NetBank(NTBK)-formerly Atlanta Internet Bank Message Board

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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank

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To: Jimbo Cobb who wrote (899)	9/1/1998 3:06:00 AM
From: Elsewhere	Read Replies (1) of 2414

>Back to 17 in today's bloodbath... a buying op??? I am afraid not. Maybe the US market starts to get rational - what counts now are real earnings and not earnings hoped for some years ahead. Maybe, in one year, Net.B@nk has a run rate EPS of $0.75 and is then awarded a PE of 20. But what about earnings of banks in an inverted yield curve situation? Yes, Net.B@nk will continue to have a lower cost structure and emerge from the slump in a better shape than traditional banks but who knows what the bottom will be. Last year, on October 24, Hong Kong had its Red Thursday. One year later the administration reports officially that HK is in recession - two quarters of successive negative GDP growth. The current losses of the US market could well signal a US recession which very few people expect currently but which might nevertheless happen. If there will be one yesterday's losses are only a prelude, and we might face a 1973/74 bear market. Net.B@nk - excellent company, but I am on the sideline for now. I wish that the bad market conditions do not hamper the growth path because a secondary public offering seems to be difficult currently. Good luck, Jochen

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