off the radar opportunity

The sinking of FXL's share price on low volumes has presented a good opportunity to accumulate this excellent company that has been operating over 20 years.

In a former life I was shareholder in a competing business that we were lucky enough to sell pre GFC for a more than fair price. Flexirent was and is the most respected operator in the rental industry.

The GFC has basically destroyed many of Flexirent's competitors as they are starved of funding which gives them an opportunity to grow volumes.

Because Bank's are not proving business finance many premium clients are now dealing with someone like Flexirent.

The business rental model is not well understood in the market - it has a very strong recession proof element. In tough times business / consumers will extend their rental agreements beyond the initial term which is pure profit (or inertia income) for Flexirent. This more than covers increased bad debt.

The other element raised in Flexi's presentations is that they often finance mission critical IT equipment and the like. These items are the last things that will be defaulted on (the porsche can go first!).

I have been an active accumulator between $1.20 to $1.25. In uncertain times this is a rock solid business,