Evil Knievil: Time to go long on sterling

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Evil Knievil: Time to go long on sterling
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Aston Martin Lagonda (LON:AML), surely one of the greatest names in British automotive engineering, duly collapsed on the announcement of the results. Anyone would think the management had been lacking or been plain stupid. But the truth is that, floated at £19, it was absurdly overvalued. I expect it settles at £3 in a few months’ time.

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The EU is still not telling the truth as to the path it must inevitably take and therefore it is reasonable to speculate on sterling’s prospects. From here, c. $1.25, it’s upwards. This is not because Johnson enjoys making a lot of noise but because a lot of businesses are confident about the future. Time to get long on a one-year view.

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A relation who has an immaculate banking record over twenty-five years at RBS has been offered by that bank an unsecured loan for her purposes of £60,000. She was simultaneously informed that RBS would not open a bank account for the business thereby financed. Not, presumably, at any price. What has gone wrong in Britain that the idiots keep ending up in charge?

*****

I bought a copy of Three Women by Lisa Taddeo pursuant to some enthusiastic reviews on Woman’s Hour. It is substantially about sex and, most importantly, how women see sex. This latter vision has always been a mystery to me despite my having been married for fifty years (to, I hasten to add, the same woman). I am only two thirds of the way through, but I recommend this as a most engaging read.

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Comments (3)

  • Mark Lyndon says:

    You don’t want to get on the business end of Johnson’s “lot of noise”.
    Poor McDonnell was trapped between fight or flight in the House yesterday.
    Corbyn was suddenly looking very old and hopelessly at sea, like Mueller,
    that god like being, who suddenly looked ready for the care home.

  • Compounder says:

    When a UK PM says “those betting against the UK will lose their shirts”, it is time to short the pound.

  • James says:

    Any tips about how to get a huge unsecured loan with a negative interest rate?

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