The Evil Diaries: “It would be mad not to be involved”

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The Evil Diaries: “It would be mad not to be involved”

You have to hand it to Rob Terry. Here he is facing serious questioning from the FCA over his conduct in and around Quindell (QPP) and he asks the FCA for permission to go over 10% of Daniel Stewart (DAN). I suppose that this is roughly analogous to a condemned man asking for a glass of Wincarnis or whatever it is condemned men fancy. Anyway, the Nomad has had enough and packed it in this morning: could it now be time to call upon Ray Zimmerman?

Incidentally, it has been pointed out to me that Quindell is now worth in excess of 200p. Since I got this one so wrong I lie back, think of England and disclose that I have bought Quindell.

I had Allied Minds (ALM) pointed out to me about three months ago. It has risen from nowhere and now stands at about three times fair value. This, I am told, is because Neil Woodford of Patient Capital Trust (well, would you invest in an Impatient Capital Trust? Or perhaps the Woodford endeavour is designed to make one a patient?) will prop up the price. Now 690p, it is time to leave quam celerrime.

Telecom Plus (TEP) has found a black hole. Although the price recovered from a low of 730p back up to 800p yesterday, pay no attention. Stay short.

Andrew Monk of VSA Capital declares that Madagascar Oil (MOIL), affectionately referred to as Mad Oil, is the cheapest oil stock he has encountered this last thirty years. He might be right in so judging – I do not know. What is certain is that we may be on the cusp of the great oil juniors share price fightback. If so, it would be mad not to be oil involved. Now 10p.

Finally, I have blathered on about St Peter Port Capital (SPPC) before and been rewarded by a slide in the price from around 60p to the 24p at which I dealt as to 180,000 shares earlier this week. SPPC is capitalised at around £17m whereas I am assured that there is cash of £5m (no debt) and one holding alone worth £11m. That leaves all the other investments in for free. At 30th September 2014 the tnav was declared to be 74p. Since then it must have shrunk – but to 26p? I doubt it. So the question then arises as to what the price should be expressed as a percentage of tnav. Again, I do not know. But at 26p it is a great bet for those who are patient.

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