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ian said |
| 1 year 144 days ago |
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11,400 target reached
They said I was crazy.
June 27, 2008, Dow closing price: 11,346.51. ACF $9.04.
Next target, Dow 10,000.
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ian said |
| 2 years 14 days ago |
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ouch
ACF now $11.55 - massive crash.
I will sound crazy when I say this - but I am going on record now predicting the Dow will drop to 11,400 or below.
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ian said |
| 2 years 94 days ago |
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worst used car market in the past 15 years? subprime auto lenders next to melt down?
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_A/threadv...
After 40 years as a used car dealer I can say that this is the worst market I have seen in maybe the past 15 years. CACC has "dealer partners" they buy paper from and CACC has little real downside exposure other than the price of money.
HSBC and WF are at the top of my short list. The number of repo's we are seeing at the auctions are alarming! Not just the number of cars but the CONDITION is downright scary. Many of these units are selling for a yard behind rough.... As to our reposessions, the condition is just deplorable; no maintenance to speak of; filthy condition and rife with electrical problems due to unproperly installed stereo's.
Keep in mind folks that the shorts have largely worked their way through subprime mortgage stocks. Subprime auto lenders are next and frankly, I see a melt down.
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