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

To: chester lee who wrote (4507)10/30/1998 1:15:00 PM
From: DavidD  Respond to of 18998
 
<<Overtime, stocks will trade to their fundamentals.>>

You mean like YHOO, AMZN, etc?

MP has said in the past he likes something more than just overvaluation to short a stock. With PVN, he was betting they would have trouble selling their inventory of loans (thus hurting their ability to fund more loans) because the securitization market was in the crapper. It would be nice to have him reaffirm that PVN is (still?) having real problems.



To: chester lee who wrote (4507)10/30/1998 1:28:00 PM
From: Pancho Villa  Read Replies (1) | Respond to of 18998
 
PVN's lofty multiple has to be seen in light of poor quality paper earnings and poor accounting for customer defaults which makes the multiple even more irrational. Also, they overpaid for the portfolios of junk credit card debt they purchased earlier in the year.



To: chester lee who wrote (4507)10/30/1998 1:31:00 PM
From: Pancho Villa  Respond to of 18998
 
excellent opportunity to add to TLC PCTY shorts or initiate a position....


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