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Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Brotnov who wrote (9353)	7/9/2002 11:48:33 AM
From: Joe Stocks	Respond to of 16631

ACF>>but it gripes me everytime the shorts bash it down.<< I don't see what the shorts have to do with this. The company loans to consumers who have credit limitations or past credit trouble and that accounts for the bulk of its business. These folks are the first to default and since we are seeing a weak economy with rising defaults it would only seem natural that this issue would be under pressure. I would think that would put current earnings projections at risk and I believe tthat is what the street is reacting to. This from a news item today: >>>>>>>>>>>>>>> Goldman analyst Robert Hottensen wrote in his report that although his analysis continues to point to significant improvements in widely tracked metrics - such as cash distribution from trusts and credit losses, "the risks surrounding the timing of these trends are heightened by the choppy economic backdrop." For instance, Hottensen noted, more borrowers are likely to default on their loans amid economic uncertainty. Hottensen now rates the stock "market outperform," but he maintains his earnings estimates of $3.85 a share for the year ended in June and $4.60 for fiscal 2003. Analysts surveyed by Thomson First Call on average expect AmeriCredit to post a profit of $3.86 a share for the accounting year 2002, up from $2.60 a year earlier. In addition, Hottensen said, "we are approaching a seasonally more challenging period and the June securitization data, like that from May and April, is unlikely to definitely settle questions on credit trends or AmeriCredit's cash earnings." AmeriCredit packages most of its loans for sale to investors, retaining the servicing and reinvesting the proceeds in new loans.

To: Bruce A. Brotnov who wrote (9353)	7/9/2002 12:27:13 PM
From: Dave Gore	Read Replies (2) \| Respond to of 16631

Bruce, thanks for pointing out irregularities. IMO, we need to just keep bringing these things in the open and collecting a few and then e-mailing the authorities. As a trader or investor, all we can do is either stay away from these stocks or go with the flow (or should I say, go with the criminals). I don't like the later alternative much. I want the brokerage houses prosecuted as well when their are aiding the shorts or longs in any devious way. I watched Goldman put KG on their recommended list at $38 a few months ago. Tell me they weren't shorting into their recommendation! 07:43 ET King Pharms (KG) 37.99: Goldman Sachs upgrades to REC LIST from Mkt Outperform (NOTE: stock recently went to $17+). Maybe what we need to do is E-mail brokerage Presidents like Goldman and then C.C. the SEC, DOJ, Eliot Spitzer, etc. whenever we spot stuff like this. Because let's face it, they are either manipulating or really stupid to put stocks on their Recommended List that drop by 60%! Do they really think the general public is stupid! Who would trust their money with manipulators or idiots like this! Losing 60% of some poor guys money on a stock they put on their RECOMMENDED LIST! You've got to be kidding! LOL!