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Non-Tech : Amresco [AMMB]
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To: Joe Copia who wrote (121)6/16/1999 10:31:00 AM
From: prudentinvestor  Read Replies (1) of 218
 
I saw this stock mentioned over on the RTIN thread. Then I read the analyst's report. I'm in (for better or for worse) at 4 31/32.

However, the drop in the prices of the bonds does trouble me a bit. I was once a bondholder in a financial institution similar to this one. That institution went bankrupt; my bonds became valueless. A regional bank bought out the bankrupt institution for next to nothing. It was one of those RTC deals in the early 1990s.

Clearly, there are risks in this one; that is why I took a relatively small position in AMMB (far, far less of a position than I have in RTIN!). The valuation is compelling; however, this is not the only financial institution selling at these low valuations. Also, many homebuilder stocks are selling relatively cheaply relative to book value and sales.

Certainly, the analyst's report, posted earlier on this thread, is what finally got me to commit some funds to this issue.
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