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Non-Tech : Cityscape Financial (CTYS)
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To: Shane Stump who wrote (1398)10/25/1997 8:26:00 AM
From: Rational  Read Replies (2) of 2544
 
In the first week of Oct (when the price was $10), I had asked the CFO about the worst case scenario that financial analysts generally consider. Although, he could not give me any indication on earnings, he enjoyed participating in an academic discussion on the worst case scenario. I got an impression from his responses that the worst was no UK income, may be a loss from UK. He meant this quarter because at some point I got the impression that he felt the long-term was good.

The next (second and the last) time I talked to him, he appeared more tight-lipped and a little bit afraid and/or nervous. This was the day the price had dropped to 9.75 in the wake of the 2x250,000 block sells by inside directors (for which I saw Federal Filings). The following day I sold as soon as the minimum price hit 8.5. I sold every bit at 9 1/8 except 1000 shares that I carried till the next day and sold at 8 7/8.

I do not sense Chapter 11, but who knows what skeleton is in CTYS closets.

Sankar

PS: Shane: Do you own any shares now?
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