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

To: Tomato who wrote (849)	12/28/1998 7:55:00 PM
From: Michael Burry	Respond to of 4691

I'd not say LTR is a Buffett-type company; rather, I'd say it's a Berkshire-type company. Its big insurance operation has been underperforming, and Tisch has been striking out in the market, with tobacco being a bright spot if one can call it that. Tisch is not a Buffett-like investor. Tisch is situational, buys cyclicals at lows, makes contrarian bets, etc. I think he should do well if the market crashes and will do better than the market as it recovers. In other words, I think he's due, and he's ready, and that the insurance and tobacco will outperform over the longterm. I like it better than Hathaway at current prices. But I'm betting on the jockey, with a cheap ticket. I'm sure there's still risk in that. Mike