I attended a QFE Meet the CEO Webinar this morning. I have been following this one closer more recenty as after the FY21 Earnings Webinar the usual time for questions was met with ... silence. Not a single question from anyone on the FY21 call.

I take this as a particularly good sign as it means there's no / very few analysts on the call so it's not well followed (and should therefore be less efficiently priced).

This is perhaps not surprising as they have not been performing well as COVID has hurt their business model of providing loans to customers of law firms and accountants (blame job keeper and low interest rates).

So today I was not expecting a big turn out - but perhaps this session was set up in response to a weak response to poor results.

Prior to the session opening up for questions I asked:

"Why do you use short term rather than long term debt (including leases) to fund the business? Would it not reduce risk to fund longer term and enter into longer dates leases?"

But they did not answer it. The moderator kept saying he was geting more questions coming in so overlooked mine in favour of others about expansion plans, potential acquisitions, etc, etc that they much preferred to talk about.

This should have been easy to answer for the CFO who was on the call and taking questions - unless they can't secure long term funding at reasonable rates?

If this is the reason, I can see why he didn't answer it. Not adding at current prices...

Disc: Held.