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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (63383)	1/31/2001 2:01:27 AM
From: patron_anejo_por_favor	Respond to of 436258

More problems in subprime land? Check out the business summary on ACF: biz.yahoo.com AmeriCredit Corp. and its subsidiaries, including AmeriCredit Financial Services, Inc. (AFSI), operate in the automobile finance business. Through its AFSI branch network, the Company purchases loans made by franchised and select independent dealers to consumers buying late-model used and, to a lesser extent, new automobiles. The Company targets consumers that are typically unable to obtain financing from traditional sources. Funding for the Company's auto lending activities is obtained primarily through the sale of loans in securitization transactions. Check out the recent insider activity on this little "gem": biz.yahoo.com Seems to me they'll get whacked big time in a recession if auto sales slow and particularly if their customers lose jobs and miss payments...and the stock's at an all-time high! Check out how they did in the '90-'91 recession: finance.yahoo.com Disclosure: no position (yet)....

To: patron_anejo_por_favor who wrote (63383)	1/31/2001 2:03:11 AM
From: ild	Read Replies (1) \| Respond to of 436258

Got COF, PVN, HI, KRB, AXP poots?<G> Patron, Why <G>? How much time do we need in poots?

To: patron_anejo_por_favor who wrote (63383)	1/31/2001 2:09:57 AM
From: oldirtybastard	Respond to of 436258

at least the buyers there are optimistic, maybe fund managers have been thinking the same way, what the hell do they know about debt levels vs. gdp? messages.yahoo.com

To: patron_anejo_por_favor who wrote (63383)	1/31/2001 2:14:10 AM
From: pater tenebrarum	Read Replies (2) \| Respond to of 436258

got COF puts...and i'm planning to add. note: financial services income statements and balance sheets are among the most opaque around...no-one can lie better than they do. virtually every sub-prime lender that went belly-up in recent years had a 'record quarter' just prior to going into ch. 11. look at the banks, and how much 'off balance sheet' exposure some are carrying...you really need to work through all the footnotes to get a sense of what's what, and even then you won't really know the true extent of the risks. so my approach is actually much more mundane - i know we've been in a credit bubble boom, and i know how those end. it's not pretty for the financial stocks usually. admittedly to be bearish on the sector hasn't been exactly rewarding of late - but it will be, and in spades imo.