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

To: RockyBalboa who wrote (30262)	3/6/2008 5:27:10 PM
From: Paul Senior	Read Replies (2) \| Respond to of 78742

CIT. Writes off $179M, so earnings for quarter are negligible. Hit to book value is then also about $1/sh. ($179M/190M sh.) Before taxes or maybe after taxes. Still it's only $1 of CIT's stated b.v. of $34. And stock price now about $16. Short term pain. Longer term, company shouldn't be impaired by this. (Although there may be other "thises" out there that are as yet unknown.) I'll hold shares. Figure maybe 12-18 months, there might be a 50% recovery or better.