UBS Sell and $17 target!, page-1525

peter schiff / euro pacific / investigated for tax evasion

theres 25 mins of my life ill never get back.

completely wrong on two key factors and I should have stopped listening after 3 mins.

●afterpay acts as a middleman between merchant and credit cards / vast majority of users pay with their CC.

completely wrong. around 90% of users pay with debit card!

●low interest rates is what allows this company to exist

does not understand the relationship of interest rates to loan book turnover.
only focus is on the margin from a single turnover at 4-6% and paying interest of 2% implying the gain for afterpay is 2-4% not at all taking into account the loaned amount is turned over ~15X per year meaning the margin per annum is 60-90% vs interest of 2%.

nothing new that hasnt been discussed and debunked in the apt thread already.

the only good thing to come out of this is the apt/square topic was not for the whole segment. ~25 mins of listening to someone who doesnt understand what hes talking about is long enough.