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

To: Bob Rudd who wrote (4648)	8/12/1998 7:06:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78648

I see the investment climate deteriorating, but I agree with you more than Jim on this point. With most stocks I follow down 40-60% depending on the sector, and the average NYSE and Nasdaq stock down 25-30%, a significant correction has already occurred. It would take a crash of historic proportions, which may happen, but I'm ready to move another 50% cash into the market to take advantage of the current valuations on my favorite stocks. Another stock that goes on my buy list when I get the cash in there is Telebras. Now at 94 for the system on a 23% 9 day crash in Brazil. Glad I got out above 120. But that was luck. Now there's opportunity again. Here's hoping for 85. Of course, Deswell, JOE, FLA, MPP, USU and a few others are ahead of it in line. Mike