Joe Gambler
I was able to read that 2 March 2018 Eureka report this morning, because an automatic email arrived today that had tags to change my password. However, the link I pasted into HC came up with a link to HC that stated, Ooops etc. Googling "Alan Kohler Beregi" found the original link, and it worked. HC may effect posted links via a 2-stage process so they can profile subscribers. I often wonder why when I am on HC there seems to be a high degree of activity going on in the background that causes the internal disk to make a noise.
Until relatively recently I found it difficult to understand how CCP and similar firms did their PDL amortisation under the fair-value model, because their explanations, although correct, were written in terse financial argot that I failed to understand 100%. From reading posts here, at CLH and PNC, I realised that I was not the only one trying to figure out the process, and how it reconciled to the old amortisation model, where one used an analytics-based expected percentage of collections to create an amortisation percentage of collections, and fiddled values via adjustments occasionally to reflect significant variations to reality. In essence, the end result can be, and should be, the same using either accounting model, just as calculating PER is either, Capital Value divided by NPAT, or Share Price divided by EPS. I'll post what I wrote last night on this matter, after I have reread what I wrote in the light of a fresh day.
I wonder if the stickiness of the SP in the $18-$19 range is because folk, me included, who originally had not planned to buy CCP, had the decision thrust upon them by the $12-50 price, and they are now tempted to skip out with a 50% capital gain. As a long-term holder, I am not all that fussed about that wash-out effect, as long as CCP does not get into the habit of repeated CRs, and hence repeated share dilution and repeated wash-out stints. For that reason, I would support Management shifting to a lower payout ratio to internally fund expansion if they see a rosy path ahead.
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