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Non-Tech : Banking and Finance? How about a pawn shop? - PWN
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To: Gary Vanier who wrote (2)7/29/1997 12:58:00 AM
From: Carl R.   of 56
 
I took a quick look at them. They look pretty attractive as well. You into Pawn shops, too?

I took a quick look at PAWN. Nice growth, low PE. Their big problem seems to be a low return on equity, and dilution from the acquisitions. I have bought into companies that have been on an acquisition binge before. DIIG worked out great, USF has thus far been a bust. The secret is that they ultimately need to quit the stock acquisitions, make money, then do cash acquisitions.

Oh, also, my report is showing book value is $5/share, but net tangible assests as NMF. This implies that they have alot of goodwill on their books, and that debt is equal to hard assets, which isn't very good. Is this correct?

Carl
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