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Non-Tech : Green Tree Financial (GNT) -- Ignore unavailable to you. Want to Upgrade?

To: Shane M who wrote (128)	3/13/1998 2:16:00 PM
From: Adam Nash	Read Replies (1) \| Respond to of 169

I bought GNT after the plummet from ~50 to 30, only to watch it fall to 19. Unfortunately, this is the stock where I had to learn my "never catch a falling knife" lesson. However, I decided to hold at that point, and look to the analyst projections and the extent of the accounting issue. To me, it seems that the new accounting has certainly lowered the earnings curve, but not dampened its slope significantly. Buying $2.50 of 1998 earnings at 20 seemed like a very good deal in today's market. If GNT's earnings unfold over the next 2-3 quarters according to estimates, I will continue to hold the stock.

To: Shane M who wrote (128)	3/14/1998 6:45:00 AM
From: Robert T. Quasius	Read Replies (1) \| Respond to of 169

I also hold SFC and FP out of a contrarian perspective. I also hold CTYSC, part of which I unfortunately bought on the way down. 2/3 of my CTYSC holdings, though, I bought at 17/32. Although certainly more speculative, IMHO CTYSC might be worth another look now. They have a new CEO, who was a top executive from GE Capital. The new management team is working quickly to sell the UK operation and clean house. The stock is selling for around $19/32, which just about matches it's earnings estimate of $0.50 for 1998, for a current year P/E of 1. I think that there is strong support at just over 1/2. I'm expecting the next earnings report to include some more write-downs, and then clear sailing from there.