I bought my first CCP shares soon after the float at 48c. it has been a wild ride at times - not the least bit boring. In 2007 I thought I would be retiring early but learnt my lesson with the fall from $13 to less than $1 and I was in and out again at that time. Alas still working....
It is a better company today and the cashflow story is impressive NTA is about $3.50 (7x the original float price!).
I still watch the net debt level closely however. It has increased again from being near zero. It should be OK as the investment in the loan book will lead to increasing cashflow and the lower predicted PDL acquisitions this year means they will have surplus cash to either pay it down or invest in more loans.
I hold and would top up in the event of a pull back to $12 or less.
The bigger question is where is the next CCP in the market, i.e the 10 or 20 bagger? I continue to trawl through the minnows and have taken specualtive positions here and there.
CCP Price at posting:
$13.21 Sentiment: Hold Disclosure: Held
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