Goeasy was a company that was featured here at Premium for many years. We first highlighted it in 2018 and it remained on our Bull List until the summer of last year. I do believe it was one of the longest standing companies on the Bull List.
When it broke $200~ last year, I got very concerned about the company considering the overall health of the Canadian economy. I removed it from the list, and it does look like it ended up being a good idea. Provisions are rising, payment assistance plans are being utilized more, and earnings are declining.
These alternative lenders run a very fine line. They do VERY well when the economy is bad. But if it teeters on becoming too bad, then they tend to fall off of a cliff price wise.
They're strong long-term holds. Both of these companies are top tier alternative lenders. However, that does not mean as a long term shareholder you won't have to live through the 40,50,60%+ drawdowns during periods of uncertainty. Dollar cost averaging into these lenders to take advantage of these drawdowns is key to maximizing returns. If you're buying these at highs and avoiding them at lows, the volatility will be even harder to stomach.
Owning both of these isn't an issue. Yes, Propel is a Canadian company but it focuses primarily on the US sub prime market whereas Goeasy is Canadian.