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

To: Mr. Pink who wrote (11932)	11/7/1999 6:08:00 PM
From: torquatus	Read Replies (1) \| Respond to of 18998

Pink, Ugly: Selling below book ($8 vs. $10.50), high growth and careful reserves, low leverage on the balance sheet, selling at ~$8 on $1.25 2000 earnings--cash earnings, not gain on sale, which means it understates cash flow, and earnings estimates are continually being raised. Good management that picked fmac, racc clean. Garcia association with Keating incidental (if you're worried about the crim connection). Association with sub-prime lending a negative, but ugly isn't in the securitization business like mercury, reliance, etc. Consider it sweet revenge for racc debacle (sorry about that one, Pink). Torq