The problem with HF

1. Most of their income comes from lending...so when interest rates rise they get a hit i.e last year

2. The new land laws...bloody foreclosures will take forever now...

3. Competition...banks are pushing hard with morgages...

Overall I like the management...the MD is a go getter...he wont seat back...he will look for opportunities....

Now CFC...is like 50/50...interest: non interest revenes...show me another bank with such income streams?....thats a model that will ride any economic times...simple..when interest rates are low.. scale up interest income...when interest rates are high scale up non interest revenues....