CCP Creditcorp

[winner69]

On another thread Ratkin (I think) said he had this in his stopwatch if the price was right.

A 5.03 announcement today and a profit downgrade .... a bit light on the detsil ..... ratkin might might just get his wish,

But is this just another debt collector in a long series who reach a certain size and then it all seems to go wrong ..... costs get out of control ..... ledgers get harder to collect ...... and low and behold the amortisation factors they have been using are all deemed too light and we see a large adjustement in the value of ledgers.

We'll just have to wait and see ..... but one thing Carmel will see the initial slide ain't too much

Worth while to go back on the watch list .... I see some volatility coming up here

[ratkin]

Your right Winner. Have had this on my buy list at 9.00. Never went low enough , maybe now it will.
Question will be , do i still want it?

[stephen]

Your right Winner. Have had this on my buy list at 9.00. Never went low enough , maybe now it will.
Question will be , do i still want it?

Oh, it will and it has. Ouch.

Assuming 08 NPAT of 18m we're looking at a forward PE of 15.

(Disc: still holding some CCP.)

[macduffy]

Down 42% toay and looking interesting at $6.

May have to have a nibble.

[winner69]

hey Ratkin ..... really really cheap now ..... $6 .... was nearly $13 not that long ago

Can't be true .... say the current holders

Even Carmel will be buying at this price .... even i might be tempted ..... as long as you get out before the next downgrade

[stephen]

hey Ratkin ..... really really cheap now ..... $6 .... was nearly $13 not that long ago

Can't be true .... say the current holders

Even Carmel will be buying at this price .... even i might be tempted ..... as long as you get out before the next downgrade

Can't be true? Well, it was richly priced before, so although it's a drastic drop, it's not without reason.

I sold down earlier in the year, and I bought well below this level, so I'm not too scarred by this.

[winner69]

Oh, it will and it has. Ouch.

Assuming 08 NPAT of 18m we're looking at a forward PE of 15.

(Disc: still holding some CCP.)

Stephen did say this in November but an update ---

Assuming 08NAPT of 10m (pre abnormals) we're looking at a forward PE of 6

Si is CCP a steal today?

Only time will tell

[winner69]

Bought some at 116 .... lets see what happens over the next few hours but if it goes up will ensure I make a few bob .......... or bail out pretty quick if it starts heading down from here

[winner69]

Bought some at 116 .... lets see what happens over the next few hours but if it goes up will ensure I make a few bob .......... or bail out pretty quick if it starts heading down from here

Bugger - got that one wrong - out for a small loss but wouldn't want to calculate the annual return on that trade

Try again later on in the afternoon --- must be some money here somewhere but if Fisher is getting out for good anything could happen - they'd go to 75 cents just to get rid of the rest ... no theres a thought

[winner69]

Good luck Starnger

What has happened and happening to the CCP shareprice mirrors what happened to the another high flying credit collection company in CLH

CLH couldn't do no wrong post IPO .... one year it was the highest rising stock on the ASX and then valuation problems and a series of downgrades and the share price started to slide ... and 5 years on is still trending down ....chart http://au.finance.yahoo.com/q/bc?s=CLH.AX&t=my

Same sort of business ... same hype in its infancy as a listed company .... realisation that utterly overvalued ..... shareholders desert the sinking ship .... and never return .... the company just gets on and makes 'normal' profits (not pie in the sky forecasts) .... and the the comapny is valued accordingly ... generally based on yield and nothing else

CCP could be different but I doubt it ..... seen it all before