Below is a note from CEO Keith McCullough on why we're adding Credit Acceptance Corp (CACC) to the long side of Investing Ideas today:
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Looking for more long exposure to the Financials post yesterday's smack-down selloff? How about a Specialty Finance company that Financials analyst Josh Steiner likes by the name of Credit Acceptance Corp (CACC)? In the intro to his deep dive Black Book (Institutional Research product), Steiner wrote the following about CACC: "Having admittedly embarked on our study of CACC with a largely negative bias, our findings, much to our surprise, emerged as a strong refutation of the dominant, heavily agreed upon short view of this company. In our call next week, we will tackle this highly controversial, timely, and topical name in the financials space with an analysis that will, at minimum, make the institutional community reconsider the case for a short." Yours in buying on red (not chasing charts on green), KM |
