NEWSFLOW

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In early February last year, I observed here that investment company St James’s Place (STJ) was not worth the then share price of over ten pounds a share.  This was all centred on the view that ramping up the costs of its investments was, unsurprisingly, getting more criticised.  Unsurprisingly, there was a sub seven quid share price a couple of months later, but today St James’s Place shares are kicking around at just shy of twelve quid.  Madness again or has it finally learnt some lessons about running its business attractively?

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NEWSFLOW

NEWSFLOW

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I view St James Place (STJ) as a long term short since it has always and continues to provide a truly appalling service to its customers. You can fleece punters to reward staff and shareholders for only so long but eventually you reap what you sow and for me that makes this company uninvestable. The Dark Destroyer offers up a more detailed financial analysis of why his Shadowfall fund is short. Enjoy

NEWSFLOW

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The oxygen of publicity should never, ever be underestimated. As I noted here, after all the bad headlines and challenges associated with high fees and a dodgy self-serving corporate culture, 'there is only one way out of all of this for St James's Place and that is a root-and-branch business change which is driven by key managers at the top'.  Well finally we might be seeing this. 

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I stand corrected by a reader who clearly knows more about this industry than do I. The reader agrees with my conclusion that profits at St James Place (STJ) will come under pressure which makes the shares ones to avoid but picks me up on factual errors made yesterday in bearcast HERE. The reader writes: