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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (70621)	7/8/2022 3:09:39 PM
From: Spekulatius	Read Replies (2) of 78748

You are correct that the car dealer business appears to be better than auto producer business, but why would you go along with SAH? SAH has been chronically mismanaged and they underperformed. Some investment friends like ABG, which really has grown by acquisitions and presented very strong results. its not much more expensive than SAH and in my opinion has much better prospects. If you are in the new car market (I sadly am) then you also know that the car dealers are currently over earning, as they can sell cars above MSRP using market adjustments. That's not going on forever but you could argue that they re cheap even if earnings normalize, which probably takes until 2024.

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