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GoEasy (GSY)

8K views 66 replies 12 participants last post by  james4beach 
#1 ·
Banks ran up a lot lately, so I was looking to buy something for more potential of rallying, within financials.
I do like HomeCapital and Genworth valuations and late come-back, after the shorts were proven wrong once again, but I prefer even more 'stealthy' stocks,
those that get little attention on BNN.

GoEasy
- 2.6% dividend
- PE = 10
- Last quarter was great
- 15% away from its 52-week high

I'm buying a half position at 19.15.
 
#54 · (Edited)
Looking at some of the stuff they sell... If someone is stupid enough (or rich enough that they don't care) to buy a "gaming chair" worth $300 for $12/week for 104 weeks, then I have no empathy and I'm happy those people are contributing to the valuation of my GSY shares currently running more than +300% in a year. That's just money going from the stupid to the wise. Darwin's natural selection. Meanwhile I'm making $100k a year, yet I'm buying a desk chair $30 at IKEA for my work-from-home setup, and I bought my desk $25 on Marketplace.

Some people have sad stories, but some are just plain stupid.
 
#60 ·
I've touched a 5X (+400%) today on the first position that I took on this stock in April 2020, 16 months ago. Wow. My highest return so far. Sure, it's easy because I bought it during the dip of a flash crash.

(So that I don't look like I'm just bragging about the good picks, my worst pick is currently at -62% after 8 months. But let's just say that I currently have 5 picks at -40% or worse and 4 picks at +200% or better and overall my XIRR is currently more than 50%)
 
#61 ·
Yeah it's impressive.
But they prey on people with bad credit.. at some point the cards will collapse.
I was lookign at Home Capital Group in the early 20 teens, but came to the same conclusion.

Good luck, but it's a risky stock, with IMO predatory practices.
When things go south, it will be fast.

I'd clear a few chips off teh board now TBH.
 
#64 ·
New all time high. My first position from April 2020 is reaching 6X (+500%).

Momentum plays are tough because I know it'll crash at some point.

I've noticed that AVDV (Avantis International Small Cap Value ETF) is holding GSY.TO as part of that Small Cap Value ETF, yet it shouldn't be considered value anymore, it's more like growth at the moment, but I'm pretty sure they keep holding for the momentum. I guess they've picked it cheap (value) and now they hold it through momentum, which is a sound strategy in my opinion. I'll be curious to know when will they sell. Sure thing, I'll still be holding the bag.
 
#67 ·
I've noticed that AVDV (Avantis International Small Cap Value ETF) is holding GSY.TO as part of that Small Cap Value ETF, yet it shouldn't be considered value anymore, it's more like growth at the moment, but I'm pretty sure they keep holding for the momentum.
Congrats on having a position in GSY. I was tempted to "join the party" but just couldn't do it.

Avantis tends to imitate Dimensional Fund Advisors, and I believe that they use a modified value factor technique that involves using a bit of momentum.

They are, after all, stock-pickers. They just use a bunch of academic work to convince everyone that their stock-picking is being done a "good" way. Of course, the same people will tell you that your stock-picking is bad.
 
#65 ·
That's ironic. I understand that people question the ethics of a company like GoEasy.

Meanwhile...

 
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