Evil Knievil: Life moves on

2 mins. to read
Evil Knievil: Life moves on

Late last week Beximco Pharma (LON:BXP) announced a partnership with the Serum Institute of India, a large vaccine developer and manufacturer, to develop a vaccine to cope with Covid. BXP will have an exclusive distribution in Bangladesh. It is far from clear as to what money is and will be involved here but these are serious organisations and in effect gives BXP yet again a higher profile.

For some reason the Bangladesh government has given BXP the right to buy in BXP’s own stock and even at current levels the share price is still cheap. Unfortunately, BXP has not so far been allowed to buy in its London GDRs. But yet again the London share price is highlighted as much cheaper than that in Bangladesh. BXP’s growth projections, after a slight hiccup caused by Covid, are satisfactorily set on track. I could not possibly sell any of my family’s shares.


Manx Financial (LON:MFX) gave a positive interim update last week and, on the face of it, is cheap at 9p. The problem is that nobody knows what the bad debts generated by Covid will prove to be. So I did not buy more. I may regret this.


We now learn that Plus500 (LON:PLUS) has turned its mind to offering agency broking. This is of course entirely different to its current business which still strikes me as deeply questionable. Why anyone would trust PLUS is not clear to me.


Corals start to wake up. A PR person contacted me last Friday to advise that Corals are looking into my refund of £1,200 due by them to me. And about time too.


The trouble is that nowadays businesses have been segmented such that there are no longer any personal relationships. Chief executives like it that way since it means that they never have to monitor performance of employees. The trouble is that the way is thereby cleared for wholly dishonest practices to creep in. And sometimes they gallop in.

In a sense, it is improper to go back on past matters, but readers will have noticed the current advertising campaign conducted by Charles Stanley based on invitations for readers to go and see Jim or Louise or Bill or whomever to discuss their affairs. But after my experience with Charles Stanley (my family’s accounts had been with them for twenty-five years) I would not touch Charles Stanley with a bargepole.

Eventually of course somebody will sober up and stop all this nonsense. But that moment will presumably be after the dreadful current management of Charles Stanley have sold the business to Mr Giant Sucker.

One problem is that the FCA has in effect excluded stockbrokers from being interested in investment since they are not allowed to talk to their clients about investment ideas. As a result, typically, stockbrokers have come to know nothing, and their lives are empty through being stripped of purpose. I think the FCA and the investment industry should stop and think about this.

Comments (2)

  • ALAN HUDSON says:

    I am looking forward to the Webinar

  • Chris Shaw says:

    Extract from This is money article:

    Link, the authorised corporate director tasked with winding up the woodford funds contrived to bulk-sell a package of Woodford’s biotech stocks hours before one of the key holdings, Synairgen, soared 420 per cent in value on the back of its promising treatment for Covid-19.

    As all this has been going on, there has not been a peep from the rudderless FCA as to the outcome of its probe into the affair. It has a snail-like approach to inquiries and has been deliberately obstructive.

    Only last week a former appeals court judge, Dame Elizabeth Gloster, criticised the FCA for delaying her investigation into the collapse of the mini-bonds firm London Capital & Finance with a late dump of 3,500 previously undisclosed documents.

    We shouldn’t be surprised by the dawdling, ineptness and legalistic approach of FCA regulation.

    More than a decade after the collapse and rescue by Lloyds of consumer bank HBOS a report into management failings is still buried in the bureaucracy. The chairman of the FCA, Charles Randell, should be ashamed of this record.


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