Johnston Press (JPR) used to have a big private investor following. Nowadays, at 9.5p, it is capitalised at a trivial £10 million. But that conceals a huge £220 million debt problem which must be settled next year on or before 1st June 2019. Can they do it? I for one do not know the answer to…
The sensible way to effect CEO change at WPP (LON:WPP)is for the new man to work alongside Sir Martin Sorrell for several months since Sir Martin has developed this very extensive machine at a very personal level. It’s the only chance of intimate control being passed on. However, it seems that Sir Martin is now…
Readers who are patient and at a loose end are steered in the direction of Anibale Fly at 11/1 to win the Grand National (5.15 Aintree tomorrow). It should like the going and the new (for Anibale Fly) extended distance. Further, Barry Geraghty could hardly be surpassed as jockey. I took 12/1 on Tuesday but…
I had always thought that Sarah Montague was a sensible good-humoured woman. But yesterday’s Sunday Times included a 2,000-word rant on behalf of first herself and then the sisterhood for being paid less than her contemporaries at the Today programme. A line or two later, however, it transpires that she operates as her front a…
Capita (LON:CPI) keeps dying. The rights issue terms have yet to be announced. This does not feel right. ***** Where I have clearly blundered is, some years ago, slagging off Victoria (LON:VCP), the carpets/flooring manufacturer. I was originally informed that this balance sheet was a con. Well, if it is a con (I doubt it),…
I had never been to one of The Spectator’s public debate/discussion events until yesterday evening when I was a guest of Andrews Gwynne, a firm of wealth managers based in Leeds. Here Andrew Neil put points to David Davis concerning Brexit. David Davis must have the patience of Job cubed since he was constantly asked…
Master Investor’s annual exhibition at Islington was a huge success. I was billed under the title Panama Papers since – natch – I was wearing what purported to be a panama. I got lucky in that I opined a sharp fall in the market and, lo and behold, the following (i.e. last) Monday just that…
As it happens I have decided to ease back on MPAC (LON:MPAC) since Family Cawkwell has got quite enough – several hundred thousand at, now, 182p. Although there is no dividend, today’s results are really very encouraging. Not highlighted was the fact that the pension fund surplus has increased from negligible to something of the…
I spent the bulk of Friday last attending Bob Catto and Jeremy Lyon’s old boys’ luncheon club, located on this occasion at the Naval Club hired by Hobart, their employer. I describe the boys as old boys given that the minimum age of those attending seemed to me to be at least 70. This was…
Until last weekend I summarised to myself that Barnier and Juncker’s line was that since we declined to be governed by them we’d have to pay them some money. But at the weekend Theresa May mentioned that it would be important for British expertise in resisting Islamist terrorism to be recognised (i.e. easing back on…
