The Evil Diaries: “Insolvency must be a fair bet”

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The Evil Diaries: “Insolvency must be a fair bet”

I had my card well briefed by TDO (a.k.a. chairman Mellon) and accordingly trousered a quick £35,000 over the weekend. I have again gone short EUR/USD and I have doubled my long in gold. Troubles are not confined to Europe: the margin call position in Shanghai is horrific.

Slater and Gordon crashed overnight in Australia with allegations of fraud having attended the Quindell Legal Services acquisition. I still think this is odd since Slater and Gordon must have had an army of lawyers and accountants attending this deal. But I think that it yet again stresses that the army of lunatics surrounding Quob Park and its claimed investing policies are in trouble.

I initially held back shorting APR Energy (APR) since there is quite an asset backing. But it is clearly in trouble with its banks and I suspect that they have got the wrong equipment in the wrong places. This will not be sorted out immediately if ever. Insolvency must be a fair bet. The price is now 145p.

Finally, I had to pay 23p for Pantheon (PANR) despite the extraordinary floods that have engulfed East Texas. It is about 40 days before drilling gets cracking. Pantheon enthusiasts dream of a sensational uplift. Well, they would do.

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