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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank
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To: Dr. Jeff who wrote (1974)6/20/1999 6:42:00 PM
From: Kevin A. Lynch   of 2414
 
I bet you would do a great job at picking out the winner of the KY derby the Sunday after the race. Upon closer inspection, I am sure you will find that account growth is exceeding 110% year over year. I am not in at a significantly different level than the stock is currently trading. Even if the stock is overvalued, that mountain of short sellers could cause a 10-15 dollar rally whenever they quit forcing the air out of this one. Plus, all this talk about B&M banks is silly. The obvious conclusions to make are as follows. B&M's must compete or cannobalize their current account holders or risk the chance of losing them to NTBK types. B&M's do offer additional channels to bank through (local branches and free ATM use). NTBK's infrastructure is much much less on a per account basis. The ones I would be weary of are mid to small size banks that are marginally profitable (they could get thumped).

Regards,

Kman
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