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Breaking Out on Volume, page-37

  1. 656 Posts.
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    Funnily enough I think their rejection rate is like 4x lower than ZMLs, so I'm not entirely sure I'd believe they are entirely prudent... I reckon this business will experience 1% of adjusted TTV in bad debt, which if you consider, as percentage of book size and revenue is pretty significant... ZML is already at 2%, which is shocking.
 
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