Larry Meyers

World Acceptance Has the Goods; Citron Doesn't

Let me also add, Craig, that I have the courage of conviction to post opinions under my real name. Unlike you.

World Acceptance Has the Goods; Citron Doesn't

You're welcome.


On Sep 24 06:14 PM Volman wrote:

> Seek and ye shall find
>
> Very good read and plain truths, unlike Citron.
>
> Thank you

World Acceptance Has the Goods; Citron Doesn't

Craig:
Their customers are doing just fine, and the business has been around for 45 years. Their loan losses are 16.5%, which is not significantly more than it has been historically.

And, given that you seem more interested in my entertainment career than actually addressing specific points to my rebuttal, I think it's rather clear that you actually have nothing to counter said rebuttal.

And for the record, try looking under "Lawrence" -- not to mention that IMBD only publishes produced credits, not feature film sales or rewrites.

Anything else, or have you exhausted your arsenal?

World Acceptance Has the Goods; Citron Doesn't

Craigla1:
You may have been a banker, but that you ascribe the reasons you do for the stock's current valuation shows you know little about the stock market.

There are many reasons why a stock is valued the way it is. For every joker who points to a low PE as being a value trap, there are plenty of people who have made ten-baggers.

THe Loan Loss Reserve to Non Performing Asset ratio is right there in the 10-Q's. I'm not your research assistant. Look it up for yourself.

You ask " how do you have any faith they are reporting non-performers accurately? If you look at EVERY bank or financial institution (on down to BSC and LEH) that runs into trouble, they ALWAYS are very liberal in their accounting for things like bad assets."

As I am actually IN the short-term and installment loan business, I see that their numbers are in line with those of all other public and private companies that operate in this space.

In addition, you have provided no evidence that shows the WRLD is like "every other financial institution". Just because you say the others are "liberal" does not mean that WRLD is. Until you can provide more than speculation, I prefer to deal with facts.

"Note I am not saying this is a short due to pending federal legislation or regs which will limit their rate setting ability."

Good. Because today's big headline is that the CFPA will not have oversight over non-banks. So half of Citron's report just went bust without my help.

"And AGAIN, if you're not an employee or LONG THE STOCK, then WHY are you combing their K and Qs to make a 15 point rebuttal of Citron?"

Ah, yes, the last resort of the debate loser. Attack the messenger.

The obvious answer is that I'm in the industry, but not associated with WRLD. An attack on WRLD is an attack on the industry.

But here's a little lesson in logical debate. What if I actually did work for the company -- which I don't -- or that I am the long the stock -- which I am not ?

Does it change any of the ARGUMENTS?

Look at the MESSAGE, Craig, not the messenger.

Attacking the messenger only works if the messenger is lying.

I'm not lying. All the information is right there for anyone to find.

You have attacked exactly one aspect of my argument. I've provided a rebuttal.

If you are truly concerned about the points I've raised, or take issue with them, then why even listen to me?

Call the company. I'm amazed at how many people challenge various assertions of mine and expect me to be the final arbiter.

If you question the company's practices, call them. Get it from the horse's mouth. Why listen to a blogger?

World Acceptance Has the Goods; Citron Doesn't

I do not work for the company.
I am not long the stock.
I did what Citron did not -- actual research. You can do this research, too. All you have to do is read the 10-K and 10-Q and read conference call transcripts. Everything I have written about in all 4 of my articles is all right there. That you are mystified as how I came to this knowledge demonstrates to me that you have little interest in the truth, either.

You are underinformed if you believe that the reasons you gave for the current market valuation are correct.

Ashford Hospitality Trust: Strong Cash Flow

Hmmmm...an interesting, insightful, thoroughly research commentary by someone who has commented....twice on the website.

Finding Value in the Payday Loan Sector

Yes, I just became aware of them. I have not yet dug into the financials but plan to in the near future.

The Housing Crash Isn't Over: Here's How to Profit

Florida Fred:
As to your comment about rentals. As people get foreclosed on they need a place to live. They end up becoming renters and their preference is to rent a house and not an apartment. Also, as house rental rates get closer in line with apartments you will find that apartment renters want to become house renters and then later become home owners. Right now apartment rents are seeing downward pressure while house rental rates are seeing a slight increase. This trend is expected to continue over the next 2 to 3 years.

The Housing Crash Isn't Over: Here's How to Profit

FloridaFred:
You are correct that financing favors owner-buyers. In the foreclosure market, with houses that need to be rehabbed, you cannot get financing. Hence the reason you need private equity -- they can arrange the financing for you on individual plays (which I believe G7 does), or just buys the house outright with their cash pile.

The Housing Crash Isn't Over: Here's How to Profit

It isn't necessary to rent a foreclosed/rehabbed home. Buying it, rehabbing it, then flipping it will earn an enormous return.

Good luck financing that home, though. You can't get financing to rehab a foreclosed home. Hence the need for private equity.

Meanwhile, go back and look at the rent-to-price ratio chart. The trend of homes cash flowing via rental is going in a positive trajectory, not negative.

Don't Sleep on EZCorp

I disagree completely. It's a solid buy and still cheap here at $12.

The Housing Crash Isn't Over: Here's How to Profit

Oh, NYC is in there, alright. Just not the top four.

The Housing Crash Isn't Over: Here's How to Profit

And these are all the reasons why getting into foreclosed real estate is the play going forward. Who needs the stock market with the risk it entails?

The Housing Crash Isn't Over: Here's How to Profit

User 438692:
Contact me at [e-mail]


On Jul 21 10:59 AM User 438692 wrote:

> How do you get in touch with G-7 Capital Management? I can not seem
> to find them on the web.

We Don't Need "Payday" Lenders

Rhino, you made a fallacious statement. Since states are banning the product, therefore the consensus is that the product is "predatory". This couldn't be further from the truth.

There are loads of facts about payday loans out there, but as someone whose comments have been negative towards the product, I imagine there's very little point in sharing with you the mountains of evidence.

Nevertheless:
www.bloggernews.net/12...
www.bloggernews.net/12...
www.bloggernews.net/12...
www.bloggernews.net/12...

And most of all, the NY Fed study that shows PDLs do not fit the definition of "predatory"

papers.ssrn.com/sol3/p...