through all of this I’ve maintained that quality advice businesses like ifl fid and the advice part of Cgf will eventually prosper at the expense of the banks and amp. I should have predicted the share price pressures resulting from the uncertainty but lesson learned. I think the current valuations already are factoring in significant earnings deterioration but I think the markets uncertainty is resulting in mis pricing/opportunity. We are all uncertain but a lot of market participants particularly fund managers aren’t able to be ‘gambling’ on this known uncertainty, as if it backfires they’ll be heavily criticised as you could imagine and their jobs and therefore livelihoods are on the line, whereas for me it’s just capital.
IFL Price at posting:
$6.49 Sentiment: Buy Disclosure: Held
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