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

To: Andrew Spurlin who wrote (1229)	3/17/1998 10:13:00 PM
From: Mr. Pink	Read Replies (4) \| Respond to of 18998

TO ALL: PINK PICK ALERT PINK PICK ALER PINK PICK ALERT Today Mr. Pink purchased over 400,000 shares of Independence Savings Bank. The company went public today via mutual conversion and trades around $17.25. Book value is only $13.50. Thus the purchase price is extrememly low relative to New York area thrifts such as Queens County and Astoria. The thrift does have excess capital so you are betting on management's ability to deleverage via share repurchases, sp dividend, acquisitions and increasing balance sheet. Cheap Cheap Cheap Cheap Cheap Cheap Cheap Mr. Pink