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

To: Wallace Rivers who wrote (4736)	8/21/1998 12:29:00 PM
From: Michael Burry	Read Replies (1) \| Respond to of 78602

My understanding is that the Venezuelan devaluation is a rumor only. Although I wouldn't be surprised if it's true. That country probably needs it. In any case, it shouldn't matter for Argentina, maybe a little for Brazil. This seems like a good opportunity to rotate for tax loss purposes. YPF is moving with Latin America and oil. So now I can realize that loss and move the money into Telebras or another stock that will move up with Latin America and oil. Commission's cheap, and it repositions me from a tax perspective without much risk. This can only come about due to the large amount of parallel values worldwide out there right now, and seems a rare opportunity. JOE and FLA might be a good example with a loss in JOE or vice versa. I'm making preparations to wire a 50% cash injection into my account today. I see an awful lot of opportunity, even though it pains me some to see my supposed margin of safety fail me. Good investing, Mike