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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 (3527)	10/5/1998 1:01:00 PM
From: anyer	Read Replies (1) \| Respond to of 18998

What is symbol Pink? Shorted ACF; thanks. Anyer

To: Mr. Pink who wrote (3527)	10/5/1998 1:34:00 PM
From: Sir Auric Goldfinger	Read Replies (1) \| Respond to of 18998

Thnx, it was in our folder, had not gotten to it yet. Today is grand. These are all unwinding in a rather precipitous manner wouldn't you say?

To: Mr. Pink who wrote (3527)	10/5/1998 2:19:00 PM
From: Pancho Villa	Respond to of 18998

NDE: Mr. Pink great call! Mr. Pink I just found out MER went in with both feet on this one! Take a look. From the sec filings: IndyMac has entered into a repurchase facility with Merrill Lynch, Pierce, Fenner & Smith Incorporated and certain of its affiliates, in an aggregate committed principal amount of $2.0 billion. The agreement is committed for a period of at least two years from the date of execution and currently permits IndyMac to finance its mortgage conduit, mortgage portfolio, warehouse lending, IndyMac CLD lending and manufactured housing lending assets and operations. The repurchase facility carries a floating rate of interest based on LIBOR, plus an applicable margin, which varies by the type of asset financed. IndyMac is permitted to borrow additional uncommitted amounts under this repurchase facility, and as of June 30, 1998, the total balance of outstanding loans from Merrill Lynch was $3.7 billion Ouch!

To: Mr. Pink who wrote (3527)	10/5/1998 2:59:00 PM
From: ElmoDog	Respond to of 18998

Mr Pink, Hi. I think you do great work on the short side. We 've done a lot of the same names. While toxic waste is toxic waste, I was a year too early with FP, CMM, etc. -- but they ultimately paid off. Your timing, on the other hand, has been remarkable. But one issue re NDE I would question. I looked at it as a short awhile back and passed based on the following: 1) NDE is not a passive investment REIT. It has significant origination capabilities. 2) The CEO is the anti-Phillips in terms of accounting conservatism, non-hype and building shareholder value. Could you elaborate re why this might be a good short here and what NDE has to do with CMM? Or did you simply do what I did (before I really looked at this company) and just go short anything that looked like RWT, CMO, CMM, etc. Thanks! Thanks.