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Non-Tech : Providian Financial Corporation (NYSE: PVN)
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To: Smart_Money who wrote (98)10/26/2001 2:58:59 PM
From: Larry S.  Read Replies (1) of 167
 
COF and KRB (MBNA) are the other "pure" plays in credit cards, other large issuers are primarily banks with credit card divisions. PVN seems to be the rotten apple in the group, COF and KRB have steadied, and COF reported great earnings and predicted 20% growth. also top officers of COF forgoing salary and bonuses in lieu of stock options on COF. PVN at 4 area seems a decent risk reward play. Don't think the company is going under, they have good reserves, albeit lenders to people with poor credit history. Likelyhood of being sold, perhaps in pieces, at premium perhaps not significantly higher than present price. a decent gamble, imo. larry
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