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Converted thrift trading at a discount to tangible book value.
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Second step of mutual conversion should be completed by end of June.
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Financials peaked earlier than any other of the nine S&P industry sectors. This occurred on October 14, 2009. Therefore, I am particularly bearish on stocks in the financial sector that have high P/E ratios and low dividend yields. This is the easiest and most effective way to measure intrinsic value.
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