Tax Reform in This Election Year: It's Not Likely
Which Credit Card Rewards Does the IRS Care About?"One stock that is holding up well and is poised to do well during hard times is Portfolio Recovery Associates (NASDAQ: PRAA), which is America's most effcient debt recovery company," says Jim Powell in Global Changes & Opportunities Report.
"The company -- which has been on our buy list -- has become especially attractive for the economic conditions I expect to see over the next few months, and probably much longer.
"Portfolio Recovery -- which is America's most efficient debt recovery company -- buys packages of non-performing debts from major credit card companies, and typically pays only 2.6% of the total amount owed. With such a low initial cost, it doesn't take a large collection rate to turn a tidy proft.
"As more consumers default on the colossal debts they ran up during the housing boom, the company should see a great deal of new business.
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