On June 8 2023 Chris Cleverly’s fraud Tingo (TIO) announced that it had engaged top law firm White & Case to review the allegations made by short seller Hindenburg Research stating: “The Company strongly believes it is in shareholders’ best interests to allow White & Case’s independent review to be carried out unhindered and it is committed to protecting its integrity. As such, the Company intends to make no further comment on Hindenburg’s allegations until the review has been completed.”
I am back with these bonus video shows. I am still re-adjusting myself to zoom so if my face looks a bit funny in part 2 there is a reason. In this show I interview Steen Anderson of Probiotix (PBX) and resources expert Gary Newman with long and short ideas. I also comment on ITV, Canadian Overseas (COPL) and a few macro matters. I hope you enjoy the show.
Since the start of this century, Carl Icahn’s IEP has delivered an annualised return with dividends reinvested of 12.8%. That Buffett fellow has managed just 10.8% at Berkshire Hathaway while the S&P has delivered just 6.9%, the Dow 7.4% an d the Nasdaq 100 7.1%. Icahn’s aggressive corporate activism has paid off.
I was in Chester the other day, at the grittier end of town to pick up my lawnmower. The kids and I decided we needed to do a mini shop so went to the local Asda, a rather down at heel place. The highlight was my two-year-old Jaya insisting she wanted to get the 2 litres of milk and carry it. She promptly dropped it and the plastic container broke spreading milk everywhere. The staff were most understanding. Elsewhere I could not help notice what you see below.
Since I last wrote on Tingo (US:TIO) in late May, the share price has collapsed principally due to a devastating report from Hindenburg Research which demonstrated beyond any reasonable doubt that the company is a complete sham. That it was prepared to call it out as a “brazen fraud” after presumably running this by its lawyers is instructive.
Sharesoc claims to be the voice of British private investors. Do the maths! It charges £45 for an annual membership and membership income in 2022 fell to just £42,509 meaning that it had just 944 and 2/3 members. That is less than ShareProphets and not exactly the sort of army that allows it to claim to speak for anyone, let alone to be the mouthpiece for the hundreds of thousands of mug punters in the UK*.
When America invaded Iraq, it handed its troops a pack of cards featuring the 52 most infamous war criminals it was hunting out. Oddly it did not include Tony Blair on the list. Could one create a Tingo (TIO) pack of cards, Dozy Mmobousi is the King, Darren Mercer is the joker and, obviously, Lyin’ Chris Cleverly is the knave. Alex Lightman is, on this occasion, just a two a penny of hearts. But are there other players? Meet Farouk Rabiu Mudi
