Evil Diaries

God help me

God help me

1 mins. to read

Every time the doorbell goes I fear that it is a courier-sped P45 from the chairman. For I it was who urged him to put £100,000 (I do not know whether he took this advice – after all, he may be wise) on Clinton at around 4/9. Worse, I asked three people whom I respect…

The slings and arrows of outrageous fortune

The slings and arrows of outrageous fortune

1 mins. to read

The slings and arrows of outrageous fortune: I won £80,000 on Almandin last Tuesday in the Melbourne Cup but had lost £20,000 of that by COB Friday. However, by around 4.20 p.m. on Saturday I had lost a further £20,000. Not good. And then I won £60,000 in no less than three major fluke football…

Pension deficits: Are things really all that bad?

Pension deficits: Are things really all that bad?

2 mins. to read

I had a very interesting conversation with David Cowen, FD of Molins (LON:MLIN), yesterday. For as readers may recall I have begun seriously to doubt the widespread reports that company after company is insolvent because of deficits in their pension funds. I am certainly not an actuary but in essence computation of a surplus or…

Tesco takes it on the chin
Darren Grove / Shutterstock.com

Tesco takes it on the chin

1 mins. to read

Today’s press carries the item that a group of some 125 Tesco (LON:TSCO) shareholders are claiming £100m+ damages as a result of having invested in Tesco in the light of buoyant figures caused by fraudulent accounting. I dare say that some might claim on the basis that they would have sold but for the figures…

The Uber judgment is nonsense

The Uber judgment is nonsense

3 mins. to read

I was surprised by the Uber judgement. After all, the taxi drivers put up their own capital and work their own hours. So I asked a longstanding tax expert whom I know. His reply is instructive: “The UBER judgment is nonsense unless, which is not improbable, our trendy and light-on-law modern day judiciary decide to…

MP Evans: Another bid seems to be the proverbial no-brainer

MP Evans: Another bid seems to be the proverbial no-brainer

2 mins. to read

Perhaps ten years ago I first considered the Far Eastern plantations covering palm oil – MP Evans (LON:MPE) in Malaysia and REA (LON:RE.) in Indonesia. The latter was run by a Richard Robinow who struck me as extremely civilised when lunching at Drayton Gardens around that time. His family are what used to be known…

Vietnam is strikingly attractive to investors

Vietnam is strikingly attractive to investors

1 mins. to read

The most interesting article over the weekend was offered by Richard Buxton in the SunTel business section. He pointed out the lunacy of determining deficiencies in pension funds by assuming that the annuities that they face buying must have their cost determined by the current yield on gilts, a figure determined by the barmy QE…

Orosur Mining: Palpably a buy at 20p or less

Orosur Mining: Palpably a buy at 20p or less

1 mins. to read

Ignacio Salazar called by at Drayton Gardens on Monday afternoon and, as promised, I bearded him on Orosur (LON:OMI) getting round to paying a dividend. I am not alone amongst shareholders in seeking tangible evidence that OMI is run for the shareholders. He made two points. The first is that he wants to be very…

The FCA is useless

The FCA is useless

2 mins. to read

J-C Juncker thinks the EU should be “intransigent” towards Britain. Be it noted that the EU does not however feel minded to be intransigent towards itself. It jolly well ought. I illustrate this with a piece from Guido: “The EU’s auditors have failed to sign off Brussels accounts for the 22nd year in a row, claiming that…

I am going (yet again) for gold

I am going (yet again) for gold

0 mins. to read

My wife and I know Alan and Gina Miller (pictured). Gina is better known in some circles as Mrs Wham Glam and has instructed Lord Pannick QC to appear for her in the RCJ Strand to force HMG to put an irrevocable Brexit decision to the House of Commons first. Mrs Wham Glam is a…