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Strategies & Market Trends : Value Investing

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To: Spekulatius who wrote (35770)	11/8/2009 2:09:41 AM
From: Spekulatius	Read Replies (1) of 78476

SSBI, not sure i anybody is interested but i was correct that SSBI's dramatic loan loss increase is due to Carinalli bankruptcy: pressdemocrat.com pressdemocrat.com See exhibit A A land loan for 1M$ and another one for 3.7M$. they also gave Carinalli an unsecured loan for 2M$. Nice chunk of money they left on the table. I think the unsecured debt is mostly a writeoff and don't think that the recovery on the land loans will be that great either. FWIW, i bought back a few shares a of SSBI in the 4.6$ range.

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