Evil discusses Quindell, Tyratech, HSBC and Philip of Macedon…
I owe readers an apology in that when I declared that Morgan Stanley had bought 25m Quindell (QPP) there had already been an RNS issued to the effect that they had sold back to below 3%. I am told that they had 4.9% ex Tosca and then acquired just enough to go over 5%, the declaration of which induced a buying frenzy which allowed MS a quick disposal. Well done the MS dealer. This merely illustrates that things happen in this life which are very difficult to predict.
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Tyratech (TYR and TYRU) is perking up. Could there be good news from Walmart? Now 6p and 7.75p offer. I’d take TYR other things being equal.
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I caught up with a racecourse bookmaker, Keith Johnson, who a few days ago disclosed that he along with all other bookmakers had had their accounts with HSBC (HSBA) closed. This was roughly last July and it was suggested, if not proved, that HSBC had decided to do this since they were anxious to make a play for Sharia-compliant businesses. One of these Muslim requirements is apparently that there be no gambling. This is very odd given that I cannot recall ever visiting a London casino this last thirty-five years without seeing the tables dominated by persons of obviously Muslim origin and/or adherence. Either way, this is a disturbing story and HSBC, if they are wise, should fess up.
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My father’s book, Philip of Macedon, was published perhaps forty-five years ago. In the introduction he remarks that empire is broadly inevitable whilst democracy is a greater good. So anyone who does not realise what Russia’s game is now is an abject fool. Incidentally, one can still buy a hardcover copy for £3.48 on Amazon. That strikes me as good value.