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10-11-2013, 04:34 PM #23
- Join Date
- May 2013
- Posts
- 18
My guess is that they are not profitable on a GAAP basis due to the accounting standards for Revenue Recognition and Loan Loss Reserves...This leads to little to no profit in high growth periods (i.e. their entire existence as a company.) I'm sure they're making positive returns in excess of cost of capital and overhead on their portfolio. Investors will be just fine.
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