Clown-Free Zone... sorry, no clowns allowed Message Board

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

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To: 10K a day who wrote (214954)	1/16/2003 11:36:17 AM
From: reaper	Read Replies (2) of 436258

dood, i have NO idea what you just said... ACF at $4 1/2 is about 1/4 book value. now of course book value is shite, but they can sustain a TON of losses before liquidity becomes an issue at this point, since they somehow conned a bunch of folks to give them money at $7 1/2 a few months ago. Providian when it troughed also traded at about 1/4 book, and it is getting back close to book value today. now yeah i do have some 'moral' issues with supporting a sub-prime lender, but i'm still huge net short the subprime space so hopefully that keeps me in everybody's good graces. (btw, when the day comest that COF trades at 1/4 book, it will be a $5 stock. i can't wait.....) Cheers

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