Have been looking at Morses Club (LON:MCL) and struggling with the courage of my convictions. Clearly there are risks but they have done alright through lockdown so far, their move to digital is encouraging and so far successful, their customers like them. I have Jack's recent write-up and concur. PE of 4.89, P/FCF = 3.5, yield 9%. They are priced for disaster but seem to be trading perfectly satisfactorily. Down another 6.5% today as I write. Am itching to buy but there has to be something significant that I am missing. Your thoughts truly appreciated!

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