It was quite a mark to market loss on Amigo (LON:AMGO) when the Court told AMGO to go away and think again. But, leaving aside the delay and expense now confronting AMGO, I think it is fair to say that AMGO will survive since were the judge’s decision prove to be the prelude to an insolvency there would be no end of a rumpus. So I bought another 1.3m at 11p. I am now showing a loss all told of the order of £100,000 as against a profit at one time of the order of £1m. Talk about being zonked.
I summoned up the courage to short Bitcoin at $35,400. This was bad timing – I dealt right at the bottom. But it looks cooked to me since it ceases to be politically correct to assist adverse climate change through mining Bitcoins and, more importantly, central banks around the world have had enough of this astonishing nonsense and are taking practical steps to bring it under control.
In the same macro vein, I sold the long gilt again at £128.45. Interest rates are bound to go up and I reckon the moves could be fast and material.