Weekend blather

There was no borrow this morning in Sirius Minerals (LON:SXX), now 26p. And I had been waiting this last thirty-six hours to pounce. The weekend blather on this stock was stupendous.

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I tried to get hold of the PR guy at FTI handling Biome (LON:BIOM). BIOM is seeking to develop and market vegetable-plastic coffee cups to supplant oil-based plastics. Vegetable-plastic biodegrades. The trouble is that the vegetable-based stuff is appreciably more expensive than the other stuff. BIOM themselves freely admit in their accounts that this state of affairs is unlikely to change any time soon. BIOM expect/would like government action. This is not likely even if perfectly reasonable. FTI never returned my call. I do not know why.

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Curtis Banks update: those not given to yawning may recall my intense dissatisfaction with Curtis Banks the so called trustees for my SIPP where I want the trusteeship transferred to Charles Stanley, partly because CS is cheaper and partly because I can more readily keep an eye on them.

CB are hindering the transfer since they wish to go on “earning” fees for trusteeship and because they have proposed a transfer fee of £500 or so where the total work in the transfer is signing away their association with me. This transfer I more and more insist upon but on terms that are reasonable.

CB first put it to their complaints procedure and promptly ruled in their favour. They were immensely gracious in cutting the time to review my case from eight weeks to four weeks when any fool would have immediately seen in one minute that CB did not have a leg to stand on. However, in their hugely gracious manner they went on to point out the possibility of referring the matter to the Financial Ombudsman knowing full well of course that that means that in all probability we’ll not have a result inside six months. During which period CB will seek to “earn” more fees. So it’s the FOS for me and more litigation.


Incidentally, CB also sent me a pointlessly incomprehensible transfer authority form. It is so complex that one almost gives up – indeed many will – just so that CB can “earn” further fees through the delay. However, I am not giving up. Why do I find myself in this hellhole?

Elsewhere, a contact sent me a note from CB to him last week where CB claim to have “analysed” his SIPP portfolio’s performance. The “analysis” was pure garbage and based on very seriously incorrect figures where the correct figures are sitting right under CB’s nose. This is another feature of CB which I shall take up with the appropriate authorities in due course. They bullshit for breakfast.

I read somewhere that CB’s income is derived as to 75% by this “trusteeship” work. I’d sell CB shares since their business stinks.

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My wife and I had an old friend to supper on Sunday evening. He is over from the Far East to promote his betting software business. He tells me that Hills and Ladbroke/Coral are each run by Figjams. (A Figjam is so known since he declares F*** Me I’m Good Just Ask Me.) Whereas the truth is that these chaps have not got a clue as to how things are changing. I’d sell both of these companies – they are in trouble.

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Finally, I read over the weekend that Ilie Nastase, not everybody’s favourite feminist, when asked why he had not reported the theft of his credit card to the police, replied that “the thief was spending much less on it than his wife did.”