In short: He met management for the first time and was impressed by their conviction — "if you believe everything they say, they sound like extremely enthused by the business" — and grants the growth: "they're growing very fast." Then the veto, which is the transferable part: "where I see insiders — I see insiders there. This is something we do at Timelo quite a bit. We follow insider buying and selling very closely and insiders sell regularly. So I'm just not comfortable because of that." The same economy-level caution as goeasy applies: he does not want to own a subprime lender into a weakening economy.
Propel is a US-focused subprime lender growing quickly. Tardif met management for the first time and found them genuinely convincing — "extremely enthused by the business" — and he does not dispute the growth.
He passed anyway, on a single screen that is the most transferable thing in the segment: insider selling. "We follow insider buying and selling very closely" at Timelo, and here insiders "sell regularly." Insiders sell for many innocent reasons — tax, diversification, a house — which is why the pattern matters more than any single sale. Regular, ongoing selling by the people who know most about a fast-growing lender is a signal he will not argue past, however good the meeting was.
The same economy-level caution as goeasy applies on top: he does not want to own a lender into a weakening economy at all.
33:50— and it's different, it's US, it's very different from goeasy, but same sort of subprime lending. — So they're growing very fast. Where I see insiders — I see insiders there. This is something we do at Timelo quite a bit. We follow insider buying and selling very closely and insiders sell regularly.
Nothing matches this filter.
Verbatim excerpts from the public transcripts (auto-pulled at each mention's timestamp, lightly cleaned). Timestamps link into the video; "source page" opens that commentator's full analysis at this row. Click a mention's header line to expand it (one open at a time). For personal study — not investment advice.