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Non-Tech : Cityscape Financial (CTYS)
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To: Rational who wrote (993)10/16/1997 6:20:00 PM
From: Robert T. Quasius   of 2544
 
This stock and APM are my two sources of agony at the moment. However, setting emotion aside and looking at these several thoughts come to mind:

1. I haven't lost any money until I sell a stock for less than I bought it.

2. The market has a tendency to react to negative news, even if there is little if any bad news.

3. The fundamentals do not appear to have changed much, at least according to Zacks and other sources. Here we have a company with a P/E based upon current earnings of about 2.5, and a consensus growth rate of 22% (Zacks). The PEG ratio is only about 0.1!

4. The best time to buy is when the blood is running in the streets. I bought FPFG at 22 when it seemed that nothing was fundamentally wrong with the company (just a reaction to the Mercury Finance fiasco), and now it is 60 (and perhaps headed to 100+).

5. Other than a write down for the UK portfolio (due to dropping the higher pre-payment penalty), and perhaps a slight drop in UK margins, nothing has fundamentally changed with CTYS, IMHO.

I put in a limit order today at 6. I don't know if I'll succeed in buying at 6 or 6-1/2, but I do feel confident that after all of this blows over the stock could very well see 30-40. I wouldn't mind owning another 5-bagger.

Just my two cents.
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