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

To: Allen Furlan who wrote (3910)	4/26/1998 1:57:00 AM
From: Paul Senior	Read Replies (2) \| Respond to of 78465

Allen F.: re. National Auto Credit (NAKD). No, I never did research this company. Actually, I never before thought about researching NAKD -g-. My basic investing idea is always to try to repeat what's worked for others. But if researching nakd is what it takes, then I'll do it -LOL-. Wife says no library research this time though; I just better stay at home with the windows and doors closed. Otherwise could get the dogs to howling and the neighbors to shouting she thinks. -g-. Allen, I've given up on these sub prime lenders when they go into (or flirt) with bankruptcy. NAKD (-g- sorry) shows (per Yahoo) very high price to book. But my Reliance Acceptance -- RACC (now called RACCQ - it's in bankruptcy), shows the same. RACCQ are going to sell to Ugly Duckling Car Rental (UGLY) and the stock holders will get warrants for UGLY - small amounts and at high exercise price. Essentially, somewhere along the line, apparently my RACC $3+ book value margin of safety (even after I allowed for defaults) is gone, and I've got a 30 cent stock. Just alerting you that my situation could be same for NAKD. NAKD and UGLY -- what a combination. LOL! (And if you owned Anheiser Busch in here)--- Bud ugly and nakd-----Man... okay,okay. Sorry... Other small players in the industry look weak, but "maybe" okay -- NAFIE or FIFS. They're way to tough for me to figure out. I still own WES which owns the majority of WFSI (WFSI is a sub prime lender - also with its difficulties). I like WES (a regional bank) because of the relatively low p/bv it has compared to its peers, its business diversification, and its ownership essentially by one controlling stock holder. Paul. (Gee. I see now I'm much more flabby than I thought -- LOL.)