Generally the market is an efficient mechanism that prices securities based on all of the available information. True undervalued opportunities are rare to come by. In many cases, investors falsely categorize companies as undervalued because they either do not fully understand the risks or are too optimistic about the future. However, Asta Funding Inc. (NASDAQ:ASFI) is undervalued when looking at it in the most objective way possible, based on cold-hard cash.
Asta Funding is engaged in the business of purchasing, managing for its own account and servicing distressed consumer receivables, including charged-off receivables, semi-performing receivables and performing receivables. A large portion of the Company's distressed consumer receivables are MasterCard®, Visa®, other credit card accounts, and telecommunication accounts which
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