Lots of positives within this presentation including tailwinds...

Lots of positives within this presentation including tailwinds which I believe the industry in general will have post stimulus withdrawal. I would add a caveat that IMO they will need to have a good look at their PDL pricing modelling as the economy changes over that period. The one negative I read into the presentation is the indication that they will look into refinancing opportunities in the coming months (ie they are not looking at the moment). I guess it is easy for me to say they should be acting now to reduce that inhibiting 11% funding rate but it might just be that they need to show any new funding source more runs on the board and some consistency after the debacle over the last 18mos. If I was a lender I would be looking for that. CCP is gaining some traction SP wise and I suspect that PNC will too now that the NTA is rising and progress appears to be positive. However do not expect to receive dividends in the short term as the presentation has indicated that they intend to expand the PDL portfolio using internal funding and that means using profits to grow organically not to pay dividends in the short term and that is a sound decision in my view. GLTAH you have had more patience and guts than I have.