Hmm, boy, Ron is that you? Funny your quoting analysts, I met up...

Hmm, boy, Ron is that you?

Funny your quoting analysts, I met up with supposedly one of the best analysts, I wont mention names, but he is probably the best in one of breed from a US Investment bank, who has offices in Sydney.

He was also very bullish on AFY and gave me his spiel... He knows that I've spent my life in P.E, LBOs and Debt... 5 minutes with me showed he had completely overlooked the debt side of the business... He also tried to tell me its like the new Paypal, until he realised PayPal never lent a cent for the first umpteen years... payments are totally different space... and not restricted by loan book size..PayPal credit is different story...a very boring one at that...cheap debt is really the cause of all of this lampoonery... can you say LendingClub ?


Until the business has enough equity to get to $500m in book, a higher or comparable share price will work against everyone who didn't get in very early...and make Ron Smile.