Saturday, Aug 31, 2019

You can give money away, the only problem is you may not get it back

Standard: Market report: Investors say adios Amigo and lender goes plunging by 34%

Snippets from the article
1) The FTSE 250 firm allows people with poor credit ratings to borrow by using a guarantor
2) Today Amigo, under new boss Hamish Patton, said its impairment rates are growing and its loan book isn’t
Does it not sound like the same as 2008 crises? You can give money away for people to buy houses, holidays, cars etc. The problem comes when they can't pay you back.
Looking at the signs, around the world, it feels like to coming to a head again.

Posted by deepak @ 02:25 PM (658 views)
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1 Comment

1. landofconfusion said...

I'm not sure what to read into this. On one hand a company which should be able to assess & price risk has taken a hit but on the other it's just a single Lendy, operating at the extremes of the market and it hasn't gone bust.

Before I'd draw any conclusions I'd need to see others with similar models running into problems and perhaps some data showing lending slowing & defaults rising.

Wednesday, September 11, 2019 02:17PM Report Comment
 

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