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

To: Michael Burry who wrote (1694)7/20/1999 3:40:00 AM
From: James Clarke  Read Replies (1) | Respond to of 4661
I remember my father telling me when I was little that the only thing lawyers are good for is suing doctors and other lawyers. If you can't beat 'em, join 'em, right Mike?

I'd like to hear a little more about what you see in the valuation. I've said a number of times that in this environment I would love to own a publicly owned law firm. The best proxy I could find would be to short tobacco stocks or buy paper stocks. Do they serve individuals or corporations? And how much risk do they take that their customer's legal expenses will be higher than expected? Isn't that kind of like a capitated HMO patient in a runaway cost environment?