Not sure I understand? They actually seem like a pretty ethical mob. Would you prefer people rack up debt with no consequences? Somebody gotta do it.
CCP - Credit Corp Group
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Not sure I understand? They actually seem like a pretty ethical mob. Would you prefer people rack up debt with no consequences? Somebody gotta do it.
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You need to understand:
Any landlord is a racketter, any lender a robber, any wage a steal from the poor who do not work and are entitled to their fair chair of society, and nothing is fairer until everyone got the same some people still believe in the miracle of socialism.watching too much ABC...
Do not ever entertain the idea of any self control or self reliance, the fact a lender can allow you the extra bucks out of default on a bill or to bridge toward a next pay cheque.
And do not ever mention the bloody self funded retirees who do not want to die.
There are trace of clinical issues but a full denial of the problem
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You got a point but not necessarily I understand the comparison or agree.
It is like (sorry) saying all kinds of an intimate relationship is one form of rape- extreme comparison. Yes, just like say any lender is a robber and any landlord is a racketer.
By the way, this director has been unloading over three weeks its stocks to pay off own mortgages !!!!!!!!!!!
https://www.asx.com.au/asxpdf/20200226/pdf/44fgg0yd2r2nd5.pdf
https://www.asx.com.au/asxpdf/20200218/pdf/44f5dpwwn7b4gn.pdf
https://www.asx.com.au/asxpdf/20200212/pdf/44f0r7zwwm0fsx.pdf
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Miner all of those director share sales you list took place in February at prices between $36 and $38 per share. No directors are currently unloading at today's prices.
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If the Credit Corp share price drops a few more dollars it will be worth buying.
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Was having a go at views of some of ASF members.Until all companies are coop reusing second hand goods and only have transgender non white employees, nothing is good enough.
There are crooks every where, but making a profit aka capitalism is what makes the world go round .
CCP is a decent company
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Great views - similar to having walls to stop Mexicans. Don Trump will kiss you
LOLOn a different note how was the blood pressure today and what will be tomorrow ?
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I lost on paper less than 3k yesterday and have had dozen of worse days in the last 6 months so on portfolios a non event.Great views - similar to having walls to stop Mexicans. Don Trump will kiss you
On a different note how was the blood pressure today and what will be tomorrow ?
On individual trend systems was a bloodbath loosing all the gains of the last yeat plus more
Was able to cash on qantas and fmg shorts, sold bboz and pmgold bonds acting as they were supposed to.
Disappointed by gold miners loses..that was unexpected
US market down even more.
another bad day ahead?
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Bad is an understatement for FTSE, DJ and today ASX.
Dont know where the paper losses will stop . It is so tempting to lose patience and making mistake. Bottomless prices.
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there
is a bottom: $0.....;-)
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Well to state the obvious, where I'm always most at home, their debt ledgers were purchased before the Chinese 'pandemic' when everyone could go to work and businesses could operate and make money. Therefore wouldn't the market perceive those ledgers as worth less today? If they were purchasing those same ledgers today wouldn't they cost less? The debtors on the other side of the ledgers were already distressed, or at least recalcitrant before this happened.
Also, the expansion into the US - will that now be looked at more sceptically?
Also, the chairman, McLay, selling wads at the market top would I guess persist as a negative signal. It would for me anyway.
Also, the expansion into the US - will that now be looked at more sceptically?
Also, the chairman, McLay, selling wads at the market top would I guess persist as a negative signal. It would for me anyway.
Thanks for the contrarian viewpoints. Last one RE McLay I guess is more luck than anything else.
For the debt ledgers I’m not sure, will need to take a look under the hood to understand but my assumption would be that you’re no further in debt now just because the world has gone whacko - if you’re on one of their books nobody else is giving you a loan.
The US expansion could be sticky now with corona.
galumay
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I was wondering the same this morning, still higher than I paid for most of mine, but getting to the point of topping up. The big question is how hard it will be to recover debts in a severe depression, I dont have anyway to quantify that, but its got to have a material impact on profits. People will simply not have any means to pay back the debts CCP have bought, so a proportion of the purchased ledgers become worthless.
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CCP fell 95% during the GFC. What's the probability that CCP will fall 95% again (to 1.90) during this crisis?
I thought that CCP would have bounced by now and have paid for that idea.
I thought that CCP would have bounced by now and have paid for that idea.
If they fall that much I’m backing the truck up. Looks to be closing around $12 today. Absolute madness IMO. I know people factored in a decent profit growth but from $40 to $12 is 70% decline in SP. Is the company 70% less of what it was a few weeks ago? Have earnings been impacted by 70%? I may be a little biased but I’d say no and it’s either a distressed seller or people not thinking rationally.
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I don't know enough about the business of debt recovery. I'll accept that when times are difficult people aren't able or will refuse to pay their debts. This crisis will cause many many companies to the brink of bankruptcy. Many will choose to go bankrupt and restart when conditions improve.
CCP should have the experience to buy the debt books with a higher probable payback. This is unlikely to be known until after the crisis has passed and business activity starts to recover.
Like many other companies CCP may have a massive drop of revenue (creating a loss) during the crisis and must wait it out. What is the estimated price of this company if it doesn't earn anything for the next six months?
A company to consider once the crisis is over and business starts to recover.
CCP should have the experience to buy the debt books with a higher probable payback. This is unlikely to be known until after the crisis has passed and business activity starts to recover.
Like many other companies CCP may have a massive drop of revenue (creating a loss) during the crisis and must wait it out. What is the estimated price of this company if it doesn't earn anything for the next six months?
A company to consider once the crisis is over and business starts to recover.
galumay
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Good points Peter2, its probably useful to go back and see how they fared in 2007/08.
If the business can stay solvent, then 6 months on no earnings or even losses really make no difference to the long term value of the business. The question is how long does the market take to recognise that value and what sort of discount will you end up being able to buy CCP for?
If the business can stay solvent, then 6 months on no earnings or even losses really make no difference to the long term value of the business. The question is how long does the market take to recognise that value and what sort of discount will you end up being able to buy CCP for?
galumay
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EDIT - EDIT - CCP fell a lot in 2007, from about $12 to $1 - in 2008 FY they announced falls in profit of about 50%, share price had already doubled and basically continued on its steady rise all the way up to $35 12 years later.
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Current CEO, Thomas Beregi CPA, explaining the business back in Aug 2016. Sounds very clear and reasonable.
Too many imponderables for me, such as the business implications of a Plague, so I will be mindlessly resorting to a chart when contemplating a buy - which I only could if my gold stocks come in or I score the Endeavour Foundation lottery anyway - and it is not a chart buy yet
Too many imponderables for me, such as the business implications of a Plague, so I will be mindlessly resorting to a chart when contemplating a buy - which I only could if my gold stocks come in or I score the Endeavour Foundation lottery anyway - and it is not a chart buy yet
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