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Non-Tech : Green Tree Financial (GNT)
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To: Shane M who wrote (128)3/14/1998 6:45:00 AM
From: Robert T. Quasius  Read Replies (1) of 169
 
I also hold SFC and FP out of a contrarian perspective. I also hold CTYSC, part of which I unfortunately bought on the way down. 2/3 of my CTYSC holdings, though, I bought at 17/32.

Although certainly more speculative, IMHO CTYSC might be worth another look now. They have a new CEO, who was a top executive from GE Capital. The new management team is working quickly to sell the UK operation and clean house.

The stock is selling for around $19/32, which just about matches it's earnings estimate of $0.50 for 1998, for a current year P/E of 1. I think that there is strong support at just over 1/2.

I'm expecting the next earnings report to include some more write-downs, and then clear sailing from there.
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