I caught the falling knife

Had Theresa May openly declared herself a Corbynista I might have understood the mad thinking behind a proposed attempt to bring directors’ pay under control not merely for public companies but for private companies as well. But today’s issuance is simply an attempt to appease children. It has no chance of success – for anybody, that is.

I bought Angle (LON:AGL) last Friday on the basis of a note from Cenkos of the same date. The buy case revolves round the likely success of Parsortix where the market is vast. I paid 39p despite the fact that the chart is appalling – I caught the falling knife.


Steinhoff, the South African-originated holding company of Christo Wiese, quoted in Frankfurt under SNH (I am told that London would not have them) is in trouble. Dr Wiese has to face a German enquiry into accounting fraud as he seeks to split the African interests away from the others. Here I quote: “The crux of the allegations is that senior managers at Steinhoff inflated revenue figures by sales of assets to purportedly external parties which were actually associated with Steinhoff”. This is a classic pig and pork job. It is not good. More follows. The price is currently c. 60 Euros.

The chairman got me to buy silver this morning (and rather think he disagrees with my closing a gold long – as indeed do I in retrospect). However, the horse that he and I co-own finished third in a big field at York on Saturday and it could have won. Anyway we are hugely cheered.