Henry Reardon - Asymmetric Contrarian
The Business Brew
Subprime Is a Shade of Gray
I actually really like the subprime business. And if you manage your business well, and I think the guy is at one main, we can say that we're going through a tougher economic period for the subprime consumer. They're very high return on equity return on capital businesses, but you really have to pay attention to that. So, when it started with Carvana, I said, okay, well, it's not a tech company. This isn't Amazon. This should be some sort of multiple. What had an added layer was the Garcia senior kind of angle to it.
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