Evil Knievil: Taking a profit on Ladbrokes Coral

The bid for Ladbrokes Coral (LON:LCL) has arrived. What surprises me is that it is tabled before HMG opines on FOBT maximum stakes – this is expected by the end of January 2018. I am taking a profit.

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Steinhoff (ETR:SNH) has duly collapsed on the announcement that its CEO is going and PwC has been called in to consider what is now identified as aggressive accounting. One of this column’s moles recommended a short at E400. It is now c. E90. I can’t think of any reason to buy.


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Clear Leisure (LON:CLP) has this morning issued a sort of review of net asset value alongside the advice that there will have to be placings to keep the show on the road. I wouldn’t worry too much about that. They have to tell the creditors with whom they must negotiate that they are short of cash.

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Sign of the times: I picked up my cheque book yesterday only to find that I have not issued a single cheque during the whole of 2017. This is not through some policy of dodging my creditors but through the fact that everybody wants to be paid direct to a bank. What a change.

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Sex on the hoof (1): I see that Edith Piaf, 27 years older than he, caused her hand to stray up the thigh of the 17-year-old Johnny Hallyday. He declined the liaison opportunity. At 17, one is a sensitive soul.


Sex on the hoof to come (2): Marsha, a filly, has been sold for 6m Guineas. That seems pretty fruity to me. And what a windfall to her owners, the Elite Racing Group, comprised, as it is, of derivations of number plate enthusiasm.

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Finally, I must learn to be more careful about taking information from ADVFN too literally. I gave Physiomics (LON:PYC) a capitalisation of £900 million since ADVFN told me to. It was and remains c. £9 million. Quite a difference. Still a short though.