LFS has 10x its NTA in leverage, this leverage is secured against consumer loans.
This is a similar amount of leverage the big aussie banks have, and theirs is secured against home loans.
The risks profile of consumer loans vs home loans is incomparable.
This dividend yield is way too low for the risk being taken. This is a reasonable chance of a blow up if the credit cycle changes somewhat.
I am not doing this to downramp, my buy price would be sub 50c and we are not going to get there because plenty of people won't do the work on it to understand. However, hopefully retail investors don't pile into this thinking it's a sure thing.
Ann: hummgroup 3Q22 business update, page-41
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Last
46.0¢ |
Change
0.010(2.22%) |
Mkt cap ! $226.0M | |||
| Open | High | Low | Value | Volume |
| 45.0¢ | 46.0¢ | 45.0¢ | $126.8K | 278.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13059 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 46.5¢ | 31906 | 3 |
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