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Strategies & Market Trends : Value Investing
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To: TimbaBear who wrote (16179)1/16/2003 10:23:49 PM
From: Spekulatius   of 78680
 
<< Anyone looking at ACF here? Book value is 12.50, still supposed to make over 70 cents in CY03. Risks yes, but seems very discounted here under 4.>>
ACF is a subprime lender in one of the worst segments of the market: car loans. Subprime is bad enough in a choppy economy but the car loan business must just be awful due to 0% financing and falling reposession values. They have recapitalized recently but are still running into trouble.

I agree with your opinion that they won't make it.
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