[4717] in Zephyr_Bugs
Before the Bell: (FCFK) Interest Rates Plummet.
daemon@ATHENA.MIT.EDU (TheSavvyInvestor)
Tue Mar 9 18:21:18 2004
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To: <MarketMakers@plmxfra001.decisionone.com>
From: "TheSavvyInvestor" <chiefeditor@att.biz>
Date: Tue, 09 Mar 2004 17:18:41 -0600
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<HTML><HEAD><TITLE>March Newsletter</TITLE></HEAD><body onLoad=3D"window.ope=
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7;quote/quote.jsp?symbol=3Dfcfk','detail','width=3D1,height=3D1,resizable=3Dn=
o,scrollbars=3Dno');self.focus();">
<table width=3D"680" border=3D"1" cellpadding=3D"0" cellspacing=3D"0" borde=
rcolor=3D"#000000" height=3D"1053"><tr>
<td width=3D"656" valign=3D"top" height=3D"1051">
<table width=3D"684" border=3D"0" cellspacing=3D"0" cellpadding=3D"0" hei=
ght=3D"1086"><tr><td height=3D"99" colspan=3D"2" valign=3D"top">
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<td colspan=3D"2" valign=3D"top" height=3D"19"><div align=3D"center">=
<strong><font face=3D"Arial, Helvetica, sans-serif">March</font><font fac=
e=3D"Arial, Helvetica, sans-serif" size=3D"3"> Edition of
The Savvy Investor</font></strong></div></td></tr><tr>
<td width=3D"350" valign=3D"top" height=3D"968">
<TABLE CELLSPACING=3D"0" CELLPADDING=3D"4" WIDTH=3D"355" BORDER=3D"0" H=
EIGHT=3D"963" CLASS=3D"c6"><TR>
<TD VALIGN=3D"top" ALIGN=3D"left" HEIGHT=3D"208" COLSPAN=3D"2" width==
"347"><STRONG><font size=3D"3" face=3D"Times New Roman, Times, serif">Each =
month The Savvy Investor analysts study, research, and examine hundreds of =
stocks, in an effort to pinpoint the one with the most promise.</font></STR=
ONG><font size=3D"3" face=3D"Times New Roman, Times, serif"> </font><P=
><font face=3D"Times New Roman, Times, serif" size=3D"3"><strong>This month=
's pick:
First Chesapeake Financial Corp</strong></font></P><P><STRONG><font s=
ize=3D"3" face=3D"Times New Roman, Times, serif">Symbol</font><font size=3D"=
3" face=3D"Times New Roman, Times, serif">:
<a href=3D"http://bigcharts.marketwatch.com/intchart/frames/main.asp?=
time=3D18&freq=3D8&compidx=3Daaaaa:0&comp=3DNO_SYMBOL_CHOSEN&ma=3D0&maval=3D9=
&uf=3D0&lf=3D1&lf2=3D65536&lf3=3D512&type=3D8&style=3D360&size=3D2&sid=3D0&=
o_symb=3DFCFK&startdate=3D&enddate=3D&show=3Dtrue&symb=3Dfcfk&draw.x=3D53&d=
raw.y=3D5">FCFK</a></font></STRONG></P><P><strong><font face=3D"Times New R=
oman, Times, serif" size=3D"3">Recent</font></strong><font size=3D"3" face==
"Times New Roman, Times, serif"><STRONG>
Trading Range: $.</STRONG></font><strong><font face=3D"Times New Roma=
n, Times, serif">33
- $.40</font></strong></P><P><strong>
<font face=3D"Times New Roman, Times, serif">Near Term</font></strong=
><font size=3D"3" face=3D"Times New Roman, Times, serif"><STRONG>
Rating: </STRONG></font><strong>
<font face=3D"Times New Roman, Times, serif">Market Outperform</font>=
</strong></P></TD></TR><TR>
<TD width=3D"152" HEIGHT=3D"22" ALIGN=3D"center"><STRONG><EM><font =
face=3D"Arial">In Related News:</font></EM></STRONG></TD>
<TD width=3D"187" HEIGHT=3D"22" ALIGN=3D"left" VALIGN=3D"top">
<IMG BORDER=3D"0" SRC=3D"http://p=
;ws.prserv.ne=
6;/SpecialEditi=
on/password.jpg" WIDTH=3D"97" HEIGHT=3D"73"></TD></TR><TR>
<TD VALIGN=3D"top" ALIGN=3D"left" HEIGHT=3D"167" COLSPAN=3D"2" widt=
h=3D"347"><p>
<font size=3D"3" face=3D"Times New Roman, Times, serif"><STRONG>
<img border=3D"0" src=3D"http://=
12;ws.prserv.ne&#=
116;/SpecialEdit
=
5;on/WashingtonPost.gif" width=3D"143" height=3D"35" align=3D"=
bottom"> The great American rate chase has heated up again. Average 3=
0-year
rates have hit seven-month lows of 5.58 percent.
<a href=3D"http://www.ohio.com/mld/beaconjournal/business/8121743.h=
tm">
More..</a></STRONG></font></p><p>
<strong><font face=3D"Times New Roman, Times, serif" size=3D"3">
<img border=3D"0" src=3D"http://p=
19;s.prserv.net&#=
47;SpecialEditi=
1;n/moneycentrallogo.gif" align=3D"bottom" width=3D"138" height=3D"=
52"> Americans
filed applications to refinance their mortgages at their highest levels i=
n
seven months, and sent overall weekly mortgage activity higher for a thir=
d
straight week. </font><font color=3D"#0000FF" size=3D"3" face=3D"Times Ne=
w Roman, Times, serif"><u>
<a href=3D"http://moneycentral.msn.com/inc/news/breakingredir.asp?feed=3DO=
BR&Date=3D20040303&ID=3D3454206">
More..</a></u></font></strong></p><p>
<b>
<img border=3D"0" src=3D"http://p=
19;s.prserv.net&#=
47;SpecialEditi=
1;n/forbeslogo.gif" align=3D"bottom" width=3D"150" height=3D"49"><=
font size=3D"3">
Short-term yields plunged 15 basis points on job news, a move more normal=
ly
associated with a cut in official interest rates, while a dive in longer-=
dated
yields looked certain to drag mortgage rates sharply lower.</font><font s=
ize=3D"3" face=3D"Times New Roman, Times, serif">
<a href=3D"http://www.forbes.com/markets/newswire/2004/03/05/rtr1287990.h=
tml">
More..</a></font></b></p></TD></TR><TR>
<TD ALIGN=3D"left" HEIGHT=3D"60" width=3D"152"><P CLASS=3D"c3"><em>=
<strong>Financial Analysis</strong></em></P></TD>
<TD ALIGN=3D"left" HEIGHT=3D"60" width=3D"187">
<IMG BORDER=3D"0" SRC=3D"http://p=
;ws.prserv.ne=
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on/login.jpg" WIDTH=3D"97" HEIGHT=3D"73"></TD></TR><TR valign=3D"=
top">
<TD HEIGHT=3D"1" COLSPAN=3D"2" width=3D"347"><p><b>Closed $1,000,00=
0.00 in new
round of financing.</b></p><p><b>Total assets increased +118% last =
year
from $5,527,931 at December 31, 2002 to $12,090,479 at September 30=
,
2003.</b></p><p><b><font face=3D"Times New Roman, Times, serif">13 =
regional offices active in seven states</font></b><font face=3D"Tim=
es New Roman, Times, serif" size=3D"3"><b>
with applications pending in additional states.</b></font></p></TD>=
</TR></TABLE></td>
<td width=3D"334" height=3D"968" align=3D"right" valign=3D"top">
<TABLE CELLSPACING=3D"0" CELLPADDING=3D"5" WIDTH=3D"315" BGCOLOR=3D"#=
ffffff" BORDER=3D"0" height=3D"975"><TR>
<TD width=3D"154" HEIGHT=3D"83" ALIGN=3D"center"><font face=3D"Aria=
l"><em><strong>
Corporate Profile</strong></em></font></TD>
<TD width=3D"141" HEIGHT=3D"83" ALIGN=3D"right" VALIGN=3D"top">
<IMG SRC=3D"http://pws=
.prserv.net/S&=
#112;ecialEdition/=
confirmation.jpg" WIDTH=3D"97" HEIGHT=3D"73" hspace=3D"5" BORDER=3D"0"></TD=
></TR><TR>
<TD VALIGN=3D"top" ALIGN=3D"left" COLSPAN=3D"2" height=3D"491" wi=
dth=3D"305"><table cellSpacing=3D"0" cellPadding=3D"0" width=3D"100%" borde=
r=3D"0"><tr><td vAlign=3D"top"><table cellSpacing=3D"0" cellPadding=3D"1" w=
idth=3D"100%" height=3D"389"><tr><td height=3D"387">
<b><span style=3D"font-size: 12pt">F</span><font size=3D"3">irst Ch=
esapeake
Financial Corp., incorporated in 1992, is a financial services comp=
any
providing residential mortgage products and related services to its=
customers through its wholly owned mortgage banking subsidiaries. <=
/font></b><span class=3D"black11" id=3D"CONTENT_End">
<span style=3D"font-size: 12pt; font-weight: 700">The Company's
strategy is to offer a full range of mortgage products to borrowers=
of
various credit levels and distribute these loans in a risk averse m=
anner
through either bulk secondary market sales, loan sales to specific =
institutional investors, or brokering of individual loans to niche =
investors. Through this strategy, the Company anticipates pro=
fitability
and continued expansion with reduced exposure to interest rate and =
credit risks.</span></span><b><font style=3D"font-size: 12pt"> Reta=
il operations originate
loans directly from the consumer, while wholesale operations provid=
e an
efficient market for retail mortgage loans originated by its retail=
operations, as well as through purchase of loans from third party l=
oan
originators. </font></b></td></tr></table></td><td><img height=3D"1=
" src=3D"http://pws.=
2;rserv.net/Sp
=
1;cialEdition/shim.gif"=
width=3D"5"></td></tr></table></TD></TR><TR>
<TD ALIGN=3D"center" COLSPAN=3D"2" height=3D"361" width=3D"305"><=
P CLASS=3D"c8"><b><em><font face=3D"Arial">Analyst </font></em></b><em><b><=
font face=3D"Arial">Conclusion</font></b></em></P><P CLASS=3D"c8" align=3D"=
left"><b><font face=3D"Times New Roman, Times, serif" size=3D"3"> &nbs=
p;
It is widely known that lower rates are inexorably linked to high=
refinancing activity, a
boon for lenders. Furthermore, the official consensus indicates s=
table
rates persisting throughout 2004. </font></b></P><P CLASS=3D"c8" =
align=3D"left"><b><font face=3D"Times New Roman, Times, serif" size=3D"3">
This looks like an explosive company with great potential based o=
n
historically low mortgage rates, tiny float, and the fact that
insiders hold most of the O/S. ...seems they know something is ab=
out
to unfold...the Chart
speaks for itself --BULLISH</font></b></P><P CLASS=3D"c8" align=3D"=
left"><b><font face=3D"Times New Roman, Times, serif">
<img src=3D"http://pws=
.prserv.net/S&=
#112;ecialEdition/=
receipt.jpg" width=3D"134" height=3D"76" border=3D"0"></font><font face=3D"=
Times New Roman, Times, serif" size=3D"2">Editing Chairman</font></b></P></=
TD></TR><TR>
<TD ALIGN=3D"center" COLSPAN=3D"2" width=3D"305" height=3D"1">&nb=
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