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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (3908)	4/24/1998 6:32:00 PM
From: Allen Furlan	Read Replies (1) of 78470

Paul I know you once did research on Auto Finance Companies. Did that include National Auto Credit, now listed as nakd? I can not find the news on the recent collapse. Company investor relations cannot provide much except that the auditors still have much more to do. Their package to me consisted of 1997 10K and of course 10Qs available in Edgar are probably fiction. However Chairman owns 55% and company is still viable(ie they answer their phones). If only 75% of their 1997 worth evaporates thru the recent debacle, they will be worth more than the current market price. I am going to keep sniffing around but wondered whether you are familiar with the situation.

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