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Thread: FXL Flexigroup

  1. #131
    Speedy Az winner69's Avatar
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    Flexigroup shafted the FPF investors in NZ

    Aussie company not needing these NZ investors anymore so all fair enough eh ...just highlights how ****ty most finance companies are anyway

    FLX share price holding up well ...a real bargain at the moment

    https://www.chrislee.co.nz/market-news
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  2. #132
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    Quote Originally Posted by winner69 View Post
    Flexigroup shafted the FPF investors in NZ

    Aussie company not needing these NZ investors anymore so all fair enough eh ...just highlights how ****ty most finance companies are anyway

    FLX share price holding up well ...a real bargain at the moment

    https://www.chrislee.co.nz/market-news
    But we wouldn't buy a ****ty finance company's shares, would we?


  3. #133
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    Quote Originally Posted by macduffy View Post
    But we wouldn't buy a ****ty finance company's shares, would we?

    Well....buying this 3 days ago was certainly unfortunate

  4. #134
    Speedy Az winner69's Avatar
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    Quote Originally Posted by JeremyALD View Post
    Well....buying this 3 days ago was certainly unfortunate
    Market obviously doesn’t like the $89m writeoffs and/or not convinced of the new digital thing.

    Non-cash this time around so all honky dory ...but was cash once eh.

    Wonder how bad debts provisioning going?
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #135
    Speedy Az winner69's Avatar
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    Quote Originally Posted by trader_jackson View Post
    Definitely makes sense, this form of funding would be expensive compared to their other funding sources (namely revolving wholesale debt facilities, asset backed securities program). I would think the synergies from acquiring F&P (although small in the context of flexi as a whole) will really start to show through this year.

    Coincidentally, the share price is at the highest point since 10th August last year and up 12% for the year so far... the start of this new found (and long awaited) turn around will hopefully be confirmed at half year, and if not in the results itself, in the outlook statements.

    The next few weeks will certainly be interesting for FlexiGroup hopefully in a good way.
    It’s all your fault share price tanking

    JT already told you off .....that’ll be enough of a spanking

    Do you think share price will go any lower?
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  6. #136
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    Quote Originally Posted by winner69 View Post
    It’s all your fault share price tanking

    JT already told you off .....that’ll be enough of a spanking

    Do you think share price will go any lower?
    I should of known better but the ridiculously low PE pulled me in.

  7. #137
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    Quote Originally Posted by winner69 View Post
    One of those GOLDEN CROSSES on the chart?

    That be very good ....and signals a return to the 240 market which has been a pretty solid level in the past

    And then double from there and back to new highs

    No worries ....it's all up from here
    Before you tell me off, I'm gonna tell you off here winner for not telling me off earlier, and, rather, joining me in implying we won't be going back down to stupidly low PE's, rather just stay at ridiculous low PE's Maybe management letting us know the bad news now before some great news come half year results, including a new card and new leasing and how much organic growth this is going to produce

  8. #138
    Speedy Az winner69's Avatar
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    The writedowns reduce FXL's book value by 24 cents

    Share price maybe reacting to that

    Companies that use defacto profit figures and do funny things with the numbers in their presentations are often judged (and valued) on one number that usually has some real meaning - its book value

    But in FXL's case this has been found to be inflated as at last June with those now 'worthless' assets

    Wished they hadn't mentioned those words 'bank convenants' though (in light of Fletchers announcment)
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  9. #139
    Speedy Az winner69's Avatar
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    Was thinking FXL was at last going 2 steps forward and then 1 step backwards but it seems to have turned around since wiping $90m off the balance sheet ...its now 1 step forward and then 2 backwards

    What's going on t_j?

    Punters getting worried about the bad debts provision not being big enough .....or concerned about all the off balance sheet stuff
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  10. #140
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    Quote Originally Posted by winner69 View Post
    Was thinking FXL was at last going 2 steps forward and then 1 step backwards but it seems to have turned around since wiping $90m off the balance sheet ...its now 1 step forward and then 2 backwards

    What's going on t_j?

    Punters getting worried about the bad debts provision not being big enough .....or concerned about all the off balance sheet stuff
    Getting the bad (or worst of the bad news maybe) out of the way before the big Feb 20th maybe?
    Things do seem to be going from bad to worse right now
    That 'bloodbath' stuff wouldn't have helped

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