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COB
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Keep calm and let Cobham be taken over

I predict lots of deal excitement in the London market on Monday morning, with the weekend press all excited about a London Stock Exchange (LSE) apparent takeover approach to a global financial data peer.  There are precious few numbers on the proposed combination currently kicking around but the mooted level of cost synergies appears very low to me. 

Bearcast
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Tom Winnifrith Bearcast: Why Monkey must resist temptation so much, part 2

In today's podcasts I look at calls to ban OIECS, Unit Trusts, in the wake of various disasters include the Neil Woodford affair and make my own suggestion of reform. I also again look at commercial property stocks and an unfolding catastrophe hitting the sector.

Professor

Sunday Long Reads: Poor East Ends, Cannabis Biotech, Betting on Bitcoin, Dine and Dash dates, Match fixing

Is there anything better than sitting back and reading a well-written article on a lazy Sunday? Every week ShareProphets features some long form journalism that you'll find of interest. Grab your cuppa and enjoy these five articles.   

BSFA
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A true Standard List shocker – Red Flags surround new IPO BSF Enterprise

Yesterday a new name joined the Standard List of the London Stock Exchange: that of BSF Enterprise (BSFA). It is yet another cash-shell to join the sub-standard list – as if we really needed any more – but a name sprang out at me and that name rang a bell.

Newsboy

Notes from Underground - Opti, Gold, a Grego short, Woodford, and Atlantic Carbon

You could not dream up a more perfect weekly reader's top five articles than what we got this week.

TSLA
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Tesla Q2 another milestone on the road to bankruptcy and ruin

On Wednesday evening Tesla (NASDAQ:TSLA) passed another important milestone on the road to bankruptcy by showing that even with record deliveries of 95,000 vehicles in Q2 it is incapable of making money. Having promised in Q3 last year that the company would be profitable from now on-in and not require further funding, having raised $2.4 billion in May, it has now racked up losses of $1.3 billion in the first six months of the year. The departure of the last remaining grown up, co-founder JB Straubel, who has been selling stock all year, is also cause for grave concern...

Gold

Podcast: I Think Gold will Eventually go to $5000

In this podcast fund manager Brent Johnson  argues that Gold’s recent breakout is significant, but he thinks that we will revisit $1380 once more. When we bounce off that level, the bear market will likely be over. He recommends everyone own some gold but cautions that doesn’t mean it will pay off in the short term. People should own gold as insurance against the hubris of governments and bankers. 

Bearcast
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Tom Winnifrith Bearcast: That's Entertainment...Sports Direct Results

In this podcasr I look at Sports Direct (SPD), the economic mess in the Eurozone that lunatics like Malcolm Stacey want us hooked up to and at Kier (KIE) - when did it become uninvestable and is there a bull case?

MTPH

Table of shorted AIM shares - week to 25/07/2019

From the FCA's spreadsheet of short positions required to be disclosed to it, the following shows the shorted AIM shares with positions from 2018 and thus far in 2019 (by net short position %, those in bold not on the list at the start of 2019) – and if this position has increased (red), reduced (green) or remained unchanged (black) since last week...

SFE

Safestyle UK – argues “has delivered good progress during H1”… but how good really?

A half-year trading update from self-styled “the leading retailer and manufacturer of PVCu replacement windows and doors to the UK homeowner market”, Safestyle UK (SFE) includes “revenues for the period will be c.£64.4m, 6.4% higher than H1 2018 with May and June being c.15% higher than the same months in 2018. FENSA installation statistics for the first half indicate that the market has declined in volume by 8.2% versus H1 2018… The group continues to improve its margins and operational KPIs versus the prior year and has delivered good progress during H1”. Having reached more than 90p again in May, the shares though currently remain around 66p…

Collapsing-Reactor
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Redemptions Watch: Neil Woodford’s Income Focus fund – still redemptions every day

Neil Woodford’s Income Focus Fund (WIFF) put on 0.3% in NAV per unit yesterday, according to Morningstar. In theory that should have increased the size of the fund from the previous close of £287.15 million to £288.01 million before redemptions.

BKG

How Boris's New Job Will Affect Our Shares And How to Exploit it.

Hello Share Takers. The victory of our new prime minister caused the stock market to take its biggest leap for some months. And though it did retrace the next day, the Footsie is bounding up again, as I write. It may be the noisy optimism of the bloke, but there are other reasons why the Boris effect is energising the market.

Bearcast
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Tom Winnifrith Bearcast: the fraud, the overpromote & the pointless company

In today's podcast I look at Dev Clever (DEV), Tesla (TSLA), Mothercare (MTC), Versarien (VRS) and Block Energy (BLOE). Enjoy.

BLOE
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Block Energy looks even more overvalued now following todays update

Questions have to be asked when a company produces a headline rate from a well test; the CEO goes on an interview road trips talking about how much free cash flow will be generated; £12 million is raised via an equity issue – and then subsequently initial production rates are just a third of what investors were expecting!

VOD
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For Vodafone it is time to be a do-er and not just a talker

I like spin-offs as they are much more likely to be incorrectly priced than an average share will be. Sometimes this is because a newly spun-off business has a liberated management team who can really drive shareholder value and sensibly evolved strategic positioning. And sometimes it is because the remaining 'stub' business is underappreciated, as all eyes focus on the excitable new spin-off. This morning we effectively had spin-off related announcements from two corporate names I have individually written about before: Vodafone (VOD) and Mothercare (MTC)

AIQ

Standard-listed AIQ interims – nothing to report as the cash slowly drains away

AIQ joined the Standard List in January of last year and spent most of its first four months suspended, has to correct its admission document following revelations on this website and the share price went bonkers – yet it had no business, just cash. This morning it released its interims – is it really worth 28.5p a share?

DEV

Boom: More bad news for Dev Clever - it needs to correct and reissue its interims

The critical point about today's interims from Dev Clever (DEV) is that they are piss poor in the cash guzzling sense. Now I do not wish to sound like an accosting pedant and geek but there is another issue: auditors PKF Littlejohn who will have cast an eye over the numbers, have screwed up and the numbers need to be corrected and re-issued. Let me explain:

Collapsing-Reactor
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Redemptions Watch: Neil Woodford’s Income Focus fund – still redemptions every day

Neil Woodford’s Income Focus Fund put on a modest 0.12% in NAV per unit yesterday, according to Morningstar. In theory that should have increased the size of the fund from the previous close of £287.08 million to £287.42 million before redemptions.

DEV
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Dev Clever worth £200m - you is ‘avin’ a Turkish, have a butchers at truly dire interims

Dev Clever (DEV) listed on the Standard List in December at 1p with some true rogues subscribing for placing shares. One of them blogged a thesis that the shares were worth 50p (a £200 million market cap) and that sort of ramping saw the shares reach 13p. Today they are sharply down at 3p to sell after the release of dire interims.

VLX
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Volex – a buy?

Recent results from Volex (VLX) included “over the past year we have continued to deliver on our stated strategy to refresh our customer base and grow our business with both new and existing customers. This has resulted in a significant increase in profitability at Volex, and our group is now in a much stronger position than it has been for many years”. The shares have recovered from sub 50p as recently as early summer 2017 but are down from 100p+ last month to a current 89p offer price…

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CTAI

Catenai – monster dilution

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