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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (28094)9/17/2007 10:24:55 AM
From: Spekulatius  Read Replies (4) of 78748
 
IRE - i like it too but not as much as AIB. I actually bought some this morning but later sold and exchanged in more AIB after gleaning around more, the reason being that I think AIB is more solid and much less dependent on Mortgages than IRE (IRE has almost 50% of their loan book in mortgages compared to about 25% for AIB).

I think both Irish IRE and AIB are oversold and very cheap, a country with 10% savings rates should not go bankrupt and while there certainly will be some problems with mortgages i doubt that the "median" Irishman is going to be a deadbeat.

I hope that my evaluation of IRE and AIB mortgage exposure is correct, might well be wrong given my hasty research.
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