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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 (3802)	10/8/1998 2:05:00 PM
From: Graeme Smith	Respond to of 18998

Mr. Pink (or any others) I just a lurker on these threads, but would like to ask you a question. You have, I'm sure, a much longer knowledge of the market than many. And you appear to have been very astute at picking stocks and the market. From your experience, where would you say we are now. I would say that we are at the point where a lot of mom&pop investors have realised that the market doesn't always immediately rebound and hit a new high. As such there is a lot of panic selling. Do you think this is a contrarian sign that the bottom is almost reached, or is this just the start of the panic selling. I'd like to hear your opinion. If you venture a guess and get it wrong, I'll assume your not God, but at least I'll still think your pretty close. Thanks, Graeme

To: Mr. Pink who wrote (3802)	10/26/1998 10:04:00 PM
From: Rex Dwyer	Respond to of 18998

From LBFC news release today: Receivables and Loans for sale are rising, more than doubling from Dec, 1997. Looks like they can't seem to get payment for those pesky subprime loans they create. Rex Assets Sept 30, 1998 Dec 31, 1997 Cash and cash equivalents $ 34,448 $ 38,782 Investment securities available for sale 32 3,793 Loans held for sale 52,888 17,241 Receivable from the sales of loans 320,517 143,088 Premises and equipment, net 4,361 3,620 Deferred income taxes 32,600 34,400 Capitalized mortgage servicing rights 5,048 3,054 Prepaid expenses and other assets 4,519 4,110 --------- --------- Total assets $ 454,413 $ 248,088