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20/11/18
08:22
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Originally posted by polarbear666
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The people talking about credit risk in a downturn don't understand the world of unsecured lending at all and probably value scaling growth businesses on a PE as if it's a mature bank... People repay because they want future access to the network and as we add retailers, the pressure to not get locked out grows, reducing bad debts. Add to this that it is a zero interest product and there's little reason for someone to fail to repay absent unexpected events.
What happened to the "PE is over X" ppl on Amazon or Tesla? Probably busy valuing Berkshire at zero based on no yield, when they could own CBA and get 6%+! haha
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Hey Polarbear - you're probably wasting your breath mate. This is Australia - if it's not a bank, miner or telco, most Aussie investors wouldn't understand.