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Strategies & Market Trends : Value Investing

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To: Madharry who wrote (10317)	4/10/2000 9:41:00 AM
From: James Clarke	Read Replies (1) of 78599

After a quick run though the recent press releases from CNC I can't see how one could find a margin of safety in this situation. I can see how it might double from the current level, but I can also see how it goes to zero. At the current leverage, all it might take would be a bump in the securitization markets to nail the coffin shut. No thanks. Who buys Greentree? I don't see a clamor of banks looking to enter the manufactured housing market - in fact, we are seeing just the opposite, with both Associates and Bank of America trying to get out of this business.

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