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To: Think4Yourself who wrote (58787)	1/20/2000 1:08:00 PM
From: SliderOnTheBlack	Read Replies (1) \| Respond to of 95453

o/t "Q" re: the financial industry has changed, different paradigm (VBG) ! Your point is well taken - Banks with heavy credit card growth/origination are death waiting to happen - WM is not in that catagory. Banks with heavy Intnl exposure - are risky - WM not there... Finance companies with high risk personal, subprime mtg, or auto loans - are death; WM aint there either... There exists near nirvanna for stockpickers in the financials presently - "Q" stay clear of high risk Intnl, sub prime & credit card companies & its clear sailing... Adjustable rate mortages get refinanced - quickly, resuslting in prepayment penalty income for the original lender - which has come into vogue in an effort to thwart the costs of rapid Mortage Portfolio prepayments/turnover. WM will re-write many of the ARM's and generate new income in doing so. The conversion to fixed rate's here is a plus actually. Those companies who can generate good "customer retention" in these "refi's" will do very, very well actually. *** NAT GAS up .15 cents today !!!! load thy NG boat boys ! ... don't dally