At the back of the form on my first entering Rugby School in 1960 was a smiley and affable fellow. He was and remains Michael Chesterton, arguably the best-mannered man in England. After a career in the Irish Guards (where he served time as Puddings Officer) he went on to Lloyd’s and is now retired. However, Family Chesterton also boasts his daughter Marnie who is a brilliant broadcast journalist. She has an astonishing ability to interest her listeners by showing that she is profoundly curious and interested herself. Try her on Inside Science on BBC Radio 4 at 4.30 p.m. on Thursdays. You will see what I mean.
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Master Investor’s chairman, Jim Mellon, has just gone on the board of Webis (WEB). He already holds 250m shares, now 1.5p to buy. Surely, something appealing will arise here.
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Finally, talk is currently surfacing to allow a split of capital as between voting and non-voting shares in London. I counsel investors and, as a result, the LSE to distance themselves from this change. Some argue that it would increase the number of companies willing to be quoted in London but I assure younger readers that this vista is expensive to unwind and that it will unwind.