I have just opened a website,Simon Cawkwell – TA Cawkwells Accountants (www.simoncawkwell.com). It does not cover investments but it will cover points of law. What follows is nonetheless of interest, I hope, to readers of The Evil Diaries. So I feature it here: I start with a confession. About ten years ago I received a calendar…
The press consistently gets Plus500 (LON:PLUS)‘s rating wrong. Journos seem to think that the FCA hangs over PLUS ready quite whimsically to kill off this fraudulent concoction. What they fail to grasp is that the FCA does not care how much PLUS’s investors get ripped off since PLUS’s investors have entered the jaws of hell…
Law in practice: I was surprised to learn that a major plc could have a memorandum and articles of association which allowed, at least on the face of it, a resolution put to shareholders of one class to be opposed simply on the basis of one vote per shareholder rather than one vote per share.…
I have read the Investors Chronicle for fifty two years. It is a terrific starter course for someone wishing to kick off their investing career (prior to methodically following up leads on Master Investor of course). One reason is the small company coverage where private investors are, time and again, given terrific ideas which institutions…
I have followed The 600 Group plc for at least forty years. This was mainly because, as a much younger man, I saw the way forward lay in machine tools. This enthusiasm was a bit late. I recall Alfred Herbert of Birmingham and Jones and Shipman, both of the Midlands, which I visited and admired.…
Last night BooHoo (LON:BOO) was criticised on Channel 4 for paying in effect less than the minimum wage to get its garments run up. This has had no effect upon the share price. I doubt if the market is being sensible. In any event, the share price at 141p is far too high. ***** At…
Coral must be completely mad – at least on the facts disclosed in today’s Racing Post. A Mr Albert Kinloch, 74, of Glasgow put £100 on Glasgow Rangers being relegated in 2012 at 2,500/1. This occurred since Rangers hit financial difficulties. Any fool, even Nigel Molesworth, knows this rule. Mr Kinloch is queueing to collect.…
I listened to Phil Bentley of Mitie (LON:MTO) commenting on MTO’s position in the light of this morning’s revelations. However, he did not get to grips with the real write downs which should immediately follow the investigating accountants’ review – apparently this is to be completed by the end of the week and can therefore…
Apparently, Phil Bentley has decided to effect an external and supposedly independent review of accounting at Mitie (LON:MTO). This is ridiculous since the current auditors have been over matters several times already. So what is really happening is that Phil wants to go a-kitchen-sinking. It will not be pretty. As to what the business’s prospects…
Just Eat (LON:JE.) at 530p is capitalised at around £3.6bn and has virtually negligible tangible assets. The gap is hope value. And things are currently going swimmingly. But the problem is that there is nothing patented or patentable in this company and, as a result, JE. is eventually wide open to devastating competition. The new…
