After the episode revealed here yesterday by Doc Holiday, marmite AIM serial CEO David Lenigas has announced that he is to stop tweeting. For a 50 tweets a week man that will be some cold turkey. I just hope he does not try quitting the fags at the same time.
Well what a week and if you are a Rolls Royce (RR/) shareholder what an end to the week…but more on the perils of owning one of the favoured holdings of institutional professional fund managers in a minute.
I’d like to remind certain people who’ve attacked the mercurial David Lenigas, in recent weeks, that this is the man who a couple of months ago was being praised by the vast majority for making them collectively, hundreds of thousands, if not millions of pounds. (Where are they all now David?) Fast forward to the present day and Mr Lenigas is now being demonised on financial web sites, bulletin boards, comments sections & twitter.
In a bear market, defensive stocks like Tobacco, utilities and Pharmaceuticals are always a good bet, these stocks tend to outperform the index. In my view utilities could take a big hit if bond yields rise, in the event of the Federal Reserve getting into trouble. Pharmaceutical stocks have been stimulated by takeover activity, but in the absence of deals they are still a safe bet. We always need drugs irrespective of the state of the economy.
So the yield on short dated US government bonds fell below 2% on Wednesday 15th of October, upsetting the apple cart of portfolio planning by those who were persuaded that inflation was on the rise - thanks to the easing of quantitative easing known therefore as ‘tapering’ to avoid the confusion of too many ‘easings’ – and the cost of credit going up, due to a forecast shortage of supply as the Fed closed it easy money till. Normality was coming back along with higher borrowing costs.
Following some positive feedback on the previous short positions table published on this website, the following shows shorts with a ‘position date’ in the current month which have been disclosed, as required, to the FCA. Investors holding these shares may thus want to check the current fundamentals. Companies in bold feature in the table more than once.
It’s Friday and so it is time for a caption contest There is no prize simply post your captions for this wonderful and still relevant today cartoon from 1929 in the comments section below by midnight tonight. For what it is worth my Quindell (QPP) themed entry is:
Karelian Diamond Resources (KDR) is celebrating the discovery of ‘a high concentration of indicator minerals’ at Riihivaara in eastern Finland, which the Dublin-based company claims should indicate the presence of a new kimberlitic diamond source in the Scandinavian country’s Kuhmo region. Chaired by veteran entrepreneur, medical academic and former Irish senator Professor Richard Conroy, Karelian says Riihavaara, where it has recovered the minerals in the form of G9 and G10 garnets, lies to the south-east of Seitapera, where it claims already to have outlined ‘the largest diamond-bearing kimberlite pipe to have been discovered in Finland to date’.
Our pals at Palisade Capital, employer of the mining guru Amanda Van Dyke, serve up a weekly podcast on gold with Jordan Roy-Byrne. He argues that gold should higher still after this week. This has clear implications for share prices across the mining sector. Okay he is a chartist but still it is an interesting call.
You could describe what has happened to the market as a massacre over the past two days. It’s even making ‘conventional’ news now, and new ‘experts’ are being found to pass comment on it. The truth is... most of these experts don’t have a clue really. Interestingly today the Telegraph is doing a review of highly paid fund managers who at the beginning of the year were predicting the FTSE would be at 8,000 by the year end...
Where is that dam Quindell (QPP) video? I am really getting pissed off now, I was promised it last night and it has still not arrived. Fingers crossed. Meanwhile the podcast is back on an up day for the markets – an opportunity to offload duff stocks in my view. This bearcast covers:
In August I concluded that, at 43p, shares in secure payment and customer service products-focused Eckoh plc (ECK) already looked to anticipate some quite impressive growth with resultant substantial downside risk. The following updates on the back of an announcement from the company of a new US contract win and that interim results, to be announced on 25th November, “will report a significant increase in revenue and margin compared to the previous year, in line with market expectations”.
The following tip has been confided in me by many successful investors and comes highly recommended. Fallen angels are big companies which have stumbled on rocky ground. Their share values have behaved like a stone in a well after bad news, a profit warning say, and have continued to plummet. They're well worth watching for signs of a recovery. Because after a year or two in the doldrums, fallen angels can shoot skywards again in a spectacular way.
Having rejected a takeover price proposed by Nasdaq-listed Microchip Technology Inc, CSR plc (CSR) has announced a recommended cash deal of 900p per share with a different Nasdaq-listed company, Qualcomm. Is this the final play here?
The video of my presentation “Quindell, how it has committed accounting fraud, has not generated a cent of cash despite what it claims and why it is worth 0p” should now appear tomorrow. Pro tem here is part 2 of the Quindell Legal Services – More Red Flags Vicar series. QLS served up so many Red Flags it needs two articles. Part One can be found HERE. Now moving on.
When legendary resource investor Rick Rule of Sprott said he expected lots of companies to ‘give up’ or ‘de-list’ before this bear market was over we all took note but where are the reports of companies leaving the resource sector? In this piece, Jeff Desjardins takes a deeper dive…
Amara Mining (AMA) has announced further results from the 2014 drilling programme at its Yaoure gold project in Côte d'Ivoire which “continues to confirm high grade mineralisation throughout the deposit”. This is the ONLY gold stock we are now tipping on our premium Nifty Fifty website.
The tweets of David Lenigas have been controversial in the past - see here - but now another episode comes to light which appears to beggar belief. Quite simply Mr Lenigas appears to have made tweet claims about Horse Hill which his own team says are untrue. For the avoidance of doubt I am a shareholder in a HH company (UK Oil & Gas) and I reckon oil will be found but that does not excuse what has gone on.
Foradex, the Romanian exploration services group that is already the largest shareholder in West Africa-focused Stellar Diamonds (STEL), has invested another £396,180 in the company at an above-market (though depressed) 1.55p. The money, topped up with warrants for half as much again by next April, will enable Stellar to buy Foradex earth-moving equipment for its gem projects at Baoule in Guinea and Tongo in Sierra Leone.
I guess my warnings about equities being overvalued are being vindicated. Sorry Malcom S. and Wilderides! And naturaly I start with that. However there are other matters to discuss:
The May edition of the UK Investor Show Magazine is live featuring three share tips from Gary Newman, the Greek meltown is worse than everyone thinks, and the EU is not fit for purpose plus a photofeature from the 2017 UK Investor Show.
The busting of a placing by AIM-listed UK Oil and Gas (UKOG) at 1p by Tom Winnifrith has caused a bit of controversy. It is not the first time he has been accused of being irresponsible by blowing the lid on a placing only for it to be pulled or the price dropped. Anyone left holding the baby gets their fingers burned – in the recent example quite badly if they had been buying into the ramp at north of 1.4p only to see the company raise cash at just 0.8p. Is it right?
The nauseating Mail on Sunday fawned upon Pippa Middleton and her ghastly family as they celebrated the "wedding of the Year". Bring on the revolution! But perhaps the real wedding of the year should be between our two very own in-house Bulletin Board Morons GrannySnuffs & Wildes who seem made for each other. can you find examples on the LSE Asylum, iii, ADVFN or twitter of comments more idiotic than those of our own dream team? If so post in the comments section below, the deadline is midnight Sunday 28th May.
Having bought itself some time by declaring an initial sack-the-board General Meeting requisition “invalid” (a revised, valid requisition announced by it at an attempted ‘no one watching o’clock’, 5:15 pm, on Friday), Infrastrata (INFA) has this afternoon made a “Review of stategic options & project update” announcement...
AIM-listed travel agent and wannabe Greek holiday resort developer Minoan (MIN) announced a small bolt-on acquisition this morning….and a placing. Oh, and an update on its debt facility due to expire at the end of June. It is disappointing to see a placing (at 9p), but in the general scheme of things it is a relatively small amount so the pill is sugared to some extent.
It was a keen competition this week. But we have found a winner.
Take a look! European investors are clearly failing to grasp the very significant financial and commercial benefits available for Orphan or Rare Disease drug developers. So much so in fact, that sector-focussed Amryt Pharma (AMYT) finds no quoted peers in London, yet a good basket of NASDAQ-listed comparables are seen to command a significant premium despite mostly being pre-revenue and somewhat earlier in their development. Such anomalies can and, of course, do rapidly correct.
Any reader of my pieces will know I hold Challenger Acquisitions (CHAL) in pretty low regard but the outrageous ramping that has now gone on for the last four trading days is an absolute disgrace and the FCA should take a look. I’ll explain.
I have already covered the dire financials of Eden Research that indicate it is just months from trading whilst insolvent as well as its panning by the Financial Reporting Council (FRC) - in response to my urgings. Now to today's monstrous half truths - I am perhaps being 50% too charitable in that description.
Eden Research (EDEN) has today published godawful results and admitted that my very good friends at the Financial Reporting Council (FRC) investigated it - after I requested such an investigation - and have forced it to restate past numbers. It claims that the FRC has now settled all matters. Au contraire. that is another lie from the fraudsters and there are many more porkies in this statement. Truly, the pants of shamed PR Paul Queenie McManus of Walbrook will be cinders and ash after this effort. This all came out as Eden published Godawful numbers for calendar 2016.
The sold-out success that was the 1st April 2017 UK Investor Show again saw five 'Dragon's Den' sessions where a number of CEOs each gave a pitch and three Dragons each picked one stock for a £1,000 investment. How are they faring so far?...
With some great investigative journalism of which this website would have been proud, Brokerman Dan flushed it out a few weeks ago. The former bank robber - correctly - stated that Andalas (ADL) was looking to raise £1 million at 0.06p and the AIM listed crock of shit suspended its shares. Today they are unsuspended after the company raised £600,000 at 0.1p. It says this is at a premium to the suspension price. But it is a spoof, Andalas is still bust. It is insolvent as of today!
Malcolm Stacey is old enough to know about King Canute. In fact he is so old that he was there as a boy when the King sat in his chair on the beach and attempted to turn back the tide. Malcolm surely you remember the day as if it was yesterday? In which case why do you forget this valuable lesson when it comes to Inmarsat (ISAT) and your article today in which you misquote me and get it wrong in so many other ways.
"A credit crunch is brewing and when it happens, the UK is going to get hurt." These are not my words but the start of the Editorial in this weekend’s Guardian. The article then went on to say "That is the message emerging from senior executives in the financial services industry, who do not think Britain has changed that much since the 2008 credit disaster and the devastating crash that followed. Three developments lie at the heart of this disturbing analysis: spectacular growth in the sale of second mortgages, car loans and credit cards." I would heartily agree with these comments as this is my experience too. But what the article fails to say is that the UK is not alone in this debt bubble - once more it is a Global issue.
Hello Share Scoopers. There have been quite a few occasions now that I’ve commended a Footsie satellite company to your attention. On each mention, as I recall, the share grew in value. However, last year the shares took a big knock.
One of the most fascinating scenes I’ve seen for some time is the sight of Big Donald jigging around with some sort of weird entertainment put on by the Saudi’s for the President's visit. It almost made me forget the big benefit of this amiable state visit on share shifters like us. And that of course is that the President’s friendly reception sent the oil price up.
An announcement from Corero Network Security (CNS) with a headline “Corero Tier 1 Internet service provider customer GTT Communications, Inc. launches DDoS Mitigation service”. Then “further to the announcement on 19 April 2017 regarding a Global Tier 1 Internet service provider customer win… announces that the customer, GTT Communications, Inc. (NYSE: GTT), has launched its DDoS Mitigation service”. “Global Tier 1” now hey! And you what? The contract win has already been announced? Ramptastic…
Together Robert Sutherland Smith and Tom Winnifrith have now been working in finance for 71 years - the last ten or so together. Tom wishes to stress that RSS accounts for most of that, the great value investor starting his City career at the Unilever Pension Fund the year before Tom was born. In this book they outline 71 tricks of the trade for making money from shares.
Get the first ShareProphets Pocket Guide ebook, EIS - Buying shares with numerous tax breaks. Want to cut your income tax bill, get loss relief if your AIM listed shares go down, pay no CGT, avoid IHT - EIS could be the way and this book explains how.
Most investment books seem to be large enough to keep the front door open and while some contain gems it is hard to find them amid the verbiage. The aim here is to produce a short guide which simply cuts to the chase. I hope that it will provide food for thought for everyone from beginner to expert but whoever you are it should be quick and easy to read and digest.
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