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

To: James Clarke who wrote (6354)	3/18/1999 10:43:00 PM
From: Shane M	Respond to of 78485

Mike and Jim, Champion's recent Annual report mentioned that they're seeing increased inventories in the marketplace in some states. Champion's inventory is up from about 2 weeks to 1 month now following some acquisitions, but at the same time they say backlog is considerably greater than prior year. I'd like to see that pulled down a bit, but at the same time recent housing numbers are bullish. I haven't looked closely at the others in the industry, but if they all have inventory buildups it could indicate margin pressure in the near future for everyone. Does the stock price already reflect this concern? I hope so. Shane

To: James Clarke who wrote (6354)	3/19/1999 12:11:00 AM
From: Michael Burry	Respond to of 78485

OT: Q re my web site (hate to do this here, but I'm on a sleuthing mission) At various points the last few days I've had absolutely huge numbers of visitors to my site, way out of line with historical patterns. Today was another record. I am asking (in this open format, where I know quite a few people that visit my site frequent) if anyone here knows the reason for this, perhaps a browser/non-poster? If you know why, let me know not here but via e-mail if you would. Thanks. Mike burrymj@yahoo.com mike@valuestocks.net

To: James Clarke who wrote (6354)	3/19/1999 6:11:00 AM
From: valueminded	Respond to of 78485

James: A little while back I had mentioned Dbrsy as a possible play. I know you came out in favor of angly (same chairman) which also looks like a good play. As far as underperforming, conventional (not necessarily correct) wisdom is to buy what is going up. Once targets are reached, announce new targets but no supporting fundamentals. The only support this market has is the liquidity that AG seems to want to give it. He is very concerned about any decline in the stock market and will do all in his power to prevent it (imo) Hence the easy money policies. This easy money is finding its way into financial assets as no one sees the need to add capacity in an already over production capacity world. The most common form is companies using debt offerings to fund their stock buyback programs. Will this end badly - yes - but do not expect AG to do anything about it as he is the primary culprit in my opinion. A company which cant afford to do a stock buy back based on internal cash flow doesnt deserve to be buying it back. (imo)