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

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To: chester lee who wrote (4507)10/30/1998 1:28:00 PM
From: Pancho Villa  Read Replies (1) of 18998
 
PVN's lofty multiple has to be seen in light of poor quality paper earnings and poor accounting for customer defaults which makes the multiple even more irrational. Also, they overpaid for the portfolios of junk credit card debt they purchased earlier in the year.
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