Chasing Value: EZ-Corp's Australian move

Sheldon Liber — Thu, 20 Aug 2009 14:30:00 EST

Filed under: International Markets, Competitive Strategy, Money and Finance Today, Chasing Value[TM], Stocks to Buy, Best Stocks for 2009, EZCORP (EZPW)

Perhaps EZCorp (NASDAQ: EZPW) will have to create a section for surfboards and snakebite kits to accommodate the customers they hope to gain in Australia by investing in pawn shop operators, Cash Converters International Ltd.

The Texas based pawn shop and check cashing company invested $45 million for a 30% stake in the Cash Converters getting two seats on the board and making a grand leap half way around the world. Just last year they bought outright a Mexican company, expanding their North American operations.

Last December EZCorp was included on my list of nine suggestions for 2009. Since that time it has remained one of the two laggards. I still believe in the company that continues to expand, using its own cash as it maintains a very low level of debt.

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Chasing Value: Job losses could equal pawn shop gains -- CSH, EZPW

Sheldon Liber — Wed, 31 Dec 2008 09:45:00 EST

Filed under: Consumer Experience, Competitive Strategy, Chasing Value[TM], Best Stocks for 2008, Recession, Best Stocks for 2009

Sometime in the future the economy will recover, maybe not with staggering gains, but it will recover. Ah, but you ask when? Well, trying to forecast that, would really be sticking my neck out.

If you are an avid reader then you have seen some predictions that speak of a recovery in the spring and some that push it out as far as 2011. Tough business that prediction business.

All that is well and good, but let me get to something that I do feel comfortable predicting, or at least repeating the daily news: UNEMPLOYMENT WILL BE GETTING A LOT WORSE in 2009. Who will benefit from this? I expect the church pews and bar stools will be in full use. I also think pawn shops, those lenders of last resort (excepting your local loan shark) will be doing a booming business.

The two most prominent pawn shops that are expanding organically and by acquisition are Cash America (NYSE: CSH) and EZCorp Inc. (NASDAQ: EZPW). Both are down this year but beating the indices by a fair margin.

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Chasing Value: Job losses could equal pawn shop gains -- CSH, EZPW originally appeared on BloggingStocks on Wed, 31 Dec 2008 09:45:00 EST. Please see our terms for use of feeds.

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