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Larry Meyers

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  • MicroFinancials' Niche Success May Foretell A Lynchian 10-Bagger [View article]
    Thanks for your thoughts. Remember there are liabilities to offset those assets, and I don't value inventory at 100%. Still, it's pretty darn cheap.
    Aug 6 03:38 AM | Likes Like |Link to Comment
  • MicroFinancials' Niche Success May Foretell A Lynchian 10-Bagger [View article]
    I think that's a fair analysis. I'm banking on a stronger recovery with the firms that need MFI's capital than other businesses in the economy. Most of the firms I know of can't get their capital this cheaply. I think this is a 10-bagger, it's just a question of how long it will take.
    Aug 5 05:05 PM | Likes Like |Link to Comment
  • MicroFinancials' Niche Success May Foretell A Lynchian 10-Bagger [View article]
    I'm not as thrilled about DGSE as I was. After visiting with management and learning a bit about their plans, I've become concerned that they are overly reliant on gold transactions to generate revenue.

    The pawn operators have been destroyed by the collapse in gold prices. CSH closed down its Mexican operations, EZPW has totally revamped theirs. I'm starting to see WE BUY GOLD stores disappear locally.

    There's anecdotal evidence to suggest that the consumer transactional market has effectively been tapped out.

    That being said, with the old management gone, and a new team in place that really are smart and capable people, I wouldn't count them out by any means. I'd even say the stock price is getting close to tangible book value, with a discount for current inventory.

    Plus NTR would be expected to come in and scoop up more shares cheap.

    I'd say the path of least resistance is more up than down. I'd consider at least a trade here, and if I did well, maybe hold some shares while we await further developments.
    Aug 5 05:03 PM | Likes Like |Link to Comment
  • MicroFinancials' Niche Success May Foretell A Lynchian 10-Bagger [View article]
    Boy, their cost of capital is so low, I don't think they need a rights offering.
    Jul 28 04:32 PM | Likes Like |Link to Comment
  • MicroFinancials' Niche Success May Foretell A Lynchian 10-Bagger [View article]
    When the economy picks up....look out.
    Jul 24 03:44 PM | Likes Like |Link to Comment
  • MicroFinancials' Niche Success May Foretell A Lynchian 10-Bagger [View article]
    You're right to an extent, Igor. I just didn't indicate over what time period this ten-fold increase will occur.
    Jul 24 02:17 PM | Likes Like |Link to Comment
  • EZCorp, Inc.: Like All Value Investing, Hidden In Plain Sight [View article]
    Manuel, as someone who has been examining this sector for many years, let me add to the praise for this fine article.
    Apr 28 06:36 AM | 1 Like Like |Link to Comment
  • The CFPB Is Not Armageddon, So Buy These Stocks [View article]
    Adam, one of the amendments that was slapped on the bill last week includes a 36% APR rate cap, which would kill payday in Texas.

    This was an incredibly stupid move. No matter how much one may oppose payday loans, killing them in Texas also kills some 13,000 jobs and over a billion dollars in labor income. What Texas politician would want to be remembered as a job killer?

    I would be shocked if this bill makes it out of the House Committee and if it did, passed the House.
    Apr 28 06:34 AM | Likes Like |Link to Comment
  • EZCorp, Inc.: Like All Value Investing, Hidden In Plain Sight [View article]
    Manuel,
    An excellent analysis of what I believe is one of the most undervalued stocks in the market.

    Two notes:

    1) The volume of gold scrapping increases during period of price volatility, as opposed to periods of elevated pricing.

    2) My understanding is that Mexico does not have a usury cap, and that is written in the Constitution, making it virtually impossible to impose rate caps. Is that correct?
    Apr 18 04:45 AM | Likes Like |Link to Comment
  • The CFPB Is Not Armageddon, So Buy These Stocks [View article]
    That bill is essentially dead. Doesn't stand a chance.
    Apr 8 03:41 PM | Likes Like |Link to Comment
  • The CFPB Is Not Armageddon, So Buy These Stocks [View article]
    The company's management is transitioning. Whenever this occurs, investors need patience. The most recent report was stellar.
    Apr 2 06:14 AM | Likes Like |Link to Comment
  • Imax Has a Collapse in Its Future [View article]
    "2016, if the stock is at zero you win."

    You need a new calendar, bro. ;-)
    Mar 31 05:00 PM | Likes Like |Link to Comment
  • Yield Kidnapped By The Fed? Why It Happened, And Today's Best Income Investments [View article]
    I don't think so and here's why --

    There's a reason BDCs are lending to these businesses -- because they can't get bank loans. They are filling a void. Perhaps some of the banks, eager to lend, will branch out a bit and lend to a few of these businesses.

    But banks are so terrified to even make loans, I don't see it happening.
    Jan 22 04:24 PM | Likes Like |Link to Comment
  • Yield Kidnapped By The Fed? Why It Happened, And Today's Best Income Investments [View article]
    Great analysis.
    Jan 22 04:22 PM | Likes Like |Link to Comment
  • EZCorp: Very Cheap, But Read The Fine Print First [View article]
    Igor, I'm telling you -- you are wrong. If you want to ignore one of the nation's experts in consumer short-term credit, that's your choice but it undermines your own credibility.

    The 36% APR rate cap FOR MILITARY had already been in existence -- your linked article itself reminds us of this. The only thing the amendment to the Defense Authorization Act did was to extend this rate cap to open end lines of credit, which payday lenders never even offered to military because they lose money.

    This was an act of CONGRESS, not the CFPB. I repeat, the CFPB does NOT have rate setting authority. It's in the legislation that created it. Look it up, please.

    And in case you hadn't noticed, the Democrats controlled both houses of Congress from 2008-2010. No legislation was introduced then. Nor will it be introduced now. The reason for the military rate cap was because it was the military -- politicians look good when they do things that protect the military. The payday industry didn't bother fighting that legislation because military made up 3% of loans.

    Further, Sen. Tim Johnson has seen the value of the payday loans for many years, and chairs the finance committee. No legislation limiting rates for the average consumer will make it past him.

    Please do your research. I am always available to offer guidance and information as authors write their articles on payday.
    Jan 22 11:21 AM | 1 Like Like |Link to Comment
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431 Comments
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