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Tom Winnifrith Bearcast: Mark Dampier of Hargreaves trousers £5.6m days before the Woodford shite hits the fan, having been the ramper in chief
In today's bearcast I look at the 5.6 million questions Mark Dampier has to answer in the wake of the collapse of the Neil Woodford empire. I also look at how the contagion could swamp one of Hargreaves Lansdown's (HL.) own fund of funds unit trusts and at the massive COIs at Hargreaves which the Woodfiord scandal reveals. I look at Redde (REDD), Surgical Innovations (SUN) and give a direct answer to Roger Lawson as to why I will continue to call out the corrupt and useless deadwood press even if it means no coverage of the achievements of this website. It is called feeling comfortable with yourself, Roger, for telling it as it is. Postscript: Late tonight it has been announced that shamed Dampier is to "retire".
- By Tom Winnifrith |
- 7 June 2019, 15:06 |
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The Neil Woodford pain continues as NAV slips and stampede of redemptions continues at Income Focus. Tick-tock, how long to suspension o’clock?
Yesterday I showed that redemptions at Woodford Income Focus Fund (IFF) had been 6% the previous day. This morning it is down again sharply – and so is Woodford Equity Income Fund (EIF) despite the gates being firmly shut.
- By Nigel Somerville |
- 7 June 2019, 11:47 |
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Fat Bastard Malcolm Graham Wood & the Bulletin Board Morons time to apologise – Frontera Resources officially a zero
Oh dear. All the abuse I got from folks who insisted that I was wrong in calling out the fraud that was Frontera (FRR). All those folks who quoted the whore blogger, fat bastard Malcolm Graham Wood who took undeclared payments from Frontera to say how cheap its shares were. Will the whore blogger apologise to those who believed him? Will the morons apologise to me? For today IG is paying out on short positions valuing Frontera shares at 0p. Its bust.
- By Tom Winnifrith, The Sheriff of AIM |
- 7 June 2019, 11:40 |
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Can Neil Woodford avoid being sacked again today? Er….what of WPCT?
Sorry Neil. It was an attack of commentator’s curse so it is all my fault that you were sacked after-hours yesterday by Openwork from your job managing the Omnis fund. Obviously it was nothing to do with you. The question now is can you avoid getting the tickety-tack today. With no more external funds to be sacked from, having lost your jobs with St James’ Place and Openwork….oh, and Quilter a few weeks back, you might be feeling a little more confident on that score today.
- By Nigel Somerville |
- 7 June 2019, 10:39 |
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Diversified Gas & Oil - over to PWC to explain why its accounts must be restated
As I noted in my earlier bonus bearcast, Diversified Gas & Oil (DGOC) or its agents at Cenkos, Stifel and Mirabaud are almost certainly briefing the dumb fucker insitutions who own this stock that I do not understand IFRS 3 and so my claim that its accounts grotesquely overstate "profits" and must all be restated are hogwash. Au contraire...I now refer you to PWC.
- By Tom Winnifrith, The Sheriff of AIM |
- 7 June 2019, 09:54 |
Columbus Energy Resources – 2018 results, exciting drilling campaign ahoy!
Columbus Energy Resources (CERP) has announced 2018 results and that “in particular, the company is looking forward to commencing our exciting drilling campaign in the SWP during the second half of 2019”…
- By HotStockRockets |
- 7 June 2019, 09:54 |
Gooch & Housego – “Directors' Share Purchases”… don’t convince me much
Writing earlier this week on Gooch & Housego (GHH), I questioned “dividend increased… reflective of the directors' confidence in the business going forward”. There was subsequently that day a ‘directorate share purchase’ announcement – and there’s subsequently been another one…
- By Steve Moore |
- 7 June 2019, 09:53 |
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Tom Winnifrith Bonus Bearcast: Sam Antar needs to give Diversified Gas & Oil a masterclass
My good mate Sam Antar was, in his Crazy Eddie's fraud prime, a master at dealing with press and analyst critics. Diversified Gas & Oil (DGOC) is not a fraud though its accounts stink to high heaven. The way it has dealt with my legitimate and hard hitting cricism has been amateurish. As I am such a nice guy I explain what Sam would have done.
- By Tom Winnifrith |
- 7 June 2019, 09:23 |
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Watchstone (Quindell as was), a Canadian legal body blow and the £18 million claim it is hiding
In the dismal annual results for calendar 2018 published on May 9 Watchstone (WTG), Quindell (QPP) as was, claimed to go into great detail on the various legal cases it faces thanks to the activities of its former boss, the King of the Fraudsters, Rob Terry. Except it didn’t. On April 11 it suffered a massive blow in a C$30 million (£18 million claim if faces in Canada from Aviva. This it omits to mention in its finals but luckily I can bring you full court documents and a release from Aviva’s lawyers below….
- By Tom Winnifrith, The Sheriff of AIM |
- 7 June 2019, 09:19 |
CAP-XX – argues “increasing confidence”, but what about that cash burn?
Previously writing on CAP-XX (CPX), in April I reviewed trading update including “has achieved success in securing orders”… so why further share price decline? – the shares down to around 4p. They’re currently again around this level – and we have another “Trading Update”; why at 9:03 am?...
- By Steve Moore |
- 7 June 2019, 09:18 |
Maybe it's Because I'm Not a Londoner that I Like this London investment group
Hello, Share Twisters. It’s a good wheeze, methinks, to keep up reminders of a successful company if it continues to show potential. Even more so when general economic circumstances are in such a shaky state. So allow me to return to an old favourite: City of London Investment Group (CLIG)...
- By Malcolm Stacey |
- 7 June 2019, 09:15 |
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Another after hours utter Neil Woodford SHOCKER – Worthless Proton calls him for £25m, so who will pay?
I have flagged up repeatedly that one almighty headache for Neil Woodford is that NEX lobster pot listed joke company Proton Partners International (PPI) has a legally binding right to demand up to £70 million in equity investment from Nei Woodford’s funds. Given that its shares have traded once in the 3 and a half months since its scandalous IPO this is a real nightmare. At 5PM today we learned Proton has called Woodford for £25 million…questions, questions…
- By Tom Winnifrith, The Sheriff of AIM |
- 6 June 2019, 18:46 |
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CORRECTION: Neil Woodford – a better day today! (All things are relative, not fired by anyone till late afternoon)
Well, the Income Focus Fund hasn’t been suspended yet and nobody’s sacked him today. Ooops TW Correction, it has just em erged that the mandate to manage the £330 million Omnis Fund has been terminated by Openwork. Woodford is utterly toxic. So, as Nigel was saying, until late this afternoon no-one had sacked Neil Woodford so that counts as a good day....
- By Nigel Somerville & Tom Winnifrith |
- 6 June 2019, 18:41 |
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Tom Winnifrith Bearcast - Diversified Gas cannot respond - is it the best short on AIM?
I start with a few reflections on D day from my own family history. Then I look at Neil Woodford and what needs to happen.Then at unfolding events at Diversified Gas & Oil (DGOC) which make it, arguably, the most compelling short on AIM. Do folks understand the scale of what is going on here? Then I cover Motif Bio (MTFB), Cabot Energy (CAB) and finally Blue Jay (JAY) another truly compelling short.
- By Tom Winnifrith, The Sheriff of AIM |
- 6 June 2019, 12:46 |
Autins – little more than two months after “FY2019 will be a year of positive momentum”…
Previously writing on automotive acoustic and thermal insulation group Autins (AUTG), in March I noted the shares up to 34p to buy on the back of Chairman & CEO (though the announcement doesn’t seem sure!) share purchases. However, I noted these small and following results showing finances further deteriorating. Now a “Trading Update”…
- By Steve Moore |
- 6 June 2019, 12:46 |
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Woodford Income Focus – how long until this is suspended too as the contagion spreads?
The smaller unit trust run by Neil Woodford, the Income Focus Fund (IFF), has had a torrid time ever since it was launched and trades way below the launch price of the accumulation units. But with Neil Woodford now in the headlines for gating his flagship equity income fund and even his staunchest supporter – Hargreaves Lansdown – suggesting that investors consider their position in IFF, much as predicted on this fine website, it seems that redemptions are running at stampede levels. How long can Neil Woodford survive this before he has to gate IFF too?
- By Nigel Somerville |
- 6 June 2019, 11:36 |
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Joules utters that rare retail profit jewel: 'upper end of analysts' expectations'!
I asked the question back in December 'is Joules (JOUL) a retail jewel?' – and, based on the last six months, and despite everything going on in the general retail space and on the High Street, the answer has to be 'yes'...
- By Chris Bailey |
- 6 June 2019, 11:33 |
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How soon will Woodford Investment management go bust?
In short it all depends on the greed of Neil Woodford himself. Let me explain.
- By Tom Winnifrith |
- 6 June 2019, 10:29 |
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Big Dish – why is this not slam dunk market abuse? Hung by its own words as placing announced
I like the chap behind Big Dish (DISH) so it pains me to say this but as it announces a placing today can it please not tell me why it has not done an Elon Musk “funding secured” grotesque act of market abuse? Let me explain:
- By Tom Winnifrith |
- 6 June 2019, 10:01 |
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Great news for I3 Energy – & I will continue to hold my shares
I3 Energy (I3E) has had a bit of a bumpy ride of late, largely thanks to some untrue rumours which were being spread by certain individuals on social media, but the uncertainty has now been resolved following the latest news from the company...
- By Gary Newman |
- 6 June 2019, 10:00 |