Go to Jeff Salisbury LWGate Home Page.From: Randy Barnes <rbarnes@mindspring.com>
Subject: Re: Local Bank IPO
Date: Sun, 06 Dec 1998 07:32:06 -0500
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> Date: Sun, 29 Nov 1998 11:35:07 -0500 > From: "Peter & Karen Diamond" <diamond@vsi.net> > Subject: Local Bank IPO > > Hello everyone, > The bank that holds our mortgage is going public and we have the option of > buying into the IPO before it is listed. > The proxy they sent looks good and many insiders are buying in. > Is there anything in particular to look our for when evaluating this > investment? > Thanks. > Peter Diamond Peter, As a loan officer I was handling a mortgage for a Professor in the B-School at Emory, and he handed me about 25 savings passbooks for assets. He explained that these were all mutuals he held accounts in just waiting for them to convert to stock. Major studies in the grad school show this as a no-brainer. Buy all you can, and if you don't have that much cash available borrow it. Sell on opening day at about 10-20% gain, and don't look back. You'll find all the cash you can invest for a split of the profit. You may even be able to sell your rights, but I have no clue if that's possible. I recommend all of you hold your accounts open in mutual thrifts and one day you may get this little bonus. If you're moving far away, keep a little in there for just such ocassions. By the way, this is not fool-proof, but offers a way high probability of success, if you get out quick! - -Randy - - - -
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