Corporate collapses: when Arthur Andersen went down 15 years ago over Enron the problem was that the liabilities of one branch of that firm spread right across the world. This is different to the collapse of Bell-Pottinger where no liabilities (at least as matters stand) are due. Here the firm which specialised in managing reputations…
It has been a busy buying day or two. Having sold EROS (NYSE:EROS) I rushed back in at $12.20. I just love it. But I also bought Interquest (LON:ITQ) at 29p just before the suspension – in the belief that we will get the management buyout at 42p. And I bought Tribal (LON:TRB) at 76p…
Last Friday LSL (LON:LSL) took up c. 20% of Yopa for £20 million cash. Yopa is described as a hybrid online estate agent and, at first glance, looks identical to Purplebricks (LON:PURP) in that customers pay Yopa a fixed sum, win lose or draw. This suggests that PURP has a real business. However, there is…
Had Theresa May openly declared herself a Corbynista I might have understood the mad thinking behind a proposed attempt to bring directors’ pay under control not merely for public companies but for private companies as well. But today’s issuance is simply an attempt to appease children. It has no chance of success – for anybody,…
Provident Financial Group (LON:PFG) duly collapsed this morning and it is hard to see why or how it will be revived. The fact is that the climate for debt recovery has turned extremely sour. In any event, the balance sheet has been hammered and the outlook for dividends is zero in the foreseeable future. Now…
I reckon that Provident Financial (LON:PFG) is a sell again at 2100p. The more one reflects upon the insane levels of personal debt in the UK the more a PFG short is an absolute sitter. ***** Purplebricks (LON:PURP) seems to refuse to stand up. It would probably be wisest to kick it down. Now…
Pantheon (LON:PANR) have issued £10m new stock at 43p. This might change PANR’s prospects – the directors clearly think so. I suspect that it is time to have some. The only question is as to just when. I paid 46p this morning since I guess the loose holders should not take long to clear. *****…
Acacia (LON:ACA) is down again this morning on the supposed news that ACA has been fined $190bn for tax evasion in Tanzania. This compare with ACA’s capitalisation at well under $1bn. However, I have read that, possibly, the RNS is incorrect in that the fine is in fact in Tanzanian shillings. An altogether different proposition.…
The fuss about the forthcoming listing of Aramco is entirely fake. The idea behind the 25% free float rule is to ensure that there is as little manipulation of the share price as is possible. Aramco is simply a vast bet on the price of oil, Aramco’s reserves and of course Saudi politics. It doesn’t…
It’s a wungermaul life: I did not realise this until listening to the tennis yesterday. A wungermaul arises where each player has won one game. My pick, Venus Williams, is still there. She is deffo the Afro-American in the wouldwinpile. But for profit this week it’s Newmarket for sensible bunnies: the rain will have gone…
