Evil Knievil: I would much sooner be long OnTheMarket

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Evil Knievil: I would much sooner be long OnTheMarket
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I have always read Jonas Crosland in the Investors Chronicle. He writes common sense about property.

Today he compares the prospects for Rightmove (LON:RMV) in the light of the emergence of OnTheMarket (LON:OTMP). OTMP is being carefully introduced and faces capital limitations.

However, RMV is on a PE of 30 at £51.75 and like all these companies has no asset backing of which to speak in relation to the share price. Competition will be quite a shock.

Of course, one cannot short this right now since reality will take time to sink in and because CFD providers are charging outrageously when one seeks to borrow stock.

I would certainly be much sooner long of OTMP, now 170p offer.

*****

Clear Leisure (LON:CLP) yesterday reported on how its investment in Bitcoin production through its Miner One operation in Serbia is coming along. It is sufficiently encouraged by events so far to expand the operation and look further along this world of Blockchain. I do not pretend to have any idea what this implies. But why the shares should remain static at 0.8p is beyond me. I still think 3p is a realistic target.

*****

Finally, Toffee Galore, owned by Farhad Moshiri, the chairman [Jim Mellon] and myself, finished third at Carlisle yesterday. She needs further but is surely worth more than we paid for her.

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