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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Beachside Bill who wrote (34584)	11/13/2001 2:09:23 PM
From: Larry S.	Read Replies (2) \| Respond to of 53068

Bill, while I too would like to hear Ron's opinion, I'd like to chime in with my own. PVN came down because they announced that something like 10% of their receivables are doubtful for collection. They have focused on the less-creditworthy sectors to grow their biz, and, as the economy has turned down, more unemployed, etc, this has come back to bite them. Agree that it looks very oversold, but there is a crisis of confidence in PVN, that they will be able to straighten themselves out, continue to be able to attract deposits, borrow money, etc at reasonable rates. The history of sub-prime lenders is deadly - Finova for one. I think there will be a takeover or work-out and the stock will trade back to low teens, but it might take a while. larry