The market must be mad
The fuss about the forthcoming listing of Aramco is entirely fake. The idea behind the 25% free float rule is to ensure that there is as little manipulation of the share price as is possible. Aramco is simply a vast bet on the price of oil, Aramco’s reserves and of course Saudi politics. It doesn’t appeal to me but it could do to others.
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It is comic that Barnier and Davis keep chatting. All Barnier has to agree to is that the UK rules itself and that in the first instance there will be no changes whilst reserving the right to introduce change after change little by little as soon as we are free. The slaves of the EU will resent this and they will put a stop on Barnier or his successor.
Of course, Barnier and his mates will not do this. But that is just a reminder of how we are best well clear of these ghastly people.
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I have bought Six Hundred Group (LON:SIXH) again. I have no idea why the share price – now 15p – is so low. The market must be mad. It all reminds me of how long Molins (LON:MLIN) took to break free and up.
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Finally, reflecting upon earlier years the other evening, I bought a copy of the Guinness Book of World Records 2017 – 1p on Amazon. I am giving it to my eldest grandson (now aged 8) and have drawn his attention to two records which he should attack with care. The first is drinking (GWR’s word) 14 ounces of Heinz Tomato Ketchup from the bottle in 33 seconds and the other is eating three cream crackers in 32 seconds. These are really important challenges. The boy thinks ten seconds is easy on the cream cracker challenge. Good luck to him.
You are probably wrong about SIXH. I have watched them since the 1980’s and they were moribund way back then. They are a steady well-managed company nobody wants to buy and they are not on the acquisition trail. They are a small co. with much bigger competitors. As there was no interim dividend the value to a shareholder is reduced. It’s not just about accountancy, it’s about market perception.