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Advance America, Cash Advance Centers Inc. Message Board

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  • astral_tsar astral_tsar Nov 12, 2008 9:04 AM Flag

    A Little Overdone?

    So maybe should I short QCCO? Because 85% of their revenues are from payday lending, and they come right out and say they're shutting down in Ohio.

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    • My answer would have been yes had I seen your post the day you posted is down almost 50% since then...Ohio is a very liberal state (was) along with Wisconsin and SC --although lots of pressure on SC right now as well....without Ohio things are tough.

      • 1 Reply to mooselope69
      • Thanks for the response ... I figure the gap between the two share prices is likely to close, but I can't get any shares of QCCO to short for a pair trade.

        And frankly there are some things about AEA's reporting that make me uncomfortable. For instance cash flow into a declining advances-receivable account, effectively backfilling for loan losses, that is not really an "investing cash flow." And where's the discussion about the zooming rate of losses as a fraction of aggregate principal advanced? All that makes me feel kind of awkward about the stock, even at these price levels.