Do you feel that investors were hoodwinked?
In retrospect could this have been foreseen?
GSY had great numbers for years and survived many downturns. Then it all fell apart. In hindsight it could have been foreseen and there was a short report somewhat recently on the company but there have been many 'false starts' over the years as well. The loss rate surged and this was surprising. Considering the CEO revolving door of late, there is a chance that newer team members were less aware of the problems brewing or that they became aware and started 'jumping ship'. Soft periods in these businesses are not unusual and it can be hard to discern how much is more macroeconomic related and how much was company specific but obviously GSY issues are a bit more company specific. The numbers were good and analysts had no reason to disbelieve the growth, until it was more or less realized.