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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: JRI who wrote (6647)	11/19/2001 2:00:45 PM
From: retiredcfo	Read Replies (1) \| Respond to of 99280

(DeJuan's looking pretty good, I've got season tickets and haven't made it to a game yet...) I would agree that non-banks may be in tougher shape (e.g. CNC). But it seems to me that credit card issuers have been taking reasonable loan loss reserves. If unemployment goes,say, over 6.5% then those loss reserves probably aren't adequate. The only good news on derivatives is that reporting has been tightened up by FAS and SEC. Unfortunately it is still harder to read than calculus in Chinese, and Enron just proved that analysts aren't poring over those disclosures sufficiently. While 2002 might indeed be a good year to own a tow truck, remember that if you repo you do at least have a marketable asset to ameliorate your loss.. gm