That's a terrific comment. It's a tough business that CCP are in. If you're nearing retirement or are retired, you're basically gambling on a company who buys debt (who have their own gearing issues right now I might add) and then hope that they can retrieve that debt over and above what they paid for the debt. And who's to say that this wont get any worse before it gets any better and for how long - especially in the U.S.? There were some red flags in that presentation and I'm not referring to the obvious pre-announced impairment. Credit Corp, good business...horrible sector.
CCP Price at posting:
$17.21 Sentiment: None Disclosure: Held
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