Rightly or wrongly, I thought that when CCP invested heavily in US PDLs, it paid a premium price for them to secure its seat at the buying table of the large credit providers. Even if that were true, things panned out worse than expected, some of it pure happenstance, some of it avoidable (mainly not having the collecting capacity to service the PDLs, the problem that nearly sent CCP to the wall in Australia many years ago when Mr Beregi had only recently joined CCP. That under his watch, it occurred again, surprised me. However, this-seat-at-the-buying-table story was just a concoction.
Another concoction of my imaginative mind is that CCP should do What Washington H Soul Patinnson (now Soul Patts, SOL) did years ago. That is, break away from its speciality (running a chain of chemists), and invest in a portfolio of significantly different businesses – in effect, becoming a listed investment company that is now in the ASX Top 100, with a market capital over 12 thousand million dollars.
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