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Strategies & Market Trends : Resource America (REXI)

REXI 9.780

0.0%

Sep 9 5:00 PM EST

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To: Andy Yamaguchi who wrote (19)	8/25/1998 8:22:00 PM
From: Tom Murphy	Read Replies (1) of 220

Andy...I am not an accountant but I looked at the last earnings report and within minutes knew what the sell off was about. Even the analyst that are sticking with them acknowledge their "accounting methods are confusing" and "insider transactions are disconcerting" (selling loans and notes to a REIT controlled by relatives). When I started looking at REXI I fully intended going long and catching some quick profits on the rebound...Instead I went short...made a nice profit...and I'm out....And I hope all the longs make out OK....Good Luck.

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