrelated to UST, which has much less exposure but the most obvious name (US Tobacco). Whereas the cigarette companies are at risk for hiding known cancer risks for decades, there is not even the suggestion that cigar or chewing tobacco companies have done this. The reason? Only recently has it been shown that chew and cigars cause cancer. Mike