Q: As a long term investor of Goeasy I am not very impressed with the trouble that Goeasy has got themselves in, but am glad to see they appear to be setting the record straight now.
I guess I'm fortunate to still be up about 300% but having been up 1200% at times it still hurts. (fortunately I did take money of the table at times).
My question is what due diligents does 5I do when "Reporting" on a company beyond what the Company reports?
Thank You
john
I guess I'm fortunate to still be up about 300% but having been up 1200% at times it still hurts. (fortunately I did take money of the table at times).
My question is what due diligents does 5I do when "Reporting" on a company beyond what the Company reports?
Thank You
john
5i Research Answer:
We meet management and talk to analysts and (importantly) to competitors. We get really good info from competitors who do not have restrictions on what they can say about other companies. But, we have been lied to and misled hundreds of times before, so we put more empasis on numbers and financials. There was some deterioration at GSY last year, but nowhere near to the degree that has now been revealed. The company put up excellent numbers for decades, and the shift was so dramatic it makes us question whether prior numbers were even accurate. But we rely on audited, public numbers.