Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Mr. Pink who wrote (1481)	5/2/1998 7:41:00 PM
From: Mr. Pink	Read Replies (2) of 18998

To all: It is time to focus on the shenanigans at Sirrom Capital. This stock is one of the most over priced securities on the Big Board. It is essentially a closed end bond fund (technically a "registered investment company") that must distribute 95% of its earnings to shareholders each year. Book value DOES matter when you are dealing with a financial services company. This one is essentially a mutual fund of loans to high growth (read low quality)companies. The problem is they do never recognize their losses and therefore have artificially high earnings. One day they will have to take some losses and the stock shall crash. More details to come. Start doing your work. At worst, Sirrom is a terrific hedge against your positions at 3X the cost of the underlying loans. Mr. Pink suggests a full position and He shall have plenty more info on this during the weeks to come. Cordially, Mr. Pink

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