I am not sure that is a correct assumption as I see it the debt recovery business may have more people struggling but the cost of buying distressed debt must, in fact, get a lot cheaper as there will be more out there, CCP got themselves into trouble because of their own borrowings in the GFC as I understood it they took on too much risk.
The risk does lie in the loan book in the event of increasing bad debt.
Certainly, My take is that the shorters definitely had a very significant impact after the anonymous report as now that the results have been released its found its level again.
I don't feel any sorrow for shorters at all, not even sort of.
CCP Price at posting:
$22.50 Sentiment: None Disclosure: Held
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