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Need a loan, my friend? - Thoughts on Amigo Holdings $AMGO

So far, Amigo Holdings Plc's ( Amigo or the Company ) “mid-cost” (49% APR) loans were not in the scope of the Financial Conduct Authority’s ( FCA ) High-Cost Consumer Credit Review published in May-18. Additionally, certain characteristics of Amigo's guarantor loans could also allow the Company to circumvent regulations around persistent debt for the credit card sector.  It is hard to argue that Amigo’s loans do not harm consumers. In due course the FCA will create specific regulation for this niche market.  Regulation regarding persistent debt would provide clarity on the extent to which defaults and missed payments have been masked by Amigo extending / rolling over loans, which account for somewhere between 45% and 75% of loans originated.  The impact of regulatory actions could include write-offs, fines, redress and changes to the operating model, which could make the business model nonviable.  Amigo Holdings Presentation ( link ) Reach out to discuss. Antonio
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European Debt Purchasers - "The Red Pill"

I have done an extensive amount of work on European Debt Purchasers including Anacap, Arrow Global, Axactor, B2Holdings, Cabot, Encore, Hoist, Intrum, GetBack, Kruk, Lowell, MCS, PRA… Reach out to discuss the magnitude of the accounting inconsistencies identified. Antonio Gurrea | E: antonio.gurrea@gmail.com | M: +44 (0) 77 3437 2615 "This is your last chance. After this, there is no turning back. You take the blue pill, the story ends. You wake up in your bed and believe whatever you want to believe. You take the red pill, you stay in Wonderland, and I show you how deep the rabbit hole goes. Remember: all I'm offering is the truth. Nothing more." Morpheus, The Matrix
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Credit Acceptance Corporation - "C is for Collapse"

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Executive Summary The accounting practices used by Credit Acceptance Corporation ( CACC ) front-load revenue and understate write-offs, thus inflating earnings by 30% to 40% as well as Loans Receivable, which could be overstated by up to 25%. CACC is facing pressure from regulators, which could potentially result in a requirement to re-state financial accounts, fines and / or restitution to customers. CACC Thesis ( link ) CACC Presentation ( link ) CarMax Auto Owner Trust securitisation performance reports ( link ) Recent Events -      On Wednesday, January 31st, $CACC held its Q4 earnings call, where management (inadvertently) admitted to fudging the numbers ( link ).   -      On Friday, February 2nd, after markets close, $CACC published the following press release:  o    "On November 20, 2017 we received a second civil investigation demand from the Office of the Attorney General of the Commonwealth of Massachusetts seeking updated information on its orig
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