Traditionally CCP provides a new guidance in early November, and...

Traditionally CCP provides a new guidance in early November, and it is typically better than the initial guidance provided in August. I have wanted to hold CCP for some years now, but never took the plunge. Anyhow, I have just bought 5,000 at $9.69, so I am now in. I like buying stocks in pairs, because studying them is complementary, as each stock contributes some insight applicable to the other. Holding CCP complements my TGA holding.

If I have a concern, it is that new players like Collection House (CLH) and Pioneer Credit (PNC) seem to want to get into the Purchased Debtors Ledgers game, and there is also a push into the unsecured small loans market by the likes of CCP, CCV and TGA. This competition must have some affect, but I am hoping that quality management may mitigate that.

Director selling can be a bad omen, but I have taken Donald McLay's consistent selling to be good - it has kept the SP down to a reasonable price for a would-be holder like me. It's not unlike the beneficial effect of Kylie Brierty's sales of her BYL shares some months ago, which allowed investors in at a bargain price. When Mr McLay's selling dries up, then in the absence of sole negative factors, CCP's SP should rise a notch or two.

Let's see what the new guidance transpires to be.