Evil Diaries: Out of the purple

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Evil Diaries: Out of the purple

Purplebricks (PURP) does not feel quite right to me. How could so large a concern omit to remit deposits received from tenants on to the government’s deposit taking scheme in respect of lettings? The fines could be massive. PURP must have known that they were taking this risk. At this point one starts to think darkly. Apparently one can borrow stock too. Given that the basic original idea of fixed small fees to enable sellers to, as they see it, cut out selling agents’ commission is now shown to be profoundly flawed I think it is wise to bet that death has arrived.

Meanwhile, over in the USA, there has been a very marked drop in the meme stocks. Perhaps the Robin Hood punters are giving up. The effect of all this must be counted extremely generally bearish.

Comments (2)

  • Nick cashmore says:

    Dear Evil,

    Your column provides so much wisdom and insight into the shadowy/dusty corners of financial markets. I thoroughly enjoy reading it.

    A question please, do you still have a short position on Tesla?

    Many thanks,

    Nick Cashmore

  • Ken Kemsley says:

    Dear Nick. Rather like Mr Evil I have speculated on the Market for many years. But what you have to accept is that gamblers have a psychological block that invariably prevents them talking about their losses. ( Init !! ).

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