It is not often that I praise journalists at the FT, home to snot gobbler Dan McCrum. But the Financial Times has today served up a quite brilliant expose of top fund manager Crispin Odey and I very much doubt whether he can survive this scandal. Indeed, he must now fear for his future liberty. This is a #MeToo scandal. The testimony from his victims is chilling.
Did anything happen in UK politics over the weekend? Personally, I was not too surprised that “BoJo” decided not to play given everything that has happened in the last year or two, plus his upcoming Commons Privileges Committee investigation. Of course, he still fancies himself as a returning future prime minister later in the 2020s. My view about what is much more likely over the rest of this decade involves more debt, more tax and slower economic growth in an ageing population world but onto other matters.
It has always amazed me how the paper that purports to be the voice of business has, on so many issues taken a profoundly anti-business line. The FT told us to vote for Blair, to join the EMU and the Euro and to oppose Brexit. Natch it is all in favour of a radical green agenda even if it cripples business in the West. And it cannot get enough of the sort of ESG porn that the FCA also jerks off on every day. Today it bigs up a story about the FTSE Russell Index threatening 208 companies with expulsion. According to the FT:
I start with a few words on the hard working, courageous and heroic teachers. Then it is Barry the Tit from Turner Pope who cannot read and insults the professionalism of Gary Newman but raises a wider point about how AIM and brokerages operate. Barry is a tit but I regard his employer as Best of Breed although if I had my way the breed would not exist if the Casino was run according to new rules I suggest. Finally a look at the idea from Eric "snotgobbler" Platt of the Financial Times that the greatest living investor, Mr Warren Buffett, might be past his sell by date. Hat tip on the last point to Jim Mellon.
I see that the spin doctors for Woodford Patient Capital Trust (WPCT) told their poodles in the deadwood press (the FT) to run a fake news article suggesting that vultures were circling looking to bid for the company and its assets. No-one, not even the PR cocksuckers at the Financial Times, believes that for a minute and the shares have slumped again today to 59p, despite, or perhaps in part because of, the weediest of statements from WPCT.
Anyone who points out how the Financial Times is always on the wrong side of history when it comes to the EU must be a good guy and that brings us to Tim Martin of JD Wetherspoon (JDW) announcing interim numbers today who opines:
Fully-listed Interserve (IRV) saw gyrations in its share price yesterday as news leaked out on several fronts in the battle to restructure the company’s finances. The shares started at 10.26p, fell as low as 9.5p and then rallied hard to close at 15.6p, having been up to 16.6p. So what was going on and have shareholder prospects changed from 8p or 0p?
The Financial Times, always happy to help a company in trouble try to polish a turd with some PR spinning, is reporting that Telit Communications (TCM) is to part company with its founder, 12% shareholder and CEO Oozi Cats on a permanent basis. After our Boston fraudster revelations of last week Oozi had already stepped down pending an investigation by a law firm Cameron McKenna. After our revelations he was toast. But sacking Oozi is not enough after today's bombshells on this website - this is PR spinning and does not address the issue of wholesale fraud at Telit.
Tim Martin is again our4 hero of the day, speaking out against the FCA,m the CBI, the Financial Times and other remoaners" who are trtying to dilute Brexit with disingeneous comment. On the occassion of a trading statement from his JD Wetherspoon (JDW) chain of ghastly plastic pubs, Martin has let rip. The great man states:
A busted clock and all that,Roger Lawson has posted something on the ShareSoc blog for his three readers which is actually bang on the money. Although it is written in his normal pompous and tedious style for once he is bang on the money. His comments refer to secret cautions by the FCA - a system which just does not work.
Following the example set by Paul Warwick the chairman of worthless penny stock Andalas (ADL) in starting a blog, Sir Ben Dover of AIM listed Global Mining Endeavours has decided to follow suit and like Paul promises to be candid in his approach. Blog number twenty one....
The stage is set for the possible collapse of the world’s largest economy, the European Union and the trigger will be Italy’s exit from the euro currency. The Financial Times recently put it this way: "An Italian exit from the single currency would trigger the total collapse of the Eurozone within a very short period. It would probably lead to the most violent economic shock in history, dwarfing the Lehman Brothers bankruptcy in 2008 and the 1929 Wall Street crash."
Dan McCrum is a journalist on a very important paper, the FT. And so naturally he of the microscopic cojones is the heroic scribe who brought down the fraud Globo (GBO) all by himself. In between picking his nose and slapping himself on the pack micro cojones yesterday explained how the downfall was 100% down to him. Welcome to the Dan McCrum Globo timeline. His comments are in ordinary font, my own are in bold.
Hello Share Mongers. While still on the ceiling at the marvellous news that the Footsie had finally sneaked through the all-time historic marker of 7,000, I listened to Tom's Saturday Bearcast HERE. He thinks the share world will soon meet its Waterloo.
Quindell’s (QPP) Interims duly arrived last Thursday and as is so often the case with this company when it attempts to reassure the market, yet more concerns were raised. The share price has now lost all the gains in the run up to the announcement and it would not surprise me if they test the recent 140p low in pretty short order. And the ultimate target is a tiny fraction of that.
The Financial Times today reports that the much heralded Quindell (QPP) deal with the RAC has stalled big time. This is the start of the great unravel for at the bottom of it all is cash. Or lack of it. The FT states:
An FD of an AIM listed company has passed me the following email entitled “Accounting services all above board” sent by Dorothy from blur Group (BLUR). My mind is boggling does this company do irony. Followers of Blur will remember that within the past three months it has been forced to admit that its revenue recognition policies were all over the shop and to stage a rescue bailout.