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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (14248)	4/4/2002 2:11:54 PM
From: Bob Rudd	Respond to of 78704

Housing: I wish I'd recognized earlier that the story here is nationals taking share from locals because access to reasonable priced capital allows them to offer more favorable financing...a key competitive advantage. Since home building is still largely a local biz, this Walmart-like market share gain probably has a ways to go.

To: Paul Senior who wrote (14248)	4/17/2002 5:06:13 AM
From: Bob Rudd	Read Replies (2) \| Respond to of 78704

WM A reuters peice on the earnings release highlighted this disturbing point: "The thrift said NONPERFORMING ASSETS, OR LOANS WITH POTENTIAL REPAYMENT PROBLEMS, JUMPED $399 MILLION TO $2.78 BILLION." $399 MILLION is a lot of $$$ if it's sitting in a pile on your desk and $2.78 BILLION is nearly incomprehensible, but to put this revelation in perspective: As % of Total assets, Non-performing actually DECLINED from 1.082% of $219.9B to 1% of $275.2B total Assets. I don't know how the market will read this, but I pass it along as non-perf's have been a lightening rod recently.