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Tdaves
Hi.
I don't know if you have managed to see the recent interview with Gary Jennison.
Hey states for the record:
"We do absolutely everything properly, I am convinced that anybody who says we don't do proper affordability, Is saying that because they don't know what we do and how we do it"
https://www.youtube.com/watch?v=ANalZ4nEVjc&feature=emb_logo
The 2nd guarantor could be an option to vastly improve Prudent lending.
Although I appreciate your personal experience with a guarantor, however I suspect the vast majority of people will find it easier to find 2 guarantor's willing to mitigate their risk by 50%!
TwistyMinkle
Re: Optional 2nd Guarantor Concept
I would not be so forthright to contact them directly as I have no prior relationship with the board.
I do recall that others have been in email contact with them & quite happy if any of you could at least put forward the suggestion?
After all, our hard earned cash is involved and anything that can secure Prudent Lending will certainly secure our investment, guarantee over 400 people keep their jobs & so many more people have access to finance that otherwise might not be available to them.
I am not solely interested in personal gain, this has the potential to help everyone.
FrankyS1971
Absolutely.
Prudent lending is Paramount.
I could not agree more on moving forward with increased security.
I really hope they consider taking a 2nd guarantor to solve this issue...
Yes you would have to run 2 credit checks on the guarantors costing a few quid each but this solves many issues:
1. If the loanee defaults they have 2 people from separate addresses meeting with them to address financial concerns.
2. If the loanee absolutely can not pay due to a change in circumstances it will be agreed between those 3 parties.
3. Should the guarantor's be left with the debt they only have 50% each as a burden.
I think this one simple mechanism that has been used by property landlords with a lending system validated and stress tested .
I suspect any default outcome matrixes could prove that this simple extra layer could save the company Millions.
Ps. If Amigo Board is watching I would appreciate any recognition or PM for my ideas. You said you want to interact more! lol
TwistyMinkle
For what its worth
In my experience of Corporate Operations.
A Baptism Of Fire for 405 staff members is not a good idea.
A chaotic period on the 3 weeks before Christmas ought to be achieved with the employees in mind.
Christmas items are already appearing in the shops.
The momentum is already building...
FrankyS1971
Thank you for your candour.
Given the expected volumes of enquiries on the approach to Christmas I would imagine that these 3 weeks from December the 1st that you mention will be non stop enquiries and extremely chaotic.
Given the logistics of up to 405 staff at Amigo getting back to lending I would think they would need at least 2 weeks to warm up and get get back in the swing of things.
I personally, really feel that Gary should give the staff a few weeks to adjust.
I am sure they have been through enough this year like the rest of us without a "Baptism Of Fire" 3 weeks before Christmas!
priv
Good morning
You mention that Gary "has mastered balancing time and using it with precision".
Just for a bit of light heartedness.
When would you speculate he will release the Re Lending RNS (Given your experience with CEO's)
Do you think he is aware of how perfect all the technicals appear to be lining up?
Now would be the perfect precision time for a great RNS?
seamus12
Good Morning.
Interesting that the Wall Street article quoting fair value at 93p only yesterday is indicating that this was covered by 6 analysts.
Any ideas how they come up with 93p?
https://simplywall.st/stocks/gb/diversified-financials/lse-amgo/amigo-holdings-shares/news/if-you-had-bought-amigo-holdings-lonamgo-shares-a-year-ago-you-would-be-down-88/
https://simplywall.st/stocks/gb/diversified-financials/lse-amgo/amigo-holdings-shares?blueprint=1370486&utm_medium=finance_user&utm_campaign=cta&utm_source=post
JudgeJed
Good morning
You are bang on target.
A good or bad RNS will have much more impact.
Sadly none so far today.
However the fundamental & technicals are also part of the overall picture.
Hopefully we are looking at a trend reversal soon.
Or like myself simply find interesting
Outstanding Sir.
So the technicals all looking good:
Intraday: Consolidation
Daily: Check (Dragon Fly Doji)
2 Day: Check (Bullish Harmani)
9 Days:Check (Downtrend required For Bullish Harmani)
Weekly: Check (Triple Bullish Divergence)
Thats quite a few positive indicators on different tie frames.
Like a "Fractal" of indicators forming together.
A great RNS will certainly stick a rocket up this share price! lol
GJ- Over to you.
Light the match please sir...
Greatcrestednewt
Can I ask?
I can see the consolidation pattern.
On the daily chart since the 13th of October there does appear to have been a downtrend which appears to have been consolidating over the last 3 days.
Is it my imagination but has the last 2 days also formed a bullish Harami with a Dragon Fly Doji Today?
I understand completely what your saying, a Great RNS can't beat the technicals.
But a Great RNS "PLUS" great technicals could be what we have all been waiting for.
Greatcrestednewt
I keep having to re learn these technical indicators as there are so many to remember.
Not something I trade with, but I find the subject fascinating.
What are your thoughts that the volume is shrinking & the SP consolidating?
It feels like for the last 3 days, all the day traders have been shook away, leaving just the rest of us?
I know there has already been a lot of speculation today ranging from Level 2 Icebergs to Claims figures.
Just wondered if anyone had any thoughts on the technical indicators.
Am I right in thinking todays trading formed a Dragon Fly Doji?
https://www.youtube.com/watch?v=dWkSRpkU_Os
Any thoughts?
Seamus
In my mind it is really quite simple:
For The People : Will people have more opportunities during the recovery if they have access to finance or not?
Owned by The people: Will over 400 employees and 100,000's of the public (Us Retail Investors) be better off if Amigo Succeeds?
And to me the answer on both counts is a resounding YES.
No motive other than wishing everyone better days.
Its been a tough year for everyone...
seamus12
I do understand any cynicism, that is a sign of wisdom on a public forum.
However, I really do believe my mantra.
Amigo Is a company:
For The People
Owned By The People
I can not understand why anyone would want to see over 400 staff loose their jobs and potentially 100's of thousands of investors hard earned cash destroyed.
That will cause a lot of pain & suffering.
Only a sociopath would wish this.
I simply look forward to a Great Turnaround and any proactive discussions.
And with Gary Jennison at the helm, I have a gut feeling we are in the right hands.
A lot of people are depending on this...
Seamus12
Thats very flattering and quite ironic, not that I am a qualified psychological profiler, but I had you penciled in as a member of the board too!
PM me if so, I have the utmost discretion in those circumstances?
I know I am fairly new on the board but have been following for much longer.
I am just acting as Retail Investor who really wants this to turnaround, not just for the 400 + staff, but the possible 100's of thousands of retail investors (Like me) now involved.
I really feel really this company has the potential to be a force for good and a way out for many during the Pandemic recovery.
Amigo Is now a Company
For The People
By The People
Exciting times...
FrankyS1971
More to the point.
The Retail Investors involved now must be in the 10's if not 100's of thousands of foot soldiers! lol
"Big Business & The Government Are On The Attack"
"You Wanna be a part of this Frank?"
"A Part Of History?"
"Whatever you need me to do, I'm Available!"
Franky
I could not agree more.
Having watched the Interview with Gary.
My instinct is that the FCA (Often portrayed as the bad guys) are actually working hand in hand with amigo to execute this turnaround and to commence lending "In Short Order".