I haven’t seen too many who have little understanding of the...

I haven’t seen too many who have little understanding of the business.

Commercial is going gangbusters and will only continue to do so. Non-bank Commercial financing while a cesspool is quite lucrative.

The credit cards are steady and no doubt will see improvement now with inflation increasing and wages not rising at the same rate. Not to mention the pent up demand for travel. This generation don’t care they are spending money they don’t have.

BNPL though is a drain on the profitability of the business. The expansion was a disgrace at best. The point of expanding into those markets I believed was to take HUMM big things to those markets. What we got though was a watered down Humm little things in the UK and after prolonged hoop jumping they finally got big things approved. But we were told they had 1000s of retailers ready to onboard. I remember counting about 70 at one stage. Canada… need I say anything?

Bundll, from what was disclosed by the company they had made it profitable based on a volume based play. In an increased interested rate environment I can’t see that continuing but welcome alternate opinions on this.

Hummpro…closed down. Hopefully like the little things globally and potentially bundll if it doesn’t remain profitable. We should definitely ditch the Canada experiment if it’s going to continue to be a drain on the bottom line. Especially if they can’t make any significant inroads. But I’d be waiting on the board to give us an update on this.

This business is undervalued and has been for some time. I don’t have my hopes up that it will see it’s true value reflected before it gets taken private.