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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (685)	12/21/1997 4:26:00 PM
From: David S.	Respond to of 18998

He thought pretty highly of it. I bought the stock on the IPO and made a ton of $ on it, and sold the entire position several months ago. If we get into a bear mkt, it is possible that the warrants they hold won't be worth anything, and in effect, they are just another specialty lender. Throw them in the same boat as Medallion Financial, Coinstar, etc. This one is more diversified, of course, but as far as the multiples of book, etc. that it should sell at, I think those two would be a good place to start a peer group. The company is far from a scam. On the other hand, if we have a recession, and some of their clients fall a bit behind in their payments, they get more warrants and when we come out of a recession, they can take a few of those companies public and make good money - what is tricky is if the market will value those one time gains as one time gains or be stupid enough to consider it part of earnings from continuing operations. you should also give me a buzz regarding a certain factoring company...