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Non-Tech : WAMU (WM)
WM 196.02-1.9%9:30 AM EST
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To: Mr. Jimmy who wrote (88)3/15/2000 2:33:00 AM
From: tuck  Read Replies (1) of 116
 
MR. Jimmy,

If WM finds its stock really cheap, they'll buy back more than if it was more expensive. So don't worry. The buyback is exactly the proper move for a bank to make in these circumstances, because otherwise the capital is idle (assuming fewer loans are being made because of rising rates). It will pay in terms of earnings surprises down the road. Good management by CFO.

I expect no reaction to the upcoming Fed meeting. A hike is priced in. Unless the data at the end of the week are way worse than expected. I don't see it. Despite Greenspan's assertions to the contrary, productivity is good, and I think it will show.

Cheers, Tuck
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