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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: yard_man who wrote (214923)	1/16/2003 10:15:51 AM
From: reaper	Read Replies (1) of 436258

here's Tom Brown's latest on ACF -- that 'huge year' is getting off to a great start... Boneheaded Call of the Year Award. To bankstocks.com. For industrial-strength cluelessness, our take on AmeriCredit last year is hard to top! There’s not enough room on our servers to list all our AmeriCredit-related screwups and misjudgments, but here are some highlights: a) We completely missed the effect that investor nervousness would have on the company’s ability to fund itself, and b) were caught off guard by the size of that darn equity offering. Oh, and c) we weren’t so great at predicting used-car prices, either. Also d) we also made a hash of estimating loss rates. But we got the stock symbol right, and knew the company was based in Ft. Worth! For the record, we no longer hold the view that, as we memorably put it, “the next stop for AmeriCredit is $60!” It ain’t. Through it all, though, the company’s business model does indeed work; we expect a huge recovery in AmeriCredit’s stock in 2003. Cheers

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