Evil Diaries: Bear with me

It is sometimes forgotten that a bull market climbs a wall of fear whilst a bear market descends a slope of hope. There are still quite a lot of hopers around.

And it is also sometimes forgotten that bear markets rise two thirds of the time. This happy insouciance for aspiring bulls merely gives others more opportunities upon which to short. There are many grotesquely overvalued small companies which are little better than fraud vehicles for vastly overpaid nonentities. The restrictions upon shorting imposed by the authorities merely give more scope for fraudsters.

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Pittards (PTD) report this morning on the half year to 30th June 2022. PTD will pay a dividend in 1/23 even if it is only 0.5p. The PE might be 10 in prospect. This is okay if not overwhelming.

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I sold Future (FUTR) last week. Its customers are poorer.

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Finally, BooHoo (BOO) is possibly in a liquidity crisis. That’s the company not the market in its shares. Its customers have run out of money whilst the cost of production is rapidly rising.