Value Investing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Paul Senior who wrote (8026)	8/21/1999 11:25:00 PM
From: James Clarke	Read Replies (1) of 78748

What I'm saying about ESBC's debt is that it is secured by their credit card receivables. It doesn't matter to the net-net calculation, but in terms of my margin of safety it matters a great deal. I am very wary of net-nets that have a lot of debt. I checked to see if there are signs of the credit card portfolio blowing up, and there aren't. My point is simply that this is not a company financing itself irresponsibly. There are two businesses - a conservatively financed retailer, and a sensibly leveraged finance subsidiary. JJC

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next