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Strategies & Market Trends : Consumer Portfolio (CPSS) Overbought! -- Ignore unavailable to you. Want to Upgrade?

To: bob yahnke who wrote (68)	8/31/1998 5:53:00 PM
From: StaggerLee	Respond to of 112

THIS is insanity. At June 30 CPSS had a book value of $5.92. Today it closed at $1.91. That means the company can afford to take a $4/share write off and still be trading below book value! $4/share is $61 million, which means even if CPSS decides to write off ALL of 1998's year to date revenues, the stock is still trading below book value. Although, it's unfortunate that news about loan quality deterioration has to come from an analyst instead of from management. Should be an interesting conference call tomorrow.