I have been wholly uninspired by Trainline (TRN) shares since the IPO from the “leading independent rail and coach travel platform” back in 2019. The stock has been a bit of a dog over the last four years, although it is little changed from my grumpy update on it earlier this year in May. Is Trainline still an avoid for me?

It is always busy right in the middle of the global quarterly corporate earnings season, but it is good fun too. As I noted earlier this year, Next (NXT) is a very sensible company that continues to move forward so much better than many of its peers. However, life is far from easy for it and, if I am going to add the stock to my pension fund, I still need to see a sub sixty quid share price. Elsewhere, Hargreaves Lansdown (HL.) may ramble on about “net new business of £1.6 billion in the period, up 14% on Q3 FY22”, but the shares are still down year-to-date.

After that apology to most of the citizens of a nation that has turned Philistinism into an art form I discuss the Bank of England hiking base rates by 0.75%. Then it is onto ouzo man and Purplebricks (PURP) before I turn to two gold stocks that could now rocket by Christmas, Kefi Gold & Copper (KEFI) and Bluebird Merchant Ventures (BMV). I own shares in both and both have two reasons for a dramatic near term re-rate. Then Trainline (TRN) where the outlook is not so bright.

I noted a couple of months ago on Trainline (TRN) that the stock was a “distinct Avoid for me…in a year’s time it might announce a full year 2023 profit but it would not surprise me if the share is once again c. two quid and not the current c. three quid share price by then”. Why then are Trainline shares up over 15% today?

But instead, I left a birthday party to record this. Such dedication. I start on why Nigel's Barkby (BARK) piece was wrong.  Then, I look at Shield Therapeutics (STX), Kefi Gold & Copper (KEFI), Naked Wine (WINE), Nostra Terra Oil & Gas (NTOG) and Trainline (TRN).

I guess if you want to go on a train today, then thanks to the striking unions you will be at the very least horribly delayed. How 1970s! Still, at least the interweb exists nowadays. I have shared my cautious views on Trainline (TRN) a few times already and it is not a surprise at all that its shares are down 10% today as I write. It still remains a clear avoid for me…and such a negative view may also be taken by its CFO, as the company announced that “Shaun McCabe, Chief Financial Officer, has informed the Board that after 6 years with the Company he has decided to step down, effective 15th September 2022, in order to assume the role of CFO at boohoo group plc" (BOO). Out of the frying pan and into the fire! No doubt more money is involved but - I would agree Shaun - that in a choice between the two, boohoo is more likely to positively surprise over the next two or three years. Anyhow today I wanted to really turn to drink…or in this specific case Naked Wines (WINE)...

The reference is to the fact that there is only 1 candidate in the local elections where I live and he is a king sized dickhead. From that I move onto interest rates and why they should have been increased by more than 0.25%. Of course we should not be in this inflationary mess anyway. Then it is onto  Vast Resources (VAST), Trainline (TRN), Seraphime (BUMP),Parsley Box (MEAL) and musicMagpie (MMAG). I will try to complete my long promised share purchases tomorrow and to discuss them then.Thank you to all who have donated to Rogue Bloggers for Woodlarks.  We are now at 15% of target but still 97% of Bearcast listeners have yet to chip in. Come on, just a fiver or a tenner: please do donate now HERE. PS The reference to Kirstie Allsop and a podcast is about this one HERE. 

Thursday is always a busy day for those in the world of equities. All good fun in my opinion. So what has caught my eye in today’s corporate updates?

A second podcast on the US elections, analysis results I predicted so accurately yesterday can be found HERE. In this Bearcast I cover Chill Brands (CHLL), what the FCA must do NOW and why Chill is now officially fecked, Darktrace (DARK), Trainline (TRN) and shocking news from Parlsey Box (MEAL) flagged up by Sherlock – surely this demands a formal statement. 

I used to use Trainline (TRN) a bit in the two or three years before the world of COVID-19 emerged, probably more from a convenience perspective than potentially saving loads of money when booking a train journey. Like many people though, I have been on way less than 5% of the train journeys I historically would have been on during the last 20 months. Maybe it might be less than 10% of the 2019 journey norm next year, but suffice to say Trainline should not be getting too excited.

The good news is that Rogue Bloggers for Woodlarks inches closer to target. The bad news is we inch there so if you are yet to donate please do so HERE. In today’s podcast, which will please Matthew and his dog, I discuss Easyjet (EZJ), Amigo (AMGO), Zoetic (ZOE) and the fifth stage of moronism – Trainline (TRN), Bahamas Petroleum (BPC) and Purplebricks (PURP).

Post your entries in the comments section below. The prize is a signed photo of Darren Atwater in his swimming trunks and the contest concerns UK Oil & Gas (UKOG) which I discuss. I also mention Optibiotix (OPTI) en passant, explain how a Supply@ME Capital (SYME) acquisition works and look at Trainline (TRN). 

Yup, if he does an interview with me and my tough questions, shares in Optibiotix (OPTI) go down.  So, going forward, it is only those paid-for interviews with folks like Proactive. “Steve, is your schlonger enormous or gigantic? Why are your shares so cheap? etc etc.” Whatever, I apologise to you all for asking the odd question. Without my malign influence, Optibiotix would clearly be in the FTSE 100. I discuss this company’s prospects and also those of Skinbiotherapeutics (SBTX) where I am also a loyal shareholder. I look at Trainline (TRN), Online Blockchain (OBC) and Vast Resources (VAST).

Thanks to Covid, Trainline (TRN) is pretty screwed and will stay so for a good while. Indeed with leading law firms and others today announcing that 50% of staff days post any lockdown would be at home, the amount of business travel post lockdown is going to crater. The face to face business meeting is like the horse drawn taxi or funny BBC comedies using words like frog, things of the past. Even in pre Covid times, Trainline generated sod all cash. But how did it make that cash?

I start with Joshua’s Advent calendar and my great uncle the jail bird and end with Christmas news from the Welsh hovel which shows how fecking green I am. In between I look at Hurricane Energy (HUR), Angling Direct (ANG), Cineworld (CINE), Trainline (TRN), Frazers (FRAS), Powerhouse (PHE) and Metro Bank (MTRO).

There was a telling exchange in a Downing Street press Conference this week between Jonathan Van Tam and the deputy PM Boris Johnson. The real PM, Princess Nut Nuts, was elsewhere plotting the Long march to a full green revolution. Van Tam suggested that Covid restrictions such as face nappy wearing and social distancing might need to stay in place, essentially, forever. The deputy PM said that he was not so sure about that and it might be good to get back to normal at some point. Cue frosty glances.

And now from Wales, by just 30 yards, it is my new weekly video show. This costs 99p per episode, and you can either listen to, or watch, some sparky interviews with  Chris Gilbert the boss of Fox Marble followed by me explaining why, though I am 80% down, I am sure Fox will multibag from here. Then a very long – and very funny – session with Zak Mir with his top share tip among London small caps, his view on the markets, the real economy and discussions on Supply@ME Capital (SYME), Eurasia Mining (EUA) & the lies of both, on Big Dish (DISH) and more. Finally it is me onSupply’s lies again and also on why Trainline (TRN) miust surely see a share price collapse. You can access the show HERE

In today’s podcast I look at Cineworld (CINE), Trainline (TRN), Novacyt (NCYT), Powerhouse Energy (PHE), Optibiotix (OPTI) and Skinbiotherapeutics (SBTX).

As you can see here, I shall be engaging in a small act of defiance tonight.  In the podcast I discuss UK Oil & Gas (UKOG) - forced by myself to ‘fess up today about what is happening at the Gatwick Dribbler. I look at Trainline (TRN) and explain why the soon to be ex CEO is not a crook, at Guild Esports (GILD), Bluebird Merchant Ventures (BMV) and at Jubilee Metals (JLP).

Today, Trainline (TRN) has served up utterly dismal results for the six months to August 31. They are shocking and indicate that things will get worse and need to be taking in the context of the scandalous behaviour of soon to be ex CEO Claire Gilmartin.

It is not just in mining juniors where some valuations are bonkers or among those stocks that have jumped onto the Covid bandwagon, madness seems writ large across the market. But perhaps there is a madness in valuations which cannot be justified on fundamentals and that is that the market is telling you that are living through another asset bubble?…

I have been on the case of Trainline (TRN) for some time but events this week now mark this stock out as a compelling short.  The deadwood press will not say so because they concern a female CEO, a poster girl for woke corporatism. But since I don’t hold with this PC shite I simply look at the facts.

I speak as a type 2 diabetes sufferer – today’s Covid ramp from Vela (VELA) is total bollocks. I also cover stinky share dumping by the Trainline (TRN) bird, Petra Diamonds (PDL), where I am vindicated again but not holding my breath for BBMs to apologise, Wishbone Gold (WSBN), Panthera Resources (PAT) and POS Mosman Oil & Gas (MSMN) – now in the Minus 99% club. Time for boardroom bonuses all round I reckon, as it places again.

The deadwood press gives Ms Gilmarrtin an easy ride because she is a female CEO so will not call her out for bullshit and her convenient share trading. But, having no truck with such woke niceties being a gender blind meritocrat, let’s tell it as it is on the day Claire has announced that she is to step down as Trainline (TRN) CEO in six months time. For starters, her company has not delivered for investors, is in crisis and clearly never will deliver.

I have today been quite busy on family matters, see HERE, which I find fascinating. I appreciate others may not! In the podcast I look at the general market meldown in the face of the Government going economy wrecking bonkers over Covid. I look at Supply@ME Capital (SYME) and Avant Garde,  Verditek (VDTK) and its idiot investors, Big Dish (DISH), Trainline (TRN), Bidstack (BIDS) FinnCap (FCAP) and a cracking trading statement but questionable morals and Iconic (ICON) and the perils of the sub Standard List.

And now from Wales, by just 30 yards, it is my new, I hope, weekly video show. This costs 99p per episode, and you can either listen to, or watch, some sparky interviews with bear raider Lucian Miers on the markets, the real economy, his longs and shorts and gold and with Harry Adams of Kefi (KEFI) ahead of the most exciting six weeks of his career. Listen carefully to what Harry says, having just bought more Kefi a couple of weeks ago I am delighted with certain matters he raises. Finally, I look at Dev Clever (DEV) and why it should face a full stewards!. You can access the show HERE

And now from Wales, by just 30 yards, it is my new, I hope, weekly video show. This costs 99p per episode, and you can either listen to, or watch, some sparky interviews with Richard Poulden on gold and where it goes next, on the US election but also on Wishbone Gold (WSBN) as it takes a new direction. As a long suffering shareholder, down £30,000, I have a few tough questions. Then I discuss what gold stocks I am buying before chatting to Steve Moore, a man with whom I have worked for all bar a few weeks of his working life. He is this year 38! Frightening. I started the show with a suggestion that we all look back to the 1970s. I end with a look at corporate lying and why it is on the rise and why no-one cares but that will change. Verditek (VDTK) is a case study here. You can access the show HERE

On the exact occasion of my 7th wedding anniversary, I am off to see my father so there is only a brief bearcast from me. Well it’s quite a long one actually but it is recorded early. I start with Carnival Cruises (CCL), then TrainLine (TRN) and then the stinking nest of vipers that is Asimilar (ASLR), Dev Clever (DEV), All Active Asset Capital (AAA), Mark Horrocks, Chris Akers, Novum and Peterhouse Capital. Hold your noses as you listen.

I have had a bit of a soft spot for the oil services company, Hunting plc (HTG), since 2009 when I bought it around 350p, which proved to be its post GFC low having collapsed from around 900p. By 2012 it had returned there. I have dipped my toe at around 185p having read the interims to June 30^th and hope to repeat the trick…

And now from Wales, by just 30 yards, it is my new, I hope, weekly video show. This costs 99p per episode, and you can either listen to, or watch some sparky interviews with Nigel Somerville on gold and where it goes next, on how to play the gold bull market, what stocks to buy and what non stocks to buy and how a gold bug positions the rest of his portfolio. Then Paul Atherley from a non gold miner, Pensana Rare Earths (PRE), a play on all this green shit everyone – bar me – seems to love. And I explain why I have bought Pensana shares even though I think man-made global warming is utter bunkum. Finally two stocks where the valuation is insane: Dev Clever (DEV) and Trainline (TRN). You can access the show HERE

Normally a positive experience with a company makes me much more likely to want to buy its shares.  Back in the day when I used to jump on trains and go places, I used to use Trainline (TRN) quite a lot to book tickets.  At the end of last year it even told me how much money I had saved booking through it.  Well - as regular readers will know - I do love a bargain - and I find the website quite useful in spotting when there is one to be had, especially if I am booking a few weeks in advance. 

Most of the shares I cover here are from a longer term investment perspective, or ones which I think will go a lot lower and are best avoided.