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

To: Michael Burry who wrote (4737)	8/21/1998 1:27:00 PM
From: peter michaelson	Read Replies (2) \| Respond to of 78603

Mike: 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. Just do yourself one favor and paint the future portfolio using a Dow = 4500 tint. How does your new cash injection look now? Let's see, if multiples go back down to 12x and earnings fall by 20%, that leaves a Dow at ???? Seems likely that a bear market will be around for a long time, so there's no need to hurry. Peter