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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (31590)	7/24/2008 4:22:36 AM
From: Madharry	Read Replies (2) of 78741

its certainly possible that a foreign bank would try to acquire it. Its tough to duplicate the franchise that its built. If Im a european bank with no usa presence it would be something I would be looking at closely. I think it would be a shame though that this kind of short selling might cause such a thing. I never realized before how loaded the deck was that short sellers didnt have to borrow the stock in order to sell it short , they just had to locate it. Somebody wrote somewhere that the protected stocks were up 40% since the notice came out, I dont know if that is quite true but LEH which I also bought is up at least that. Got to be more than just coincidence. one of the anlayst updates that i read is more skeptical than wamu about the actual loan losses it will need to reserve against , anticipating that they will need $2.5 Billion more than the company is pojecting but even they dont think that the company will need more capital and will end up with a tangible net worth of $6.50 before returning to profitability. They have a price target of $7 on it and rate it neutral, but also express uncertainty in their report.

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