The Evil Diaries: Wirecard, Pantheon and Watchstone

Wirecard (WDI on Frankfurt) yesterday pointed out to Morgan Stanley that no current or past staff of Wirecard had anything to do with Wirecard UK Limited. However, it seems that Mr Rudiger Trautmann was appointed a director of Wire Card UK Limited on 27th July 2006. Mr Trautmann was COO of Wirecard from 2005 to 2010. This suggests that there is a very close connection between the two companies. What is going on? Morgan Stanley should surely explain.

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Jay Cheatham of Pantheon (PANR) appeared in public yesterday and gave a very bullish description of events. The trouble is of course that in this environment he cannot give detailed figures. As a result, some sellers emerged. I do not worry: I just keep buying. Now 114p.

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Finally, I yesterday again revisited the balance sheet of Watchstone (WTG). Cash still seems to be 410p per share with the value of unquoted investments coming in on top – surely another 100p. This means that WTG is a screaming buy at up to 300p.

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