Member Info for FrankyS1971

Is Sunset ok?? why is he so quiet?? helloooo??

I don t qet that cos you can find lots of decisions from ombudsman online where Amgo have said "we disagree" have you read any? The checks and customer care was not aligned with heightened vulnerability of customers. This is why 90% get upheld. Will post after my golf again as there is a fat positive about the above! In essence FCA is using Principles and Ethics not law to resolve many disputes. This is the overreach JB states.

Don t know if there ar any shorters of significance. What i believe is this. The MMs to shift this much volume need to do 2 things. They can either keep the price down and attractively low so demand meets the high supply line. But when that isnt enough to move the stock you can create a bounce in the SP and shake the bushes to bring out .ore buyers. We have seen both the last 2 weeks. This week they are shifting all stock at 8p so clearly a decent sign that many buyers see this as value and aren t drying up. Hence no need to turn the tap off sit on stock and create a junp.

He started his role on 1st august.he s not a miracle worker. Needs a few weeks.

Whatevee happens to sp with JB gaming is anyones guess
Don t be surprised if little happens. The only thing that makes this truly move is a conclusive end in sight to complaint numbers and crucially the FCA investigation not damning us to hell. Thats pretty obvious. Until then all this energy and guessing about daily SP movements that may happen seems wasted energy. In a nutty shell demand needs to be created not through the cheap valuation but through significant progress.

money is never simply gifted to retail investors. That people on the board sre talking about selling up is a very healthy sign that a shake out of weak holders is inevitable. Fully expect to see a slow drift and no news before a random pop when hope after hope evaporates. Thats how it works most times.

I think thats way too negative. We ll know whats happening by mid september or at extreme october when FCA deadline to clear up complaints lands. Its bound to be quiet as this could go either way and will be kept under wraps.

Hows that a serious question D^_head??? You know full well GC has invested a significant amount of his money into this whilst he could and that JB wants to reinvest when able aka under 10% holding. Don t ask dumba^^ questions under pretence.

How long does everyone think an FCA investigation will take here? To me it feels like a "possibly months answer"! For them to determine whether we are systemically at fault for our practices or not. I read through x4 30 page long decisions by the Ombudsman and they all found in favour of the claimant largely owing to the same theme again and again. AMIGO did not conduct business, in line with the vulnerabilities of the client. When you deal with vulnerable folk, who are in a sH7t state financially, everything has to go up another gear to meet the rules. JB banging on about one rule for us and one rule for OD's and credit cards is actually rubbish. They are not the same. Folks coming to Amigo can't get an overdraft or a credit card and are most certainly way more "vulnerable" than the other types of borrowers. I am very surprised that JBs tweets are in denial of this. That said, I don't feel the FCA should have allowed the business model at all, if they now have such a problem with it. It seems all you need to do is whinge about your mental health and how hard the situation is and they ll come down on the claimants side!! The truth is going to be somewhere inbetween which is why this will take time and is a massive challenge for the newly forming board. I do think they ll get there with some major fines and compensation and a new business model to build from and this is a great gamble at 8p! I just don't share everyone's optimism about a rapid resolution with the FCA who could decide to see us fail. The quality of the Board and collective belief will give us a very good fighting chance.

I would ask board members to do a search on google for amigo complaints ombudsman. There you will see various cases that the ombudsman is upholding and given 90% are upheld in either customers or guarantors favour its worth understanding what Amigo faces. This aint going to be straightforward. My concern is that the samw theme runs through many complaints so the outcomes will also be the same. Amigo won t get the FCA to rewrite the rules so ...have read and comments very much encouraged!!

P.S doesn t mean SP won t jump for absolutely no reason in the meantime-)!

You should likely sell if you think anyone here has the answer and its keeping you up at night. Big risk big return with an uncertain journey ahead. Sounds like you re close to 40% down. Thats one RNS back to 10p+ . Mark1973 amd i disagree on timings as he thinks that news is imminent and I think that it ll be Spetember at best as deadline for clearing complaints is October. They re going to keep very quiet until they have clarity.

I stumbled across the FCA definition of a complaint. Its sooo longwinded but essentially its not just if you think you ve suffered financial loss it includes mental distress of amy kind. So if you ve been asked to pay and you re late then thats distressful and you re being encouraged to complain. It doesn t matter if there are legitimate grounds or not the business still has to spend resources to investigate and report it . Absolute lot of crock half of these will prove to be. Jb says its "overreach" by FCA and i bet there s truth in that!

I have done some analysis and discovered something very interesting and factual which might help..
Sunset is a sad Turd.

I'm seeing 8.5p COP

We know that rules will be tighter, and that more complaints will be landing. What we don't know is how many more complaints, and how much tighter the restrictions. These two elements are intertwined as the tighter the rules the more compensation will have to be dished out and this is where GC comes in as he will be negotiating an agreement with the FCA right now. If they can't agree then we have a JR fall back. I'd be staggered if that were needed. I see a JR as creating a cliff edge binary outcome its upheld and we take off or its not and we fold. This would take months and see us bumping along in single digits. We really need GC and FCA to find a middle ground here. Until the complaints slow and FCA has confidence that Amigo is settling them fairly and expediently, that negotation may not happen as its not the priority. The detriment to consumers is! That's why nowt much will happen until closer to October deadline IMO.

oh...thanks for that idea.. i ll go look.

you ll be alright but just a bit of a longer wait. 30p by end of year still sees a 30% return which anyone would kill for. (Please make it Sunset lol)

I hope. I abandoned my beloved gold and silver position 3 weeks ago and missed another leg up for this!!-)) fun and games. I can always become a rentboy like Sunset.

No I'd hate every flippin second of it TH. Have got 43K and am 15% down. Got balls on chopping block like a few others. I guess I am just preparing myself mentally for any slide in the SP if that happens via day to day trading with no RNS to take it there. If an RNS came out and it was negative and we halved in price then naturally that would feel seriously painful but I am suspecting we will see green shoots and the basis of a turnaround more likely. Until then I am going to ignore the SP drift down and ignore absolute fools like Sunset who will go very quiet as soon as we hit the speed pedal on this.