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Strategies & Market Trends : Roger's 1998 Short Picks
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To: Joey Two-Cents who wrote (6781)4/12/1998 6:18:00 PM
From: Lazlo Pierce  Read Replies (1) of 18691
 
Joey, re:CSC and Green Tree. I heard an analyst really question Green Tree's accounting methods, and the quality of their earnings. It seems that Green Tree discounts their future earnings for years ahead, on a present value method. He feels the estimate of 2.50 next year is really worth more like 1.25. It was these types of situations that caused Green Tree to report much lower earnings last Q, as they had to write down many of the outstanding loans, due to early repayment in this lower interest rate environment.

Dave
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