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

To: Michael Burry who wrote (6919)	4/23/1999 6:21:00 PM
From: James Clarke	Read Replies (1) \| Respond to of 78814

I met with a REIT CEO a few months ago who has been accumlating retail malls for the better part of 40 years. He agreed that the internet is real, but he pointed out that catalogue retail was supposed to destroy malls 15 years ago. And with a VCR in every home, why in God's name are there still movie theaters. Its a competitive threat, but retailers aren't going to go away. Some of their margin might. My JRC pick (newspapers) is another internet roadkill industry. Andy Grove was quoted in the New York Times recently saying that newspapers have three years left. But television should have killed them long ago. They're still there, and their earnings are still growing.