HUMM $1.5 party, page-190

Once they don’t feel the economy warrants the provisions it gets reversed in the accounts so they make an extra big profit. What happens with the profit depends on what use they see for the money.....

I can’t see things normalising for awhile - too many businesses still on jobkeeper to have any real idea and that doesn’t end until March. The banks have said mid next year could be the real low point in the economy, from an impairment viewpoint.

Europe and the USA are in a bad way with Covid but hopefully a vaccine will help, although once again we are going to be well into next year before that can be administered - and that’s without the nutters refusing to take it.

FXL is a cautious company - they have plans I am sure but would be stupid to share them with the retail investors like us and alert their competitors. Anyone expecting giant returns out of Flexi is in the wrong company. As a retiree I like steady cautious companies, as it suits my risk profile and of course the dividend was an attraction. However it’s not for everyone - people need to do their research and select companies that meet their goals.