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

To: Paul Senior who wrote (19310)	6/24/2004 4:14:48 AM
From: Carl Worth	Read Replies (1) \| Respond to of 78684

I own HMNF, in which Gendell has a 9.5% stake (I bought it after reading a Bearon's (sic) article, probably the same one to which you are referring). It trades at 12x earnings so it isn't super cheap, but at 1.5x book and with a 3%+ dividend on the price I paid, I'm willing to wait for it to be bought out. The only other bank that I know of offhand that he has a stake in is ASBI, which trades at about 1.2x book and pays a nice dividend, but which is pretty highly valued at a P/E of over 20 with not much growth at the current time. As such, I haven't bought any of that one. Are you aware of any other banks in which he has a large stake offhand?