deal rejection, page-78

I have put nearly 1/2 million into this woofie. $448,500 to be exact. Sitting on a pretty major loss at the moment as my average is $1.30, but I still see a fairly good prospect of making a bit of money in a year or so after the deal. Needs the commercial side to be valued properly and Latitude, with the added Humm division, to be moderately successful. I don’t know why it shouldn’t be. If Humm’s BNPL and cards have potential why shouldn’t that potential be realised under Latitude together with the rest of Latitude’s business.

I wasn’t happy when the first rumours of AA taking it private surfaced, but you can’t let emotion take over in investing. None of the Consumer financing businesses are doing well at the moment, but after some more rationalisation in the industry, probably more regulation, those businesses that are profitable and performing will do OK.