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Strategies & Market Trends : Value Investing

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To: James Clarke who wrote (9701)	1/21/2000 1:46:00 AM
From: LauA	Read Replies (1) of 78739

James - I must confess that I just got back from the library where I was specifically looking at EFX. I agree with all you say. Note a lot of debt (not sure that I totally understand their credit facility - at least that's what it appears to be although in 1998 they filed an S-3 for some type of debt securities). In any case, VL indicated that they covered interest 6-7X. They spun off their insurance info biz CPS in 1997. Then took on all that debt to buy up credit bureaus. VL noted that things don't work in other countries the way they do here - viz. problems in UK and write off of 34% in Brazilian entity. I was trivially viewing them as a sort of toll booth companion to FIC in consumer credit. I've only seen the things you mentioned. I'm looking for weevils. Lau

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