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Berko the Clown Featured

This is what Malcolm Berko, an investment columnist, says about Credit Acceptance: "Credit Acceptance Corp. (CACC-$282) has lending contracts with thousands of grubby dealers who run grimy used car lots from offices in grungy shacks and trailers. Their only pieces of office equipment are a smartphone, a pocket calculator, several ballpoint pens and a fax machine/printer attached to a computer. And even prominent dealers resort to CACC when payday lenders, online loan stores, drug dealers, pawnbrokers and loan sharks from the Islamic State group and the Mafia turn down a credit application."

He recommends a sell. No surprise. His reasons to sell the stock make sense. There are reasons for concern at the creditor. But he could have laid these out in a logical fashion, rather than denigrate dealers and their customers. If you look at this guy's biography, it claims he made a fortune as an investor and then lost his position, despite all his success, for speaking truth to power. I get the impression he's just another loud mouth. He's the guy at the end of the bar who buys everybody drinks, but makes you pay by having to listen to him.

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