Agreed, was a weird result and briefing call. When the analyst...

Agreed, was a weird result and briefing call. When the analyst said he was expecting $17m revenue from mortgages next year the CFO could have handled it better rather than just saying "your numbers are different to mine" and basically implying the analyst is way too optimistic.

I think everyone was just overly bullish on RFL, both professional and retail investors. It was priced for perfection. Even if the numbers came in as everyone was 'expecting' it was still expensive and assumed perfect execution of the acquisitions, which we now know hasn't been the case. When everybody is long the SP can only go one way and management were probably aware that everyone's expectations for RFL were very high, they even hinted at that in the call.

That said I think the SP fall and all the negative talk does cover up some positives from this result. I personally know there were/are still people in RFL sitting on huge profits who were considering selling out, so I wouldn't be surprised if some of those rushed to the exits yesterday to lock in some profits. And regarding the talk surrounding contracted revenues being lower than the analysts expected I still think there needs to be some clarification on that and don't think it is as negative as some are interpreting. We'll see, may have to wait until AGM though.

I didn't hold RFL prior to the result but bought a small amount at 37.5c.