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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: VALUESPEC who wrote (2023)	7/5/1999 9:48:00 PM
From: Mike Milde	Read Replies (1) \| Respond to of 2414

<< Mike Milde talks like a short. If he believed in this company . . . if he still believes in this company . . . why didn't he go long again? Maybe Mike would like to answer that puzzle for himself? >> When you buy stock in a company you are buying ownership in the company. You pay a price and get something in return. You seem to overlook that. NetBank is a great company, but there is no company that is worth any price. You must evaluate it with respect to what you have to pay to own part of it. Here's what I'm looking at: DR Grimes has always stated that they are a BANK and not an Internet company. I expect that they are changing their mind on that philosophy, but I'm not convinced that they have the right mindset yet to compete as an Internet company. Offering new services is a step in the right direction, but they need a new strategy too. Even when you take their growth into consideration, the current value placed on the company is excessive. Banks simply are not like retail businesses and my feeling is that most investors are not valuing this company as a bank. I sold all my stock between $199 and $244 per share. At that time the hype seemed to be extreme. That turned out to be a good gamble. Eyeballs are valuable and NetBank has the stickiest that there are. I'm watching NetBank closely and won't get back into it until their strategy/price ratio is higher. Just my two cents. Mike