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Strategies & Market Trends : Ocwen Asset Inv. Co (OAC)

OAC 15.43

-5.8%

Jan 21 4:00 PM EST

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To: George T. March who wrote (11)	2/6/1998 9:13:00 PM
From: Labrador	of 64

thank you for you post. i thought that the release said that the write-down of the I/Os was approx. 20 cents for the quarter, not that they would have a loss of 20 cents for the quarter. actually, i disposed of my shares at 21-1/8 approx a week ago and put the money in first data (FDC). But I did buy more shares today at $17.75. (I was out of the office most of today -so missed most of the free fall until about an hour before the market closed.) i was surprised by the announcement. But, i read their release as saying that the loss was in the neighborhood of 20 - 25 cents, so i thought that this was not much of a hit. i was surprised that the market beat the stock down as much as it did. this is why i jumped in today. i thought that this was competent management and am surprised that they could have fallen so susceptible to accelerated prepayments. I have not heard the conference call. i will listen to it. this purchase could have obviously been a real mistake, since as a "small fry" investor i was not privy to the call.

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