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was answer to a Q on FY results
Different standards apply to different jurisdictions Senator. For example the UAE is a hub for financial advice and yet the advisors are unregulated and don't need qualifications. Scary but true. If you do screw someone over you'll end up in prison or with a fine that will sink you and still land you in prison lol. Take the US as well. Depending on which main party is in office the regulatory environments tighten and then slacken regularly. There hasn't been a new MIFID Directive for example since Trump got in. I disagree that a foreign regulator will look at this with a "well if its not good enough for the FCA its not good enough for us " lens..."beyond ridiculous" is well beyond ridiculous to take a view as extreme as that IMO.
Put yourself in the position of a regulator outside the UK and an application to lend in your market arrives from Amigo or some sister company. It wont take long to build a file full of noise and statements from JB that he is going somewhere "easier". Would you approve the application? or maybe less personally out of 10 regulators how many do you think will approve a foreign upstart, with a media savvy CEO who thinks your regulation is more favourable than the UK? As a regulator what possible upside is there for me? Why would I do it? His whole plan is beyond ridiculous.
The model seems to be to lend aggressively, get what you can back in - milk the business and then give back what is left in compensation. This is without doubt something the FCA has unwittingly facilitated!!!!!
Hello Senator - I agree somewhat. I think what you have is two different looking businesses, one currently which will be smaller and slower to grow under tight UK regulation and another with no or little UK business whilst a JD is undertaken and then an even slower build into overseas, less regulated markets (like the UAE for example). JB's route can doubtless work but we're looking 2-3 years not 2-3 months. And I agree the FCA will dig in, however this doesn't mean they would automatically be found without fault, so you would eventually find compromises. Lots of volatility if JB wins. What still beggars belief is how Hamish Patton hasn't been drummed out of the market! CEO of Bright House in Administration. Pretty much driven Amigo on to the rocks as well...much of what JB says is factually spot on about the FCA and its relationship with folks that don't rock the boat!
That's why I love the Peloton, Unlike investing risk free :)
Something lovely to look at with live leader board to compete against
I was a little sceptical when the wife ordered it late last year but in hindsight I love it and wish I'd invested in them lol
100% agree, if he went down the twitter route, JB would win that one for sure.
not sure what they will do. Was listening to Philip Browne the other day and he was saying the IRFU has a very serious cashflow problem which probably the result of their expenditure on the WC which they were hoping to recoup. I do love being on the bike but the danger does worry me as almost every ride I have to shout at some idiot driving under their own rules
Senator - Very well structured and informative posts, I also hope GC remains in a prominent role, his relative silence is seen as a sign of dignity in my eyes.
lol
I wonder if they'll bother finishing the 6 nations or just start a new one ?
Squash is my game now but obviously not for the last few months
I'm making do with the Peloton we got at xmas
your welcome, i never doubted it. Once rugby bites you are hooked for a lifetime. I play tennis now and do triathlons but its not the same. I miss being hit by a tighthead (not really)!
The best way to short a share is do your homework, understand it better than anyone and be in a fight against retail. Talk without substance get you nowhere.
Thanks Senator
FYI, It's still Rugby :)
If JB loses they have a fighting chance, the bigger amount he loses by, the bigger the positive sp reaction. The FCA dont like Amigo and are clearly out to get them. With JB in charge their job is easy as he will fight them but they will beat him on detail. This is stupid fight from a business perspective. Amigo has shown there is a need, 220K customers, the debate with the FCA should be agreeing a process to serve this need, that is in everyones interest. They get this and some sort of deal with RBC and then the foundations are there to build. Running away and building somewhere easier just will not work, not a hope in hell.
So, In your view if JB doesn't win, Amigo can start to repair and moving forward should be able to turn things around ?
I don't see the FCA wanting Amigo to go under as they will want sub prime lending as a service and the claims wouldn't get paid out
GC is a very wealthy man in his own right. Right now he is proposed as the boss, he wont go back to reporting to JB as he will KNOW his plans are hopeless and a total waste of time and effort and ruin his remaining reputation with the FCA and any institutions that are shareholders.
A JB win would result in more Board resignations. The best way to gain from shorting a share is to put a positive spin on the worst possible outcome and to push this view point incessantly. Check the number of posts that certain individuals are doing and you will see quite a lot that are only posting here, one individual was averaging 25 posts a day for 30 days! I'm hoping that JB does not return and the Board can move on with rebuilding the company and repairing the damage done.
Senator
You've changed
That was none condescending post and to be honest I agree with.
But surely JB would have this covered ? What if JB won and GC stayed ?
None of the institutions will vote for him, thats a ceratainty nor will anyone who understands the true position of Amigo. Howver most of JB sells went to retail accounts who think they are going to make easy money if they vote for JB's vision. BIG MISTAKE
JB wins, FD and GC go and the others proposed to the subsidiary Board (Amigo Loans) won't accept with a loose cannon running things from plc position. They wont risk their reputations and will know his plans dont work. You will never see 20p as the few remaining institutions plus GC will sell out. It will be total chaos and when all Board go it will be followed by RBC and then its over as all the cash on the £300m loans they are financing go permanently to them. I also believe that if the loans in their pool register a complaint RBC can request it is bought out of the pool putting an intolerable strain on the cashflow of the remainder of AMIGO. I can understand a vote for JB if you are short, if you are long it makes no economic sense whatsoever. You get a clear ex that JB is not a details man as Amigo note in the meeting papers that the resolutions proposed were invalidly proposed but they allowed them to be part of the Board agenda in any event to be fair to shareholders.