The Evil Diaries: Sports Direct, Beximco Pharma, Pantheon and Concha

I have lately reflected upon the show trial result that has seen Tom Hayes languishing in Lowdham Grange prison, Nottinghamshire as a consequence of the staggering sentence of 14 years for manipulating the Libor rate. Anyone would think that he had personally taken the profit as opposed merely to seeing his bonus enhanced. Further, I cannot see how his line managers failed to see what was going on. All very curious.

Anyway, he is appealing the sentence. Let us all hope that he is successful. Penal sentencing as a kneejerk response to sobering up from Blairite economic conditions is not acceptable.

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I do not read the Guardian. It’s a habit thing. So I cannot quote the recent coverage of how naughty The Mashley is. But, for the life of me, I cannot see what he is doing which is unlawful. Were I a worker summoned by Tannoy or asked to strip so that I could be searched so to control pilfering I would pack it in. But, seemingly, the workers at Sports Direct (SPD) do not pack it in. End of. Does this mean that one should buy SPD? Dunno. But, if its recent decline is down to the Guardian, it’ll bounce back up. Now 570p.

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Beximco Pharma (BXP) is up again this morning in Dhaka at 71p. And in London the bid is 29p. This is looking good. Where else does one find a growth company with huge prospects on a PE of 7 and dropping accompanied by a yield of c. 4%?

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Pantheon (PANR)‘s AGM was held yesterday. The tone was upbeat. PANR is capitalised at 130p at £250m whereas the fantasists such as I are beginning to think of many billions of profit even at current oil and gas price levels. Further drilling assessment results are out in a few days. Hang on to your hats.

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Finally, I shorted Concha (CHA) again this morning – this time at 2p. There is still no deal announced….