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Non-Tech : TBFC - Telebanc Financial Corp.
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To: Mary Baker who wrote (167)5/20/1999 9:25:00 PM
From: Tom Nealon  Read Replies (1) of 272
 
I think the problem is that the net banks were run up without any of the long term holders that would sustain a run - they are only just becoming news now, whereas the brokers had been talked up for ages before they ran - this provided the longs that a stock needs to survive a downturn without being decimated. TBFC and NTBK were traded - I don't think they ever had a sufficient base of long term holders - so when the momentum came out it was a bloodbath.

Luck all.
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