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Results were stronger than I expected. CASS adds a bit of a cautionary note going forward:

"Even though national economic factors and trends may not be as beneficial for us in 2007 as they were in 2006, we remain confident in the abilities of our people to grow the company in the year ahead."

However it seems to me that the economy is more likely showing additional strength now and my guess is we may have passed the worst of the housing related downturn.

More analysis needed when the 10-Q is out.

sw - holder of CASS in individual and/or managed accounts.

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