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Non-Tech : Bill Wexler's Trading Cabana -- Ignore unavailable to you. Want to Upgrade?

To: RockyBalboa who wrote (1901)7/1/2007 7:16:55 PM
From: RockyBalboa  Read Replies (1) | Respond to of 6370
 
UK - Alliance & Leicester weakened recently after smaller competitor Northern Rock dropped.
For a subprime lender it has a lofty valuation of $10B. It continues to trade ahead of analysts beliefs which are around 900p.



To: RockyBalboa who wrote (1901)9/9/2007 7:04:23 PM
From: RockyBalboa  Respond to of 6370
 
Alliance & Leicester (LSE:AL, currently 956p), as well as Northern Rock are extremely vulnerable, as the US housing downturn begins to infect London. There is 10% subprime in last years production as opposed to 22% in the US, but "stated income" is also prevalent.

Alliance is down quite a lot since end of April but the fun just begins.


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