Inter. Pers. Share Price (IPF)

The results were indeed very strong, stronger than I expected - I bought more.

The market is in a funny place right now trying to absorb the shifting dynamics around rates, inflation and lasting Covid-19 economic implications. The small high cost lenders are seen as vulnerable as their customers are theoretically more exposed to tighter household cash flow. I take a different view.

The excess savings caused by covid was market wide - hence loan books prime and sub prime shrank. Household balance sheets are stronger than normal and so we need to see a drawdown on savings to get back to more normal credit demand/issued. So it’s good news not bad. It’s why the results were better and will keep getting better.

Im in this one for the long game in size. Dividend and capital growth = 2x over time at theses levels. Stick with it. Morses Club is another good one to look at and has been impacted even more by the above sentiment.

So, results reported today looked solid. And yet, things are moving down not up. Colour me confused.

Thank you, useful to have that perspective. Feel like this is still undervalued, especially as they are now paying a divi.

buy back* (backbuy LOL)

From the way it is structured, it almost sounds like a share backbuy which generally moves the share price up. As the delisting is in Warsaw it probably isn't that clear cut but it will reduce the number of shares availible to buy and anyone holding their shares on the Warsaw stock market but wants to continue to hold, will have to rebuy on the LSE. Lastly, if the company thinks that this is a good time to make a tender offer to the Warsaw holders then maybe it sits well for the share price as companies tend to only make these actions when they feel the price is cheap, although not always!