CCP - Credit Corp Group

[blaze87]

The company predicts 6mil to 6.2mil ..only 3 or 4 days before the reports out..HOW MUCH ERROR CAN THERE BE?????mr buffet?
P.S Thanks for the down ramp (you may now enter)

everyone has their own investment stra....
most people would want clarify and credibility in the shares they own
personally to me, ccp might look value, but the word "cigar end" comes into mind

 

[ROE]

Bring it on, shot it down to 30 cents .. I buy 10% stake and buy myself a seat on the board then I turn it around

I'm getting some more now ... bring on FEAR

 

[Pager]

Also from Clime today....

"After our meeting with management, we have no confidence in their full year guidance. As such, we are not able to asses the intrinsic value of Credit Corps shares. The company's valuation has dropped significantly over the past three months from around $10.00 in October. Whether or not this business is investment grade will be considered post the half year result release on Thursday."

See what happens tomorrow.
I wiil wait for Clime to make a call and bail out if they bail out.

AL

Not too long ago when CCP fell to about $5, clime had how many meetings with this company ???????????????, you would have thought they would have been going through everything with a fine tooth comb ??????, but they came out and said they were happy to hold, had confidence in the management of the company etc etc..........................

Now clime come out with the above statement, hardly inspires confidence to invest in clime does it, to put it bluntly they are saying we know fu#k all

I bought 1000 CCP at 99 cents so its a small punt they can turn things around, will give them plenty of time but its always going to be a punt.

As for Clime, after this i wouldn't touch them with a barge pole, if they bailed and said we got it wrong when CCP fell to $5 then fair enough, every fund gets it wrong at times.

 

[ROE]

Clime is not even a majority share holder what are you worry about.
They just some small fund thinking they can match Buffett Style return
CCP has dealt credibility blow to them and their own business maybe shaking as well as CCP.

 

[Snakey]

Not too long ago when CCP fell to about $5, clime had how many meetings with this company ???????????????, you would have thought they would have been going through everything with a fine tooth comb ??????, but they came out and said they were happy to hold, had confidence in the management of the company etc etc..........................

Now clime come out with the above statement, hardly inspires confidence to invest in clime does it, to put it bluntly they are saying we know fu#k all

I bought 1000 CCP at 99 cents so its a small punt they can turn things around, will give them plenty of time but its always going to be a punt.

As for Clime, after this i wouldn't touch them with a barge pole, if they bailed and said we got it wrong when CCP fell to $5 then fair enough, every fund gets it wrong at times.

agree with you
for me the market cap is currently less than half my discounted value of the share IMO hence i got mt last fill at 83.5 and thats me done..pockets are empty. will wait to see what happens tomorrow good luck holders and punters
and may the rediculusly high percentages be in your favour tomorrow

 

[ROE]

I'm out of cash and CCP is my biggest purchase ever.

This will make me or break me that how confident I am....

It wont bankrupt me it just take away all my profit

 

[TheRage]

I have finally jumped in at 0.88. I guess tommorrow will tell. Let's hope management come out and tell the truth and start to fix this sinking boat.

 

[annalivia]

OK.
I blame all you people here but I have bought some more.
If I am wrong I think I might have to become a chartist.

Interesting day tommorrow.

 

[AKE]

I See Geoff Lucus of CCP has disposed of 235000 FPO CCP on the 11/2/08 because of a margin lending arrangement! CCP has been a costly exercise, lets hope I learn from the experience.

 

[blinkau]

I remember going to the ASX Investor Hour when Roger presented in Brisbane was either 06 or 07 can't remember. He was a good presenter and spoke a fair bit about CCP how he purchased a large parcel around $4 only to watch the price fall back, then he went on to show us the rest of the chart as it topped $10 and wait for all the shocked looks from the audience. My impression was he seemed to think of Clime as the next Berkshire Hathaway. Just a bit of history there!

Either way he put on a good presentation and I am sure he has made a mistake as we all have when investing in shares. I think they may re-think diversification now it would have certainly lessened the blow.

I was keen on entering at $4 after watching it after the speech the last year or so however recall reading a post in the CCP thread bad news comes in threes so I held off oh plus I was more interested in losing money on CTX!

It will be interesting to see where this ends up thinking of putting an order in around $0.50 to see if it gets filled. I read a research report the day after the news came out which signaled a possibility of another downgrade but that would seem unlikely so close to reporting?

 

[dhukka]

Not too long ago when CCP fell to about $5, clime had how many meetings with this company ???????????????, you would have thought they would have been going through everything with a fine tooth comb ??????, but they came out and said they were happy to hold, had confidence in the management of the company etc etc..........................

Now clime come out with the above statement, hardly inspires confidence to invest in clime does it, to put it bluntly they are saying we know fu#k all

I bought 1000 CCP at 99 cents so its a small punt they can turn things around, will give them plenty of time but its always going to be a punt.

As for Clime, after this i wouldn't touch them with a barge pole, if they bailed and said we got it wrong when CCP fell to $5 then fair enough, every fund gets it wrong at times.

I agree with most of this. In their emails Clime seems to me, to be passing the buck a little, claiming that management led them up the garden path and therefore it isn't their (Clime's) fault. Clime needs to take more responsibility for their actions. As stated earlier I believe they didn't fully understand this business and I think a lot of people will have rightfully lost faith in them.

That said, I still believe in Climes investment and valuation approach. I think the flaw was not in the approach but the application of the approach. They simply didn't really understand the business they were investing in.

 

[3MT]

Is anyone here seriously picking up CCP for the long term?

If management have lost navigation of its business numbers/processes within (2 quick downgrades) and are not too open about % margins, then would you have confidence investing in the company long term? Perhaps if new blood and a proper strategic is done, but that will take time.

I can't help but think its good value ($12 to 88c) but I'm not basing this on solid fundamentals (are those NTA, Debt figures believable?), but on the theory that the market is irrationally gripped in fear at the moment.

 

[annalivia]

I will hand over to Mr Buffett............


"In fact, the true investor welcomes volatility. Ben Graham explained why in Chapter 8 of The Intelligent Investor. There he introduced "Mr. Market," an obliging fellow who shows up every day to either buy from you or sell to you, whichever you wish. The more manic-depressive this chap is, the greater the opportunities available to the investor. That's true because a wildly fluctuating market means that irrationally low prices will periodically be attached to solid businesses. It is impossible to see how the availability of such prices can be thought of as increasing the hazards for an investor who is totally free to either ignore the market or exploit its folly." -1993 Shareholders Letter


Solid business? Probably not.
However IMHO "Mr Market" is in one of his depressive moods.

 

[Pager]

Profit after tax is down 33%, dividend of 2 cents FF, down but not out.

Be intersting to see what happens when it opens today, down from over $10 to 90 cents seems very harsh.

fingers crossed

 

[Snakey]

Also from Clime today....

"After our meeting with management, we have no confidence in their full year guidance. As such, we are not able to asses the intrinsic value of Credit Corps shares. The companys valuation has dropped significantly over the past three months from around $10.00 in October. Wether or not this business is investment grade will be considered post the half year result release on Thursday."

See what happens tommorrow.
I wiil wait for Clime to make a call and bail out if they bail out.

AL

morning all
Its interesting that clime would say this about a share that they hold. I try to think why they would say that. few reasons come to mind-
1. dirty from being so burnt(very unprofessional and was not thinking clearly at the time)
2. downramping for further accumulation to buy themselves out of trouble
3. their honest opinion

Anyway... fasten your seat belts, keep your hands inside the cage at all times try not to scream to loud as this ride is about to begin

 

[blaze87]

a quick question to those who studied accounting,
where would the restructing cost be in their annual report and under which heading? i thought it was supposed to be charged under a "one-off charge/writedown" but can't find it on their half-yr info..
thanks

 

[dhukka]

a quick question to those who studied accounting,
where would the restructing cost be in their annual report and under which heading? i thought it was supposed to be charged under a "one-off charge/writedown" but can't find it on their half-yr info..
thanks

Blaze,

You won't see the restructuring charge in the half year report. Those decisions were taken after the Dec 31st balance date. It should show up in the Full Year report.

 

[Snakey]

a quick question to those who studied accounting,
where would the restructing cost be in their annual report and under which heading? i thought it was supposed to be charged under a "one-off charge/writedown" but can't find it on their half-yr info..
thanks

restucture is in the next half of the year not the previous
The reports appear to be as expected and i think that now we will see an overall recovery in the share price over the five days.

 

[blaze87]

oh, ok thanks
so that means the company expects to earn another 4-6million for Npat for first half of 2008? in other words, most of the second half profits will be mostly consumed by the restructing cost of 3.5 million?

 

[TheRage]

At least NPAT for half year was above 6 million. If this fell since the disclosure it would have been good night nurse. Interim dividend of 2cents represents 15% payout ratio on earnings of 13cents. Wonder why they are retaining some much of earnings when in the past payout ratio has consistently been 50%.