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$$ ACAS Presentation and Q&A

We (subscribers and I) originally got into ACAS last December at $2.96 and are sitting on 140% gains. I feel we still have at least another $5 a share of gains in this stock before we have to begin to wonder if it has reached its valuation.

For those who like transparency and disclosure, I have yet to run across a company that discloses more detail on their individual investment in SEC filings than ACAS.

Listen to the following call and the Q&A at the end.

Pay attention to the de-leveraging that has taken place, the current marks on ECAS vs true value (slide 36), and the marks they have on sold investments (2.9% difference, meaning BV is rock solid).

Crib notes: Slides 17-18,20-21,23-26, 31-32

ACAS Presentation 11-30-2010 (click to listen)

ACAS at FBR 11/30/2010 (click to open .pdf)

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