Calling for cash… an extract from the diaries of Evil Knievil

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The man the Daily Mail dubbed “The King of the Short Sellers”, Evil Knievil (aka Simon Cawkwell) is Britain’s most feared bear-raider. A big man with a bigger reputation, Evil Knievil famously made £1mn by short selling shares in Northern Rock during its collapse. He also uses his knowledge and experience to buy shares, often resulting in the same devastating effect.

Three times a week Evil provides his thoughts and musings on the markets only at theevildiaries.com. Read an extract from Evil’s latest diaries below and click the banner at the bottom of the page for a free trial to the website…

Poser: what does the ‘D’ of D-day stand for? I only ask since I’ve asked around and got no satisfactory reply. Wikipedia does not help.

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It is astounding as to how Leni Gas and Oil (LGO) has advanced from 1p to, now 3p this last few days. It is all down to David Lenigas who has an hypnotic effect upon investors. He would modestly rebut this proposition and comment that it is a case of the company finally coming good. Me? I sold out long ago and am, perhaps, not the chap to ask.

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Orosur (OMI) is capitalised at around £11m. But it must be getting on for that sum in pre-tax profit, which in turn is represented by hard cash. To be sure, there is a central overhead of $10m for overheads and there are cash drains in the unproven projects and, now, Colombia. But shareholders can reasonably look forward to a thick dividend – I will not be the only fellow calling for cash.

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Green Dragon Gas (GDG) are now capitalised at 540p at £770m as against net assets, as at 31st December 2013 of c. £360m. One is asked to believe the realisability of these assets. I do not.

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Finally, The Derby was a total disaster and the day cost me £80,000. Talk about collapse of stout party.

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