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

To: James Clarke who wrote (5853)	1/24/1999 11:44:00 PM
From: Michael Burry	Read Replies (3) \| Respond to of 78476

Jim, I've bought into Callaway recently at 10 5/8 - it's in the VSN Fund at my web site. To me, this is a 10 minute analysis, a la Timberland or Midway. Massive insider buying, premier name. Decent technical support. No debt. And with spring coming, well, why not buy it at such a low market cap? Every golfer I know (remember, I'm a doctor, so there's a few) seems apoplectic when I tell them what's happened to Callaway stock. The faith in the brand has already been established among golfers, even though Wall Street has lost all faith. Sometimes value investing is as easy as being contrarian, which comes naturally to some of us ;-) There's just something to a story that makes sense in 10 minutes. Mike PS, I had stated here that I was going to hold my Amazon.com short until the lawsuits came in. Well, I covered at 104, soon after my Midway position crashed and depleted that account of some equity.