At one time, the stock was at $60 and then it tanks to the $3 range. I know since I had exposure to ACF at this time and I was fighting the shorts about ACF being a scam on the message boards as well as private emails with Herb Greenberg.

Daniel E. Berce was the CFO at the time and I talked to him personally many times at conferences since I was a high yield bond analyst on the buy side, respectively. I believed Berce to be a competent CFO, but ACF was growing way too fast and that's why it's stock tanked once credit problems caused some their pools to trap cash and there was concern over ACF assisting borrowers that couldn't make payments on time (the shorts claimed ACF was helping to post better credit statistics for its pools, respectively).

The bottom line is that ACF is not well capitalized for it's line of business and as it continues to depend on a primary source of capital (ABS market), it will continue to be at the mercy of credit markets.

I made money buying ACF in the $3 range and given what I know about ACF today at $13, I just don't get the same level of margin of safety, ESPECIALLY given how used car prices are no longer holding its values due to high gas prices. If ACF had to reposses a SUV today versus 2002, do you guys have an idea how much less ACF would get today????