Credit Acceptance (CACC) Message Board

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Non-Tech : Credit Acceptance (CACC)

CACC 437.37

-4.5%

12:05 PM EST

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To: William Duncan who wrote (79)	2/9/1998 5:33:00 PM
From: 5,17,37,5,101,...	Read Replies (1) of 103

Bill, I am a lousy short term trader. The next few weeks are a mystery to me with respect to CACC: It has tested the $5.50 level, so I don't believe it will again during the next few weeks. I see CACC trending upwards to the $8.00 again. The quarterly report is equally mystifying. Why suddenly do they feel the need to write off $60 million bad debts? They do not ever state that the massive write-off is due to actual bad loans, but related to this new system/policy. I really think this is overkill and will eventually make its way back to earnings. On the other hand, expenses across the board appear out of control. What is your opinion? Jackson

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