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

To: Michael Burry who wrote (6352)	3/18/1999 8:53:00 PM
From: TwoBear	Respond to of 78485

Well, so much for the MO reaching 35. I wonder how much it will run from here with the announcement of the Ohio lawsuit in their favor. 2

To: Michael Burry who wrote (6352)	3/18/1999 10:17:00 PM
From: James Clarke	Read Replies (4) \| Respond to of 78485

Clayton I have no idea. Small cap, boring stocks are underperforming in a big way. If you ever considered Clayton (or Champion) now is the time. USEC - somebody big decided to sell today. Hopefully they're done. A million shares traded as a block at 13. I don't think there's a problem there either. Likewise another favorite of mine, Ambac is down to 54 or so - a decent point to enter. You've got a market that looks just like last July, which means it might not be a time to buy anything. The "market" is hitting this champagne popping record, which makes me laugh because there are more new lows than new highs. Its only a few stocks. This market is very very dangerous. And yes, that is a market call. And Mike, thanks for Tidewater. Its been running, and announced a buyback at the close today. That's the only stock I have (other than Amazon, which I'm &%*#ing short, that is going up). Its been a rough year for me so far. JJC

To: Michael Burry who wrote (6352)	3/19/1999 11:06:00 AM
From: John Stichnoth	Read Replies (1) \| Respond to of 78485

MB--FWIW, Clayton Homes is in Value Line (which I wouldn't have thought), and is presently rated a 2 for timeliness. The stock has been a dog since late 1995, even though EPS has been marching steadily ahead. Presumably, there is a negative effect from lack of visibility of future earnings/chances of an industry slowdown. In the long run that will certainly happen, but "In the long run we are all dead"--JM Keynes. I looked at them last year and held off mainly because of the industry reputation for sloppy accounting and control. I have no reason however to think one way or another whether CMH is guilty of anything in this regard. And at some point I have to give more credence to their numbers as they continue to post good ones. Continued investment to drive internal growth seems to be built into their business model, which is good. Receivables are up in the last year, and seem high relative to peers--but I wonder if that relates to something they are doing that others aren't. DD is needed. Inventory seems to be in pretty good shape, which is promising. If you find out anything about the receivables, please let us know. This looks interesting. Best, JS