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Non-Tech : Bill Wexler's Dog Pound -- Ignore unavailable to you. Want to Upgrade?

To: Bill Wexler who wrote (5545)	12/17/1999 12:40:00 AM
From: TRIIBoy	Read Replies (1) \| Respond to of 10293

I disagree with you about the banks on a number of points. 1)The net interest margin squeeze is not going to go away. Interest rates are rising and will probably be above 6.5% in the next few months and at the same time banks are having trouble raising deposits and funds. This squeeze will continue. 2)There are starting to be more articles about SEC and tighter accounting standards surrounding sub prime loans. check out this story: thestreet.com 3)Off balance sheet concerns will start popping up next year. 4)No new management in any of the problem bank stocks. Until management changes do you really think these bozos will start changing their stripes? 5)Next year could be the first year in a string of years when most banks earnings growth goes negative or flat. (outside of money center banks) 6)Many forget the multiples banks used to sell at during the last awful interest rate environment. They were single digit multiples. Now if interest rates reverse themselves, then things change. But I don't see that happening. I think interest rates have to reverse themselves and you start seeing bank mergers for banks to rebound.

To: Bill Wexler who wrote (5545)	12/17/1999 5:35:00 AM
From: JDN	Respond to of 10293

Dear Bill: I would agree with you on Banks but ONLY the large Money Center banks. Personally, at this point I own none as I think there is still time to get into that sector, but if I were buying I think Chase would be at the top of my list right now. Another thing I want to ask you and the thread. I have heard (dont know if its true) that after today the funds have instituted a voluntary moratorium on trading for the balance of the year. Purpose is to not aggravate a potential Y2K problem. Have you heard this? Seems to me with the funds out of the market things are going to be poor balance of year and possibly lot of volatility? JDN