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Strategies & Market Trends : Buffettology

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To: Freedom Fighter who wrote (1729)8/13/1999 3:42:00 PM
From: Michael Burry  Read Replies (1) of 4661
Me too. Got mine today at 15 3/4. If anyone doubts Keebler or Mrs. Smith's will be around in 20 years...

Backing out non-cash and interest expense, I see them earning over 20% on capital in a down year. The story makes sense to me: capital and information age improvements expensive now, but improved distribution and profitability later. Feels like no one's looking as I steal this.

The debt probably would rule it out for Buffett, but they could pay it down rapidly if they wish. As far as I'm concerned, they don't have to.

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