Evil Diaries: Brexit, betting, Petro Matad and Tesla

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Evil Diaries: Brexit, betting, Petro Matad and Tesla
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I think Theresa May’s handling of Brexit is absurd and reckon that we will probably end up with no deal. So whenever that looks to be more likely than the market reckons it is time to go long of FTSE. Conversely, when things look overcooked, it is time to short FTSE. So far so good.

*****

Last weekend’s sport was highly profitable. On Friday night I started off with the Mickelson Woods golf showdown. This was high excitement only settled about four holes into the sudden death play off. A handy £10,000 went in the tin.

I also had the pleasure of watching just how bad Women’s T20 cricket is: it’s the way the catches get dropped. The trick lies in backing the team that is the least clumsy.

*****

Getting on for ten years ago I made at least £250,000 going long on Petro Matad (MATD) and then shorting it. I therefore readily see the big mistake bulls are making right now. Sparky life will never return to this stock however good current drilling turns out to be.

*****

Finally, I apologise for being so profoundly wrong over Tesla (TSLA). I am now out of it and do not intend to return for a long while. The affair has cost me at least £150,000.

Comments (1)

  • Raymond K Both says:

    Good morning Sir.

    You may recall that we met earlier this year at the CLP AGM. I was the only shareholder present who was permitted to vote (you unfortunately could not prove your identity or your shareholding(s).

    You will be aware that tomorrow is the last date for Bondholders to indicate if they will convert their Bonds into shares at the price of about 3.76p (technically 500% to the mid price in late September)

    I believe that not only will Eufingest will convert but most of the others will also. We have €6.4 million of these Bonds and if all are converted then at a stroke we have €6.4 million less debt. The number of shares that would be issued would be about 154 million and the nominal value would be about £387K.

    I believe I know just as much about CLP as Francesco Gardin and if you want to check my posting history on LSE South East I post under RKBeekeeper.

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