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Filed under: Newsletters, Stocks to Buy, Recession, Financial Crisis

"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-perfor

1. We started Portfolio Recovery Associates (PRAA) a few weeks ago as it was one of the few names still holding in a good technical position; the stock was trading above all key moving averages. In this market, nothing lasts long and within days the stock fell off a cliff; and has since sold off to fall below all these support lines. I still like the thesis here but a reader who has owned this stock

With my views on the economic drop being much deeper and longer than most, I am beginning a stake in Portfolio Recovery Associates (PRAA), which is essentially a debt collection company - they buy debts gone bad from other companies for a cheap price and then try to collect more than they paid for. Sort of like what our government is going to do with $700B pretty soon. ;)

Much like our push into pawn shops - and highlighting of "low on the totem" pole retailers - these all play off the same theme. The reasons to own this name should be quite obvious if you've read my articles for more than a