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Evil Diaries

Stamp duty conniptions

Stamp duty conniptions

1 mins. to read

Stamp duty conniptions: readers will remember Osborne upping stamp duty on £1.5m+ properties from 5% to 12% and wondering just who would be muggins enough to pay that. And therefore why the raise had come into being. However, the background was that quite a lot of Conservative voters felt that somehow they were missing out…

Warren will not agree

Warren will not agree

1 mins. to read

The Kraft Heinz bid for Unilever (LON:ULVR) is quite interesting. When preparing for a bid like this it is wise to canvass major shareholders well in advance of parking one’s tanks on the oppo’s lawns. This might have shown that there was/is no discontent with ULVR’s management. On this basis the deal would purely have…

Hurry now while stocks last

Hurry now while stocks last

2 mins. to read

Hurry now while stocks last: apparently, Clifford Chance is paying some of its newly qualified solicitors, presumably aged c. 25, £85,000 p.a. At a guess that is 1,000 hours p.a. charged out at £400 per hour. You lucky customers. Incidentally, the other 1,000 hours p.a. or so in the office are spent filling in the…

The curious case of Smith versus Pimlico Plumbers

The curious case of Smith versus Pimlico Plumbers

5 mins. to read

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…

Trump is proving a true nutcase

Trump is proving a true nutcase

1 mins. to read

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

Law in practice

2 mins. to read

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.…

A national scandal

A national scandal

2 mins. to read

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…

This would not happen in the UK

This would not happen in the UK

2 mins. to read

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.…

One for widows and orphans

One for widows and orphans

1 mins. to read

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…

Queueing to collect

Queueing to collect

1 mins. to read

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.…