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

To: TradeOfTheDay who wrote (4091)	10/13/1998 5:19:00 PM
From: TRIIBoy	Read Replies (2) \| Respond to of 18998

Going through the earnings release, did anyone notice the incredible surge in accrued expenses and liabilities. Accrued liabilities increased 117% annually and 37% sequentially. Also, what about the surge in provision for credit losses?? That increased 290% annually and 44% sequentially. In fact the provisions are so high Providian does not even make money on a net interest margin basis. Those are some powerful negatives, which tells me at least that Providian's real fundamentals are drastically deteriorating. Watch out below...