“One is presented with a gimme”
I apologise for filing copy late this morning but I have only just got in from the overnight train from Liverpool where I have been buying a week’s supply of cocaine. (I also applied to be a striker for Everton but mysteriously encountered delays.)
However, I have not wasted my time. And, every now and then, one is presented with a gimme. Having won £3,500 on a snap election in 2017 (how snappy has an election to be before it can be called a snap election?), I have ploughed into Tories to get an overall majority at 1.2.
I know that these are not on the face of it the most generous odds but they can be so considered provided one steps back and looks at the facts. Do you really think aggrieved Tory voters who wish to Remain will vote for Tim Farron? Equally, would you not agree that many who have traditionally voted Labour and who voted for Brexit last year will now vote Tory? Put like that this 1.2 is a gimme cubed.
*****
Some US ETF specialising in gold shares has taken it into its head (if such it is) to chuck all small gold stocks. The result is that the Aussies are down 30%. This is ridiculous and, I am told, offers an opportunity to buy Resolute, an Aussie miner. (It makes one think a moment though: trusting citizens have put their hard-earned into what they think is a professionally managed fund and instead get treated this way.)
Down 30%?
Resolute is down 13% at AUD1.21 and was down 17% at it’s recent low, from a week ago.
Depends on how you view labour voters voting for Brexit, were they committed Brexiteers, or were they just taking an opportunity to kick back, by voting against what they saw as a Tory austerity Government? Obviously you are convinced it is the former. I know Tory remainers who cancelled their Telegraph subscriptions if they can do that, they can vote liberal democrat.
I have no axe to grind on the merits of Resolute, but don’t forget that the ETF manager, Van Eck, owns 17% of it and they will have to sell probably at least half of their position by June 17th, with the bulk being done on the last day.
https://ftalphaville.ft.com/longroom/content/71074
The smart man who recognised this first wrote about it on the above link 😉