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

To: Das Boot who wrote (15986)	10/26/2001 7:04:03 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 18998

Yes. PVN under $4. ACF $18. ACF - 'fess up, we have not seen the big volume yet. Do I hear $10 ?? Nothing will be spared.

To: Das Boot who wrote (15986)	10/27/2001 12:53:12 PM
From: RockyBalboa	Read Replies (1) \| Respond to of 18998

Interesting read: milberg.com

To: Das Boot who wrote (15986)	11/15/2001 9:08:07 PM
From: RockyBalboa	Read Replies (2) \| Respond to of 18998

From Briefing... Visa and MasterCard issuer Providian Financial (NYSE: PVN - news) fell 19% to $2.98 after announcing a cash shortage brought on by last week's credit-rating downgrade. Several banks withdrew their investments in Providian's securitized loans after the downgrade. Management also announced it will sell a third of its loan portfolio and trim costs. The sale will rid Providian of its least-profitable, lowest-quality loans, said Morningstar stock analyst Craig Woker. The loans, worth about $3 billion, will likely be sold at a steep discount to a bank or another credit-card issuer with a strong level of cash reserves to shoulder the portfolio's risk, Woker said. Providian has struggled with bad-debt costs stemming from customers who can't pay their bills. Nearly 12% of Providian loans went unpaid by credit-card customers in the fourth quarter, resulting in a huge charge, Woker said in an Analyst Report. The upcoming sale is therefore a crucial restructuring move that improves the company's outlook, he said. Only the most risk-tolerant investors should be interested in the shares, he said.