Evil Knievil

The Italians do not vote every day

The Italians do not vote every day

1 mins. to read

Since the chairman had told me to go short the Euro (this is an emotional, if sound, twitch of his) I had sold at 1.07. It was therefore concerning to see 1.085 race into view but the price turned over with all the accommodating speedy athleticism of a supremely fit hooker (I here draw upon…

No hint of scandal at IG

No hint of scandal at IG

0 mins. to read

After the great spreadbettor sector slump I stayed short of Plus500 (LON:PLUS) since I decided long ago that they are absolute rotters. However, I bought IG (LON:IGG) at 495p since it is an astonishingly well run business to which no hint of scandal has been attached by anybody I have encountered. I see that Odey…

The FCA’s spreadbetting shake-up is long overdue

The FCA’s spreadbetting shake-up is long overdue

6 mins. to read

Initially this morning, I saw Plus500 (LON:PLUS) collapse. The accompanying RNS covered a disposal of 6m+ shares by JP Morgan. This struck me as strange given that the underlying trade seemed unaffected. However, a few minutes later it transpired that IG (LON:IGG) itself along with CMC Markets (LON:CMCX) had collapsed by roughly the same percentage.…

Spifflicated at Richmond

Spifflicated at Richmond

1 mins. to read

I got spifflicated at Richmond. I only note it by way of completeness. However, we can all make mistakes as did for instance HH Munro, who wrote as Saki (if you have not read his stuff you have missed out) who found himself in 1916 instructing some soldier to “put that bloody cigarette out”. For…

Shades of Oxus all over again

Shades of Oxus all over again

0 mins. to read

Pantheon (LON:PANR) has slid on this morning’s dampening news. Some will fancy buying right now. I do not. ***** Churchill (LON:CHL) was indicating a decision over its ROI spat by this morning. Nothing has emerged. So it also sinks. I have got enough. However, it is fair to speculate that if the decision were adverse…

Churchill and His Money

Churchill and His Money

2 mins. to read

It’s all very well Phil Bentley laying out £3.6m on his Mitie (LON:MTO) bet but he is not in post until 12th December. He will then, I think, be able to see contracts which are front-end loaded as regards profits. This will grind hard. ***** I had absolutely decided to leave Cadiz (NASDAQ:CDZI) alone since…

Mitie’s highwire act

Mitie’s highwire act

1 mins. to read

Mitie (LON:MTO) continues its highwire act even though the wire has been seriously lowered. This business has gone wrong and it is unlikely that Phil Bentley can turn it round. It is amazing that the banks have let the dividend be paid at all. Half time net assets are disclosed as £223m but intangibles remain…

The £3.5m record remains intact to attack

The £3.5m record remains intact to attack

1 mins. to read

My best ever investment has been Golden Prospect perhaps twenty years ago where I was urged on by my pal, Richard Lockwood, a director and co-founder of the company. Family Cawkwell made £3.5m. Which result struck me as unlikely to be beaten. However, it nearly was yesterday when the 550,000 shares in Avesco (LON:AVS) that…

Over to the girls

Over to the girls

1 mins. to read

It’s been a giddy few days trading currencies and I decided to cash in on my JPY short. It’s quite a profit. By standards understood to me JPY is still a raving short. But timing is everything so the chairman’s advice was taken. However, not long after that he got me to go long Mexican…

Funny money out East

Funny money out East

1 mins. to read

GCM (LON:GCM) has announced a Memorandum of Understanding with some Chinese concern to accelerate its Bangladeshi coal opportunity. This is fine and the shares are up from 13p to 50p+. However a Memorandum is not quite the same as Production. Further, on 29th May 2016 GCM borrowed £3m convertible at 11p per share. Given that…