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Notes from Underground – Most read articles for the week ending 18 Feb 2023

By Darren Atwater | Sunday 19 February 2023


 


The most-read non-Tom article this week is by Chris Bailey, How much do you like being “nudged” by Hargreaves Lansdown?,  at No 2 or No 8 including Bearcasts.

The most read ShareProphets stories this week were:

  1. Is Rachel Reeves the most economically illiterate politician in Britain?
    The shadow chancellor does not seem to appreciate that she can only tax the profits of oil companies on their UK earnings and North Sea Operators already pay 75% tax. As the tweet below somehow she seems to think that adding to that tax will both cure inflation and slash fuel prices. I realise that there are many truly economically illiterate MPs, but this one could be Chancellor of the Exchequer by the end of next year.

  2. How much do you like being “nudged” by Hargreaves Lansdown?
    As an investor, you have to accept that you will get some calls right and some calls wrong. I am glad that thirteen months ago, I exited my shares in Barclays (BARC) at north of two quid (as its latest set of numbers have not been taken well this morning). By contrast, I should have been braver and bought Dunelm (DNLM) after visiting its stores a few times over the last six months. What do I think then of Hargreaves Lansdown (HL.) shares after its latest set of numbers earlier today?

  3. The View From The Montana Log-Cabin As Gold Battles A Pull-Back
    Gold finished the week at $1866. Having suggested last week that it could go either way from $1864 at the time, I was wrong – it went nowhere. In the short term, it could head further south from here as corrective forces assert but so far it has held up rather well. Long term, I remain extremely bullish.

  4. Death Spiral Finance. What Can Possibly Go Wrong?
    Providers of loans to small cash- strapped publicly listed companies, (usually, but not always AIM) which are convertible into equity linked to the average prevailing share price (VWAP) tend to get a bad rap in the same way that the loan shark or the “usurer” gets a bad rap. The type of finance which they purvey is known as “death spiral” which says it all. They normally have websites which provide the bare minimum of detail and describe themselves as “investors” or “growth facilitators” or some sort of misleading handle.

  5. BlueJay Mining wants to deceive you - $6 million death spiral
    The management may have changed at BlueJay Mining (JAY) but the desire to mislead investors is very much the same, the culture of smoke and mirrors is intact. Today it announced “Institutional Equity Subscription.” Bollocks. Total bollocks. This is a death spiral.

  6. Caracal Gold – another letter to Andrew Monk as the formal FCA investigation ratchets up
    Andrew Monk of VSA Capital (VSA) has spent the past week sunning himself at the Indaba Mining conference in Zim South, attending cocktail reception after cocktail reception or, as he terms it, working. But now he is back and finds his prized client, Caracal Gold (GCAT), in the midst of a full scale FCA enquiry into insider dealing and market abuse. As the first scalp was announced today, I have dropped Andrew a note.

  7. Boohoo – industrial scale management greed or a spoof? Either one is ( again) the unacceptable face of capitalism
    There is no evidence at all that management incentive plans actually incentivise management to work even harder or take even better decisions that reward shareholders. They are just a free one way bet for the fat cats. If you want a case study look at the 2019 and 2020 plans for Boohoo (BOO) bosses. Had the shares roofed it they would have coined it in without risking a penny. As it happens, despite all that “incentivisation” the shares, 408p back in 2020, have slumped to 49p today. So management need even more incentivisation right?

  8. Why I'm happy to remain invested in Afentra despite some questions over its largest shareholders
    From some of the comments I saw on social media, many seemed to be surprised that Tom Winnifrith covered Afentra (AET) here in a negative way last week, given that it’s a company that I’m invested in and have covered on this site several times, including as one of my buy tips for 2023.

  9. Versarien prize contest – guess the amount of red ink when results eventually arrive
    I realise that I have yet to post the olive oil for to the winner of the readers tips of the year contest. Fear not I shall. But the prize in this contest is a small jar of my home grown and picked radishes. This competition is brought to you thanks to Versarien (VRS) a favourite company of this website whose shares are worth 0p and which is run by a loathsome bully and disgraced ramper Neill Ricketts. To the contest…

  10. Video: The Fed is Creating a Perfect Setup for New Gold Investors
    Keith Weiner runs gold investment firm Gold Standard Institute USA so he is talking his own book.

The most-listened to Bearcasts this week were:

  1. Tom Winnifrith Bearcast: Just how screwed is MJ Hudson, a timeline of deceit and destruction In today's Bearcast I look at Tintra (TNT), Inspirit Energy (INSP), MJ Hudson (MJH) run by the founder of the West Ham United supporters on Linkedin but for whom there look to be no excuses, Bidstack (BIDS) and the Abrdn Smaller Companies IT (ASCI)

  2. Tom Winnifrith Bearcast: buy, sell or hold Jubilee Metals? In today's podcast I look at Canadian Overseas Petroleum (COPL), Mr sock's Zenith Energy (ZEN) and Jubilee Metals (JLP) where my SIPP has a big interest. Should I buy more, sell or hold?

  3. Tom Winnifrith Bearcast: Dicked around by the NHS, in real pain and going back to bed Gosh I hate the incompetence of the overpaid poltroons at the NHS. I explain my latest setback and why I am going back to bed and am in pain. I apologise for a brief bearcast, normal service will, I hope, resume Thursday

  4. Tom Winnifrith Bearcast - looking very grim for Kanabo, it is what it does not say today In today's podcast I remind you to get something in for the special person or people (it is 2023) in your life. I look at Brian Basham's green spoof Net Zero Infrastructure (NZI), BlueJay Mining (JAY), Afentra (AET) and free speech on this site, 8000 for the Footsie and our obsession with round numbers, Okyo Pharma (OKYO) - spoofing on vapours - and Kanabo (KNB)

  5. Tom Winnifrith Bearcast: the importance of bears I am on the mend but very slowly and still in pain so a shorter than normal bearcast covering Home Reit (HOME), Tintra (TNT - target price 0p - and Caracal Gold (GCAT) also a zero despite today's deceptive RNS with Andrew Monk's VSA Capital's name at the bottom. Now back to bed.

  6. Tom Winnifrith Bearcast: is Anglesey Mining a fraud? For reasons I shall explain I know this company well. Is it a fraud like,say, Supply@ME Capital (SYME)? No. But anyone holding since the highs is down 99%. The company engages in sharp practices and I view its assets as worthless. So it will be a zero in the end. How Anglesey Mining (AYM) is still going after 35 years defies belief.

  7. Tom Winnifrith Bearcast: I agree with Warren Buffett not Malcolm Stacey Having wrongly called the stockmarket as a bear, Malcolm is again an uber bull as the Footsie hits record highs, today telling us that Warren Buffett has got it all wrong. Malcolm seems to be driven by FOMO and I explain all sorts of reasons why you might not want to bet the ranch on his call.
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