RE:Like clockworkThis comment reaks of hypocracy. I don't disagree with the fact you are a trader and not an investor. I even got rid of all my GSY back in February and missed the big dive.
The thiing I don't do is say I am doing it with a company that takes advantage of people by loan sharking. If you are feeling so guiilty give your profits to charity. Don't hypocritically say I think they are unethical and then cabbage the profits and run.
or
Understand this market segment. The lenders that serve the secondary borrowing market are necessary. There is a clear and defined market segment that needs their services. It is an underserved market. Because of "the judgemental" many the regulators are all over companies like this. They have to do things absolutely correctly as they are monitored and audited regularly.
David Ingram has his character imprinted all over this company. I have tried to folllow his money management teachings for decades. He has the discipliine that I still struggle with. That is one of the reason this is one of the great wealth compounding companies on the TSX.
Companies in this market segment are more in demand during times like now and this is the times when they flourish. The more ethical and within the regulations that they operate, it seems the more money they make at times like these.
I made a ton of money back in 2008 - 2011 in this industry...with another ethical company in this industry.
One more point about this style I would like to point out is that is short sighted. To me I dodged the dip back in March due to a lack of investing discipliine rather than any insight that Covid 19 would do what it did. The stock price pattern is actually that after earnings it will peak. Then it will dip by day 4 to 7. Then it will rise to closer to its true valuation within 3 to 4 weeks usually much higher than the initial peak. By that time it is pretty clear how things will be headed on the macro level for the next earnings report.
It is just easier to own it and enjoy receiving the increasing dividend year of year, in good times and in bad.
Sheesh !