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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments
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To: Mr. Pink who wrote (3223)9/26/1998 7:56:00 PM
From: john harris  Read Replies (1) of 18998
 
Mr.:
I believe that this is a wise position on the thrifts.
Expect Wall Street analysts to bring down '99 numbers in mid-October as the Q3 numbers come in. The analysts are all at lofty levels of earnings expectations due to the interest rate spreads that were enjoyed by banks last year and the early part of this year.
It's all history now and these thrifts will be hard pressed to bring home the bacon by the trucks-full as most had expected. Multiple contraction is coming.

PS: Congrats on the publicity last week.
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