Evils in as he spots a bargain20 Dec 2009 22:49
Private and Commercial (PCF) reported yesterday. It's too cheap at 8p to buy. The interesting figures (I am indebted to a storyboard) are net assets of, say, 6 million pounds compared to a market cap of only 3.4 million pounds. Further, there are unrealised profits of perhaps 27.5 million pounds before collection costs and financing costs sitting in the loan book. PCF is a sitting duck.