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

To: MCsweet who wrote (30708)	5/15/2008 12:22:52 PM
From: MCsweet	Read Replies (1) \| Respond to of 78671

HTWC, Reversing myself on HTWC. I sold 1/2 today at a loss and may sell more. This is because what I see as a major change in fundamentals, or at least my understanding of them. I could be over-reacting --- I suppose I should have assumed the bank and some exposures like these. Anyway, the company decreases loan reseves but then mentions 5.5 million in "special mention" assets that could have trouble down the road, including the fact that they have some loans past due and have "overloaned" to a single customer. The stock is a great value if things stays as they are, but if these development worsen then it could get uglier. And, I am starting to dislike/distrust management already. If the economy turns around this should do well (and the Fed cuts should help over a lagged period), but it seemed prudent to me to pare things back. MC