The Evil Diaries: Plethora and Foxtons

Niki Adams of the Collective of English Prostitutes and self-declaredly a prostitute appeared on C4 news last Friday evening arguing for legalisation of the “game”. Sadly, the conduct of C4’s enquiry was so fast and superficial that the value of this piece was largely lost. But, increasingly, there seems to me to be a strong case for legalisation (health, control of violence, inhibition of  trafficking, tax etc.). The only questions are how and where. (Incidentally, I have to report that, given that she’s rather attractive, Niki did not leave her contact details. She missed a trick there.)

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Quite separately and since I have strayed on to the matter of sex, I bought Plethora (PLE) yesterday at 3.5p. I originally paid 7p or thereabouts a couple of months or so ago and put the very poor timing of this investment down to my ignorance of whatever. The offer from the chairman’s Regent Pacific (0575 on HKSE), a HK listed and quoted vehicle, is 15 shares of RP, now 8 HK cents apiece or 11.1p all told for each share in PLE.

Given the certainty of completion of this takeover, why the gap? One can be wrong about these things (I and the chairman have never discussed Plethora) but it is hard to short stocks in HK and many UK holders of Plethora are very reluctant to find that their only way out is to sell in HK. So they decline to wait and therefore sell in London. It is in fact extremely easy to sell in HK (it’s all at T+2) but one does need a stockbroker who is not a tedious whinger. There are quite a lot of brokers who are tedious whingers shuffling round London. They invent difficulties where there are none whatsoever. However, in their defence there are moronic regulators in the background at all times: their capacity to waste time and negate efficiency is staggering.

As regards Plethora itself, its remedy for controlling premature ejaculation works (or so I am told). Not merely does it work for those who are prima facie sufferers but, I understand, it also works for recreational players who wish to give their partners extra action. I think you would agree that this rather opens up the market. Anyway, in a few months time, or so I am told, this product will be tested for real in the market. One can see why the chairman is optimistic.

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Foxtons (FOXT) reported this morning and one would very reasonably wonder just what the fuss was/is about. They seem not to have had any difficulty with economic conditions relating to housing. However, they have qualified the outlook. We bears can sit put.