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

To: peter michaelson who wrote (4738)	8/21/1998 2:49:00 PM
From: Michael Burry	Read Replies (2) \| Respond to of 78609

if multiples go back down to 12x Mine are already down to 7ish <g>. Well, the cash is now there. I've got some deciding to do. Mike

To: peter michaelson who wrote (4738)	8/21/1998 3:40:00 PM
From: jeffbas	Respond to of 78609

While I generally agree with your view, I believe there are stocks which have only moderate risk even in that scenario. I think NH at $11 paying 5% is one. The only reason I did not buy it today is that I think there may appear better opportunities elsewhere down the road. But if I were an income investor, which I am not, I would have no problem at all expecting NH to outperform cash or bonds over a reasonable period of time. By the way, I am not as pessimistic as you. However, the typical NASDAQ stock is already down a lot more than the blue chips and in a bear market for far longer. The lack of any stability there tells me we are nowhere near the bottom, as I would expect them to get washed out first and start showing some resilience.