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

To: peter michaelson who wrote (4745)	8/21/1998 4:25:00 PM
From: Michael Burry	Respond to of 78614

I knew what you meant. My comment was in jest. Just trying to keep my sense of humor on a day when once again the markets dived deep and rebounded, pounding my stocks down yet another grand or so. This repetitive deep dipping and rebounding is killing the non-tech and non-nifty 15, which collapse with the Dow down 250 but barely move back up when it rallies to break even. This happens over and over and what do you get. The Dow has hardly been representative of the broader market. Has there every been a time when big stocks crashed and small, mid, and ADR's rallied? I don't know. If not, then I should wait. Should my new criteria be 10% yields and P/FCF of 2-3? Sounds crazy, but many stocks, especially ADR's, aren't much above that. Mike In any case, today INCY hit 20ish, but by the time my money was cleared it was at 23. I was going to add more NH below eleven but what do you know it's up on the day. So yeah, I'll buy your patience theory. Spike bottoms don't generally hold long-term. But the money's there anyway. Thanks, Mike