I seriously question whether Lev understands the business - a review of PDL collections by vintage will show any accounting slide of hands (which I don't believe we have)...
STOP THE ROT - that has been successfully done, the ROT in PDL purchases on 16 & 17 has been turned around... We are set to see the fruits of this in FY19/20/21.
I understand Lev seems to be a man of morals, but I really question what his motives here are. Based on PDL vintage and recent increase in PDL purchases, there is no doubt that PDL revenue should increase in the next 3 years - I wonder whether he wants his guys in the seats when this occurs...
Again I am really struggling to see Lev's understanding of the business in this report... For someone who spruiks shareholder value and then in the next sentence makes reference to SP advances (???) in ANO a company that is a micro cap that just had to complete ANOTHER capital raising... Since 2011 ANO has increase the share registry from 25M to 56M shares (a whopping 60% dilution), plus 1 more 1 for 30 raising - they also only have revenue of 6M/yr - simply not a company you can compare CLH with... Though one thing is clear - at ANO this guy significantly reduced the cost of overhead - so sure this is great, but still no comparison...
This is disappointing...
CLH Price at posting:
$1.34 Sentiment: Buy Disclosure: Held
