Judo Bank Monthly Data, page-6

I looked at JDO earlier thinking it has a solid niche and could do well if if it executed well.

A few things kept me from investing 1. I had the impression that new startup online banks have almost always failed. 2. Small business is risky and no matter how determined small business owners are, if we go into recession, small business is typically at the front of the queue to default. And perhaps the the ALP doesn't have business's back as much as the LNP did during covid.

Judo was spruiking a. superior evaluation of business risk, b. the advantage of having new systems without any legacy systems that they have to drag along, and c. superior service.

"a." reminds me a little of the fund managers who say they can do better than their peers and the market.

"b." should be true but this year, I have twice spent more than a week trying to get Judo to approve simple term deposits with support staff saying it is a systems problem. Systems problems that take a week to sort out typically mean there is a problem with the system or the staff running the system.

"c." is worth nothing without "a." and "b."

The CEO seems to be miffed about the drop in the sp. There was a report in the fin that some big institutions may have been selling out - so their judgement may be there is too much risk v reward at the moment?