Anthony @ Equity Investigations, Dear Anthony, Message Board

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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony,

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To: If only I'd held who wrote (62409)	11/8/2000 7:38:36 PM
From: oldirtybastard	Read Replies (2) of 122087

yep, FNCM/FNHC was a real funny one, they loved buying it because the shares were so "cheap" at only a few bucks, guess it's cheaper now. I remember CIBC drooled all over it right near the top in april when they initiated strong buy..way to go guys. To top it off, later in April CIBC's Amar Mehta got himself in a lather about FNHC again when they opened up, now get this, the Internet's 1st mortgage auction site ...pretty amazing stuff. Of course they downgraded to a hold in June blaming rising rates but our boy Amar was no longer the analyst covering...good riddance. oops - When we initiated coverage on Finet, our rating and estimates were based on the belief that despite a rising interest rate environment, the company, through its Internet origination platform, would gain market share. Based on the Finet's FY4Q99 results, it does not appear that the company will gain market share at a cost effective price within the near future. Accordingly, we are downgrading Finet from Strong Buy to Hold.

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