By Sam E. Antar: Various mutual funds managed by Canadian investor Francis Chou have lost about $34.328 million to date on their collective investments in Overstock.com (NASDAQ: OSTK) based on an examination of publicly available documents. Those mutual funds currently own 3,260,738 shares of Overstock.com common stock at a total approximate cost of $56,989,945, an average cost of $17.48 per share. On Monday, Overstock.com shares closed at $6.95 per share, placing the total market value of shares held by Chou’s mutual funds at $22,662,129. That's a decline of about 60% from their original cost. (Link to my calculations).
Back in 2004, Chou said, "If you stick to the principle of value investing, things will work out well for you. If you breach that principle, it will hurt you badly." In the past, Overstock.com has been caught fabricating profits and its CEO Patrick Byrne has attacked me for pointing out those violations of
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