All this talk of BK etc. has scared weak investors. This company will survive in my opinion and have a good turn around in 2003. It will be like PVN and do well as time goes on. If you need your money to pay bills etc. you should not be investing in the market.
cat, do us a favor and don't compare this company to PVN. They are entirely different. PVN was a real basket case, Metris is still far from it. Let us not dilude ourselves, the only way this company can go bankrupt is if they can not get their securitized credit refunded. With a history of making payments, it is probably not that likely that banks will implode a company like Metris. Remember, if they go bankrupt, others are going to take a sizable hit on their loans. I don't think that this is at all likely. Metris may have to pay higher rates, but then they will be coming off of a low base due to the heavy interest rate cutting.
Q4 earnings will give us a much better insight into the real bad news lately, which was the shrinking spreads. However, with the massive loss of jobs in the last 2 months (roughly 200,000), a sudden rise in delinquencies is not unexpected, that is with hindsight.
Thank you for your post. I have added to my holding several times and believe that MXT will do well in the long run. Always pleased to find posts by you giving your opinion. Have a good one. PS MXT like me has 9 lives and only on its first.