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

To: Paul Senior who wrote (21992)	9/6/2005 2:54:30 PM
From: Bob Rudd	Read Replies (3) \| Respond to of 78730

Paul: Speaking of Katrina and mortgages, I've been considering shorting banks serving the area + FNM quote.yahoo.com News reports say >50% of New Orleans houses lack flood insurance. Since that's the primary source of damage, I can't figure how these banks will remain solvent. But the stocks have taken nowhere near the licking that that scenario would imply, so I think my thesis is flawed...either the flood insurance stat is wrong or a low % of New Orleans homes have mortgages or theres some catastrophic reinsurer in the picture. Comments appreciated.