OK so the hedge funds had some fun with IFL today.
The main reason for the 10% drop was the
prospect of excessive remediation costs following the acquisitions- even though ANZ and NAB are paying for most of them.
Remediation costs went from $14m to over $100m
Another negative was the exodus of advisors.
Here's the thing.
Aside from the write downs they made $150m for the half.
The MLC contribution for 1 month was $14m.
Do the maths - MLC makes nearly $200m a year after tax.
IFL is going to be a powerhouse within 2-3 years.
I am buying more (free money) if you have a 2-3 year time horizon.
IFL's best days are ahead - do not sell into the storm
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Last
$2.78 |
Change
0.010(0.36%) |
Mkt cap ! $1.864B | |||
| Open | High | Low | Value | Volume |
| $2.81 | $2.86 | $2.78 | $15.35M | 5.497M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 18723 | $2.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.80 | 28520 | 5 |
View Market Depth
| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| IFL (ASX) Chart |