Larry Meyers
Value, special situations, long-term horizon, small-cap

First Cash Owns Mexico, So You Should Own First Cash

The nonprime consumer credit industry is going through some turbulent times. There are both opportunities and pitfalls in some of the stocks in this sector. Today I'm going to examine a company I've been following for almost ten years, First Cash Financial Services (NASDAQ:FCFS), which presents a great long-term buying opportunity.

The Nonprime Consumer

Before we jump into fundamentals on FCFS stock, it's essential to understand the products the company offers and, more importantly, the behavior of the nonprime consumer. This demographic has not built good credit, and as such, does not have access to traditional credit sources such as banks or credit cards. A Georgetown University McDonough School of Business Study identified this demographic with the following...

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