Dave Gore's Trades That Make Sense Message Board

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Strategies & Market Trends : Dave Gore's Trades That Make Sense

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To: Dave Gore who wrote (10853)	8/7/2002 4:09:47 PM
From: Bruce A. Brotnov	Read Replies (1) of 16631

JP Morgan was really concerned about defaults for ACF with one whole nickel cut on high/low ends. With the new round of buy incentives on new cars that makes more used cars available and more interest in potential buyers which helps ACF financing. I don't like them as a company as they charge 18% interest to risky buyers, so naturally they take some defaults. A few months ago I almost bought a car from a couple who had financed it through ACF. But as long as they do make money consistently and have for a long time, how are they going to "suddenly underperform" the market, other than by manipulation. Bloomberg's latest personal finance had a good article (P.31 Merchants of Doom)showing the effects of short selling on good companies (FBC, IMGC, MSV, POWL - were the examples used)and in this case candidates for a "short squeeze". Bruce

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