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Non-Tech : NetBank(NTBK)-formerly Atlanta Internet Bank -- Ignore unavailable to you. Want to Upgrade?

To: Elsewhere who wrote (903)	9/1/1998 12:44:00 PM
From: Mike Milde	Read Replies (1) \| Respond to of 2414

You keep talking about short term market psychology though. That's important only in the short term. Without a doubt, investor's moods will run hot and cold all the time. I can't predict that. All I can do is pick the businesses that I think have the best ideas and the best people managing the company. Evaluating ideas is something I feel confident doing. Evaluating management is a lot more difficult, but so far there isn't anything about NetBank's management that bugs me. OK, you asked for real bargains: :-) SEEC - They have several profitable quarters behind them (although the last quarter was flat). They have assets of $5.60/share, $5.04/share of that is in cash. Current price is less than $4.00/share. Maybe someone knows something I don't about this one. SEEC was over $30/share less than a year ago, with earnings climbing the whole way. CKFR - Recently announced slower than expected growth. This is not due to a loss of market share, but because banks are moving to online banking slower. The reasons given are mergers and Y2K worries. Y2K worries may seem like hype, but I can tell you for a fact that projects at the place I work are being put on hold to deal with Y2K issues first. Any new web project is an excellent candidate to put on the shelf until you first certify your critical systems are Y2K compliant. And many are not. There is real work to do in that area. Given that, I don't think Checkfree's drop from $30 to $8 was at all warranted. (This delay in mainstream banks moving to the web may also help NetBank out over the next couple of years.) Once again, it's a result of investor's greed for short term earnings and no patience in simply investing in good ideas. Mike