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Non-Tech : Wescorp and WFSI -- Ignore unavailable to you. Want to Upgrade?


To: Mark Oliver who wrote (41)10/8/1998 11:11:00 PM
From: Paul Senior  Read Replies (2) | Respond to of 56
 
Ha. My thoughts are unprintable! Grr.

Still owning and holding. Obviously, not only have I been wrong, I maybe don't even now have a worthwhile, helpful opinion -g-.

But here's my take: bank stocks selling below book value are a good buy (But shoot-- WES is the exception it surely seems).
They are taking actions to improve their profitability. Very good. One drawback is that they are very small and of course, a small-cap company and in businesses in some (-g-) disfavor. At this point it's way too late to sell (maybe), and I own a bunch so I'm reluctant to even add to positions. But I am (I think) willing to give WES another 12 months to see where we are. I think, or at least I'm hopeful, they'll work their way out of their problems and recover, and we should see a tripling in the stock price. But I've been wrong many, many times before. Paul Senior.