Date updated:08-18-2007
From Barron's 8-19-07:
Financial stocks enjoyed one of their biggest 24-hour reversals in recent history as gloom Thursday afternoon gave way to hope Friday morning when the Federal Reserve surprised Wall Street by reducing its discount rate to 5.75% from 6.25% and signaling that reductions may be coming in its most important benchmark, the federal-funds rate, now at 5.25%.

-
CFC
Cfc - $0.00
- N/A
- $N/A
"Countrywide has a great franchise. It has historically been well run," says David King, manager of the Putnam New Value fund, a Countrywide holder. "When a large financial company trades below book value, it implies that people feel it may not make it."

-
MTG
M G I C Invest Cp - $4.14
- -5.91%
- $4.36
"MGIC, at $36.64, trades for a fraction of its book value of $54 a share. Even assuming a full write-off of its C-BASS investment, MGIC still would have a book value of around $50."

-
GNW
Genworth Financia - $11.01
- -1.08%
- $10.93
"Genworth Financial, an insurance spin-off from General Electric, is the safest bet among the major mortgage insurers because it gets just 15% of its profits from that business. Genworth, at $30.15, trades right around book value and for less than 10 times this year's estimated profits."

-
DCOM
Dime Community Ba - $11.63
- +1.31%
- $11.55
"Thomas Kahn, a partner at Kahn Brothers, a New York investment firm, takes a different financial tack, favoring well-capitalized thrift institutions that could be taken over as the banking industry consolidates."

-
FFIC
Flushing Financia - $10.88
- +1.59%
- $10.76
"Thomas Kahn, a partner at Kahn Brothers, a New York investment firm, takes a different financial tack, favoring well-capitalized thrift institutions that could be taken over as the banking industry consolidates."

-
FNFG
First Niagara Fin - $13.25
- 0.00%
- $13.20
"Thomas Kahn, a partner at Kahn Brothers, a New York investment firm, takes a different financial tack, favoring well-capitalized thrift institutions that could be taken over as the banking industry consolidates."
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