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Strategies & Market Trends : Value Investing

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To: judge who wrote (2024)	9/29/1997 11:48:00 PM
From: Paul Senior	of 78666

Justin: re: consumer finance stocks. I looked quickly: very hard for me to analyze. Ctys was written up in Barron's as having very questionable/aggressive accounting I think. Couple of stocks you mentioned were managers of stock portfolios? Sosnoff, etc. MFN way too tough for me to comprehend. Fent with psr of .8 and p/book of 1.4 (Yahoo)... I don't know. I got my own troubles in this area -I own RACC at new low of 3. If RACC doesn't go bankrupt and the new ceo (the previous guy lasted about 3 mo) can turn it around, I figure it could work out... but in that 3 year timeframe. With some of these consumer lending co.'s any sharpie can show profits...just lower the lending standards and book more revenue. But eventually the trail of the deadbeats stops at the doorstep. On the other hand, there is a demand by many honest people for consumer loans, so there is (or should be) a legit. and profitable business out there. But which co or co's will prosper, I do not know. Paul

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