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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?


To: E_K_S who wrote (44971)10/13/2011 9:19:48 PM
From: J Mako  Respond to of 78688
 
re: NAV

Wow, NAV's book is complicated. It shows negative $800m shareholder equity up to Apr 2011. Then, got a $1B deferred tax boost in July.

But it appears $1.73b of the debt backed by securitized financial receivables of $1.14b is non-recourse. Does it mean NAV is misunderstood by the market because of this?

Don't trust what I wrote though. I've only spent 15 minutes on the 10-K.

Can someone verify?