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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Patzack who wrote (11376)	9/1/1999 1:26:00 AM
From: Mad2	Respond to of 18998

Patzack, Right now some questions about loan reserves which depressed the stock. Company's earning went by by when they eliminated gain on sale reporting, thus they are building a base of income producing lease/loans. Right now they're oversold big time....even if the reserves are a bit skinny as they're selling for 1.3 times book. Earnings on the upswing and undervalued....easy bounce play. It'll take a few quarters to sort out where they're going long term, however with the cash from they're recent secondary (at 18-20 bucks)and the bank angle its a bit of a no brainer unless management is a bunch of dummies. Perhaps the real risk is the online banking business could get crowded in the next couple of years (a life time on WS). Mad2