Evil Diaries: A Squirrel Has Failed

1 mins. to read
Evil Diaries: A Squirrel Has Failed

Forty years ago it was commonly believed amongst businessmen that HMG had merely to recruit a businessman to streamline the Civil service and all would be well. Marks and Spencer’s Derek Rayner was called in by HMG. After a long time he came up with the brilliant idea that the Inland Revenue should stop sending out prepaid reply envelopes with correspondence emanating from it. He got a knighthood.

So I, being an efficient fellow, collected envelopes whenever they were issued by the Inland Revenue and used one or two of them from time to time. But they came in far faster than I ever used them and, as would a squirrel, I stored them. Last week my wife and I moved home and office and had to throw away hundreds of this carefully stored hoard. This would induce depression in most. But I am doing my best not to succumb.


DARKtrace is now 260p and I reckon that the great buyback threat to shorters has come and gone. Further, Mike Lynch, the founder of Autonomy and eminence grise behind Darktrace, has had his application to the High Court in London to resist extradition to the United States in respect of his conduct at Autonomy turned down.


Robert Corden, an extremely experienced fund manager, sent me some notes last week extoling the case for buying Saga (SAGA), the marketing vehicle aimed at the over-fifties. The shares now stand at 125p.

Although NAV including intangibles exceeds the capitalisation where I prefer to write off intangibles and have another look, the fact is that SAGA is solvent and has the potential to double. On balance this seems a good punt.

Comments (2)

  • philip baker says:

    Would love to hear your views on REA results.
    REA results and annual report were out on 20.04. Preference dividend will be paid by the end of the year all things being equal. 91p at the moment so dividends of 16p between now and the end of the year. An 8 month yield of 17.5% and then a yield of 9.9% p.a if you can pick them up at 91p. Revenue $208m Debt$166. A PE of 2.7 based on the lowest of the 4 different profits shown in the report.
    Dividends on the ordinaries by the end of the year or by next year?
    I would prefer to see debt lowered in preference to dividends on ordinaries but potentially there is 10p a share for dividends next year?
    That is my view .
    I hold preference and a few ordinaries so I am talking my own book. DYOR.

  • Malcolm Kent says:

    Hi Simon you are well. What is your take on AMGO? Share price is doing funny things. Do you think there is still a chance that an investor may be found? Regards. Malcolm

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