Evil Knievil: It’s a Done deal

It’s a Done deal: Fred Done knows what he is doing in the stock market and, given that he is boss of the hugely successful BetFred, he is worth listening to. Yesterday it emerged that he has bought 3% of William Hill (LON:WMH), adding that these shares, now 130p, are massively undervalued. He is not joking.

His central argument is that WMH will be a big winner on the legalisation of sports betting in the US. He knows what he is asserting.

I paid 131p this morning.

(Incidentally, and just being topical, sports betting is a very green activity and entirely free of Covid-19 at the operational end.)

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It’s a bum deal: Accrol (LON:ACRL), the makers of toilet rolls, have seen their shares ramped up in recent days as a consequence of panic purchases. But the bottoms of Britain can only consume so much and, accordingly, I would sell ACRL for the time being. Now 37p bid.

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Apparently, some UK gilts went on to a negative yield basis to redemption yesterday. As far as I am aware, nothing like this has ever happened before.

This disease is much more widespread elsewhere around the world and it surely means that gold is a screaming buy at $1,660.