It hurts how undervalued this company is...This has to be one of the most undervalued names in Canada,
Trading at 0.7x BV for a company that is profitable and growing its loan portfolio over 30% QoQ how does this happen?
This has to be the biggest guilty by association companies due to the disaster that is PHM.
Why the management team doesn't come out and share their story I do not understand, this is the biggest show me stock and could easily move 20% on numbers being released.
As of Nov 30, 2015 - Gross Loan Book = 50,000,000
Annualized Profit = 3,200,000 (Holding Profit and Loan Book constant)
They could take a 6% of an allowance on their loan book and still make money.
For perspective, the most hated and one of the most hated lenders in Canada HCG.TO trades at 1.5 BV.
Get Long.