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Optimism Porn – used car prices
(brontecapital.blogspot.com)
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1 points
by jaspertheghost
6309 days ago
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The biggest single determinant of losses in a subprime auto finance book is not loss rate – it is severity – the loss after the car is auctioned. I am not about to buy non distressed auto securitisations or anything – but if you want to play in the distressed stuff this is clearly good news. |
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