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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (5110)10/8/1998 6:23:00 PM
From: Michael Burry  Read Replies (1) of 62524
Today I loaded up. Mostly, I just added to Midway, Deswell, Asyst, and Tidewater at ridiculous prices. And I started my first new position in a while buying LHO at 8 5/8 and then again at 8 1/2. Thanks to the thread for the discussion. Looked good in the teens. Looks a lot better now. I've been an absentee value investor of late because I like everything I got and didn't think it necessary to go looking for even more stocks with PE's of less than 10 and outrageous dividend yields.

FWIW, I'm now postponing purchases of real goods to invest in the stock market. I find it ironic and sad that some here are just now starting to throw in the towel, with a lot of US stocks down 60-80%.

Paul - you've criticized my holding periods in the past. Well, looks like I'm gonna become a long-term holder of quite a few stocks here (not what I planned or wanted ;-)).

I did recently rotate out of my Case at 21 1/2 and into NH again at 9 3/4. Other than that, I'm just taking a peek every week or so. There's a serenity in the turmoil from that distance. The last few months have been the least research-intensive months in my investing career - it takes less than five minutes to find a bargain, and just another five minutes to see it get cheaper.

Good investing,
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