I have often mentioned that CCP does the opposite of what some other PDL buyers do - don't call them peers, because CCP is peerless. Understating performance and saying very little could be seen as the opposite to window dressing, which for these misnamed "peers" could be described as finding ways to book
revenues earlyr.
Now that CCP has acquired the CLH, I'll not bother with them. But why has PNC in past years tended to window dress, which could be disputed, but that is how I saw it. If PNC did window dress, the only reasons that I can think of would be to boost management remuneration via dysfunctional incentive schemes (unlikely in my view), or to raise funds from both lenders and investors. If in a CR, significant holders were not to subscribe to new shares sufficiently to keep their relative share of the stock, they would effectively have sold down their holdings, and avoided having to report that.
This is not the venue to focus attention on what PNC and CLH did, but I take great comfort in the fact that CCPs Management are more inclined to window shuttering than window dressing. Posters like Spider5 and JoeGambler may have experienced the negative aspects of window dressing.
I tend to post a sentiment that reflects what I am doing, so having purchased more CCP in the recent dip, I had a "buy" sentiment, but I changed it back to "hold" now that I have no plans to increase my CCP holding.
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