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Shock horror: Funding Circle doesn't profit warn...and Smith & Nephew's CEO wants to be paid more

By Chris Bailey | Monday 21 October 2019


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.


I see Funding Circle (FCH) is out with a short update today reiterating its - naturally previously reduced - full year guidance. However, it is not that exciting with loan originations down 0.5% year-on-year in the third quarter, although loans under management were up 31% for the first nine months of 2019 compared to last year. A few weeks ago I talked about the fundamental flaws of this business and today's little update highlighting that there has been no extra overt hit to numbers has been naturally taken as good news (spot the short squeeze). However let us think about what lower loan originations mean…

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