Ann: Pioneer tests new market segment, page-6

Depends how you look at it I suppose. Certainly not pre-screened customers with longer term, higher account balance liquidation profiles. These will be smaller faster inventory turnover profiles.

Same principals apply.... understand the expected collection profiles and ensure the value paid is at the good end of value spectrum with sufficient buffer.

The initial contact will chew up cost and these are smaller accounts so the equation has gotta work to be value accretive. I have no doubt management will test the waters, learn fast and adapt. Potential for profitable growth if done correctly.

If I had free capital I would have been interested in a toe back in the water with PNC the last couple of weeks.

Companies with a favourable exposure to strengthening USD have been a higher target for me the last 9 months but in the low 70s/high 60's the historical norms start getting stretched so I'll look for opportunities to switch in coming months to capture longer term mean reversion. Perhaps a touch early yet but if it does in the right timeframe I'll be keen to see where PNCs trading at the time