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

To: Paul Senior who wrote (17106)	5/22/2003 1:26:22 PM
From: Jurgis Bekepuris	Respond to of 78671

Paul, Nothing to be sorry about. :-) We make our choices, and when new info arrives, we make them again. Jurgis - currently "hold" choice on NTZ

To: Paul Senior who wrote (17106)	5/22/2003 10:00:20 PM
From: Spekulatius	Respond to of 78671

NTZ. Yes, sorry to see that. Well you can't say you have not been warned. The US$ has been deteriorating further during the quarter and usually it takes about 3-6 month until a margin compression is trickels through the supply and sales chain - based on that one can only expect the next 2 quarters for NTZ to be much worse. I established a position in LDL today - looking through the latest 10Q I am pretty sure that this company will profit from the lower US$ and I hope that this may help to get this stock up again. I am still watching the regional banks and besides BNK I actually like NFB more. NFB has a good capitalization ratio, a stellar efficiency (around 32%) and apparently and high asset quality (0.2% loan losses). This seems to be one of the best high quality growth plays in this sector. In the short term however, the lower interest rates will squeeze the interest spread between the deposits and the loans and this will put pressure on the earnings. I think the last rally in regional bank stocks will falter for this reason and hope to get in at lower prices soon.