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Madtrader

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02/06/18

19:17

Post #: 33453853
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Originally posted by JoeGambler ↑

Thanks for the input Madtrader.

Only thing I would say is, could you please paragraph a bit more...

In terms of the guidance on gross loan book for FY18 the market cap isn't far above that. Are you calculating price to book on the net loan book after provisions?

I think the SACC exit might and the subsequent ramp up of Auto lending might lead to a pause in EPS growth in FY19. Particularily since the options dillution.

I think you're right on the risks in terms of no track record with a large downturn, or a large loan book for that matter.

However, lots of positive catalysts for multiple expansion. Such as, cheaper funding, SACC exit reducing that stigma on the stock, and of course every half of solid results adding market confidence in the company.

The regulations are aimed at SACC lending which MNY is exiting in FY19. In any event the MNY is below intetest rate caps. Worth digging up the propsed changes mind you. Though I doubt any rapid change under current government. A labor government would accelerate that next year mind you.

As long as Aus does not experience a downturn during this ramp up phase in next couple years, it's still cheap.

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Of course, I will endeavour to hit return a few more times next time. Price to book was simply referring to NTA. Re regulation I was referring to commentary not so long ago about issues identified in the auto lending space that could trigger that, not SACC.

MNY Price at posting: $1.99 Sentiment: Hold Disclosure: Held
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Of course, I will endeavour to hit return a few more times next...

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