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

To: Paul Senior who wrote (50350)	12/14/2012 2:34:07 PM
From: smaycs4	2 Recommendations Read Replies (1) \| Respond to of 78748

Yeah, thats the name. Looks like yahoo hasnt updated their stuff yet. Just have to see the SEC filings another way... otcmarkets.com I think I figured tangible book value was only about $1.60 but they have a history of having undervalued assets on their balance sheet which they sold off one by one & returned cash to shareholders (& themselves 3 times via above market tenders.) Their filings are REALLY hard to understand but the best I can tell, all they have left is their subprime auto lending operation but I have no idea how profitable it is or its value to a 3rd party. Or if they plan on growing it. i think they said it IS profitable. They may have some other subprime recievables also. Not clear on that. If they do, I expect they are carried at nothing or on a collection basis so they arent sitting there as a tangible asset. I was kind of waiting/hoping to see some insider buying and if there is, I will buy more. Last year, around Sept the CFO loaded up around $3 so I got in. But, we cant read anything into that old buy because he made more than that on the last tender offer alone. They had a history of a lot of low-life subprime businesses, credit cards & so forth and had a good bit of legal trouble over it. Which explains the name change. Every indication I get is they just want to cash in & close up shop but they have never said that. Maybe with the name change they will start being shareholder friendly and actually SAY something rather than just very long winded SEC filings quarter after quarter. But, I wouldnt bet on it.