At 10 times earnings, when the credit cycle is peaking, it's hard to argue this is very undervalued. A steady rise in bad loans blows away that earnings figure, along with the book value.
Management have proven themselves in creating a very nice margin, but there's still significant risk in the quality of the book given how quickly they're growing it.
MNY Price at posting:
$2.01 Sentiment: Hold Disclosure: Held
