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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (791)	1/12/1998 10:27:00 PM
From: Dan Packer	Read Replies (1) \| Respond to of 18998

<<FF, What's that. >> FF = First Financial Fund <<If you sell at book you won't find many opportunities to buy now adays.>> That's my problem. Having attended a slew of annual meetings of these converted thrifts in the past couple years, I have the greatest disrespect for their management and boards. ATM's and electronic funds transfers will doom all of their branches. So what are you buying? I simply don't understand the mergers going at 2-5X book. With the classic buy v. build problem, you build at those prices. The bubble will continue to inflate; until it doesn't. Hence I have found myself with an unhealthy stash of cash. - I did nibble 5 or 6 K shares of DOSE - thank you very much. But I would love to get in on some IPO thrift converts: 50 cent dollars. BTW, if you're in San Francisco, the last one left is First Financial of San Rafael. There's a branch in the Marina, one across 101 from Candlestick, and one in Berkeley. The CEO is in his 80's.

To: Mr. Pink who wrote (791)	1/13/1998 9:37:00 AM
From: Dan Packer	Read Replies (1) \| Respond to of 18998

>>>(ps. mr. pink made that road trip in 1991 throughout the country.)<<< I got to thinking about this statement. Either it's utter BS - a rewrite of history, or mr. punk is totally BOGUS. In 1991, the S+L business was on its back. There were dozens of publicly traded S+L's going for a song. All you needed was a dart gun and a blindfold to down a ten-bagger. If you were smart enough to figure out the S+L game then, there was no need to waste gasoline and tires. And none of the converts are tenners.