Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: MoneyMan who wrote (1240)	3/20/1998 7:41:00 PM
From: Mr. Pink	Read Replies (3) of 18998

Sorry about the delay in returning the call. Important measures of course are earnings and book value, as always in a financial service company. ICBC trades at around 1.4 X book value of just under 13. It won't earn much due to excess capital for a while. You should also look at the deposit premium. This is measured by comparing the excess over book to the amount of the deposits. This lesson will come next week. Suffice it to say that ICBC's deposit premium is around 12% versus 16% for both Richmond County and Staten Island. good luck, Mr. Pink

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