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Non-Tech : WAMU (WM) -- Ignore unavailable to you. Want to Upgrade?

To: Canuck Dave who wrote (72)	1/24/2000 5:53:00 AM
From: Labrador	Read Replies (1) \| Respond to of 116

While I think that it is a good thrift (earnings power, management), it still trades above book value, while many thrifts have approached book. I think that as rates move north, WM still can fall closer towards book value. Thrifts that invest in fixed income are not the place to be with interest rates moving up -- compression of spread, prepayments slowing and, of course, less value on a mark-to-market basis. I am waiting til I see around book. It may never get there -- but I'm not jumping in yet.