1026 days ago
The Mrs reckons that having to do four hours of commuting a week for about 30 weeks a year is a fundamental breach of her human rights. How lucky she is never to have experienced the joys of 960 minutes twice a day on the London Underground as so many of us have done. The photo below is a remider of City life pre WFH. Do folks really want to go back to this?
1160 days ago
Thank heavens I don’t employ any pieces of skirt, as I must now refer to birds, following Judge John Crosfill ruling today that using the phrase “birds” is sexist. Whatever. I have been using it for years and have no intention of stopping. What is more telling for me is just how out of touch Crosfill is with how the world, my world, of the City actually works. Let me explain why Crosfill, in ruling for plaintiff Anca Lacatus, shows that he should be put out to grass.
1207 days ago
First up thanks for all the tenners for Ian Westbrook. We still have two days to hit the £20,000 make loathsome Neill Ricketts sweat target and are now on £14,694. We are still talking to two potentially generous donors so please do keep the tenners flowing HERE to stop the Versarien (VRS) penny share huckster winning by default. Then onto lying on AIM and also covering up bad news with late releases. I look at Supply@ME Capital (SYME), Verditek (VDTK), Powerhouse Energy (PHE), Cellular Goods (CBX), Escape Hunt (ESC) and, of course, the fraud Zoetic (ZOE). The stench of chumocracy corruption is tife in the City as liars go unpunished. It is most depressing.
1283 days ago
I start with good news on Rogue Bloggers for Woodlarks - see for yourself HERE. Then a few words about incredibly exciting work today at the Welsh Hovel. Then onto bitcoin, China and Argo Blockchain (ARB), which links to Zoetic (ZOE) which really is starting to collapse. Then onto the arrogance of the City, Neil Woodford, Andrew Monk and Hurricane Energy (HUR).
1527 days ago
700,000 folks have lost their jobs since the start of lockdown. And as furlough unwinds and as Boris plunges us, for no reason, into another lockdown there will be many more having to sign on. Among those folks who have kept their jobs many have seen pay ciuts. Just two sectors have seen pay rises: the public sector including the BBC (natch, as they are all frigging heroes) and banking and finance. Showing an honourable candour, Andrew Monk the boss of VSA Capital admits as much below.
1553 days ago
In days gone by, the City would have termed James Benamor “a wrong ‘un”. His antics over the last 96 hours in tweeting out plans for him to return to Amigo (AMGO) and at least one statement which is a slam dunk lie only confirm me in the impression that such an assessment would be valid.
2091 days ago
In this bonus bearcast I comment on today's lack of profits warning from WH Ireland (WHI) and the bailout placing now underway which I had predicted. I look at WH Ireland and its woes but it is symptomatic of an industry in crisis. FinnCrap (FCAP) must warn sooner or later and most of the rest of the Nomad/brokers already have. What is needed is massive wage cuts across the board. Thankfully for supliers of coke and hookers, that will not happen which means a structural and cyclical crisis will claim more casualties soon. If you enjoyed this slating of the City's broken business model why not support the Rogue Bloggers for Woodlarks HERE.
2915 days ago
Turner Pope is a new stockbroking firm set up by my pals "The Mitchell Brothers". If you are bored and free TONIGHT there is free booze and drink on offer and a chance to hear Jerry Randell of Venture Life ( solid business IMHO) and Giles Clarke of Kennedy Ventures who apparently thinks I don't like him. He's wrong of course, I don't know him from Adam but he seems to have a few fans.
3112 days ago
I start with more news on frigana cutting. I am a sweaty wreck after a day of mega slashing as I "take it out" on various folks in the City. Then I cover Asian Citrus (ACHL), Jiasen (JSI) and Taihua (TAIH) before I move onto Johnny Hon and R4E (R4E) then the scams and scum at Golden Saint Resources (GSR) - why won't PR fecking genius Steffi tell us about her shares? Then it is onto doomed Outsourcery (OUT) and then, as we expect more news tonight on Uramin, I ask a few questions about Port Erin (PEBI) another vehicle of my friend Jim Mellon. Oh and there is bad news for a company trying hard to bring jobs and wealth to the grim Northern welfare safaris, DX Group (DX). Moral of the story, let them rot, stick to doing business in the hard working South.
3336 days ago
Okay not full time. In fact not even part time. But I am going to give a lecture to the young folks at the University where the Mrs teaches on 21st October. Normally these impressionable young people have their minds filled with left wing nonsense. But they are in for a bit of a change and a bit of a shock
The lecture is titled “Why capitalism is good for all” with the subtitle “Greed is good”. When I told this to a mad lefty friend of my wife at a Birthday party on Sunday – without mentioning the subtitle - he said “presumably with a question mark at the end”.
This was the fellow that went on to state that sociology lecturers across the South West subsidised the City. That is to say the private sector. Whatever. Naturally
3375 days ago
At no-one is watching a clock yesterday AIM listed Hotel Corp (HCP) directors published a document seeking to thwart boardroom change at this disaster story and save their grubby tax free pay packets. Sadly for them I have obtained a series of emails which show that the document contained a series of lies. Worse still I have obtained accounts showing how 22% shareholder and ex Nomad to Hotel Corp, Shore Capital has coined it in from this vehicle, making millions, as shareholders have lost everything. The directors and Shore Cap oppose Yeoman and wish to pursue another venture similar to the last one which cost shareholders everything but made Shore millions ( and paid the useless board too much for doing sweet FA). I expose the lot of them and am furious.
This podcast contains bad language as I am livid - this story shows everything which is wrong about crony capitalism in the City and on the AIM Casino. I also accuse Messrs Short and Craine of lying to their investors and invite them to sue me for libel as I have the documents which show that my claims are 100% verifiable. See you in court bitchez!
Any shareholder in Hotel Corp should at once contact Yeoman to pledge support at the forthcoming EGM - this will be a proxy fight and everyone should back Yeoman against the lying crony capitalist Derek Short. Please contact Yeoman today on [email protected]
3490 days ago
Tomorrow morning as the General Election polls open I shall be sitting in sunny Kalamata preparing to head out to see the snakes at the Greek Hovel. Fear not Theo Clarke (Con) and Perry Hicks (Con) my postal votes are already in. But on this day many in the City will be away from their desks trying to get the vote out and many investors will be looking elsewhere. In the words of a Labour spin doctor on 9/11 “it will be a good day to bury bad news” and I am told that a number of companies are already planning to do just that. However…
3598 days ago
Topical after the LSE.co.uk blowup, In this podcast I explain how the City really works, how analysts communicate real ideas to a select few investors and why broker notes are in reality simply marketing material and so should be completely ignored.
3641 days ago
I was thinking, as I rode home through ghostly olive groves illuminated by a full moon, about the mindset of Daniel Stewart employees who want to beat me up. My crime is to point out the fact that they have earned vast sums by floating and raising money for frauds, so screwing ordinary AIM investors.
I do not claim to be an Angel but I do not regard pointing out the wickedness of this as being a terribly bad thing to do. But the Crony Capitalists who have grown rich on AIM, the Nomads, brokers, PRs and boards really do not like hearing this unpleasant truth. They actually think I am a bad guy for rocking the boat and as such wanting to beat me up is acceptable.
In 2014 the Crony capitalists have had a good year. Investors on the AIM Casino have had a shit year. I explain why the system is flawed, why the City does not understand the anger we peasants feel and how we peasants ( ie investors) need to start taking concreate steps to make our anger known.
We have 50 free copies of Tom's Book "The 49 Golden Rules of Making Money from Shares" which covers these issues and others to give away today. For your copy fill in the form HERE
3674 days ago
Equities are up. In this podcast, I discuss why but why this is not the start of a bull market. It is temporary coke and hookers time in the City and on Wall Street but only for a while. Next up I look at: Fitbug, ULS Technology & the failings of AIM, Arian Silver and other gold and silver producers, Coms and in detail following a chat with a former bull and insurance guru, Quindell.
3716 days ago
This has it all. I told you the shocking tale of the Mopowered (MPOW) AIM casino disaster story HERE yesterday. Today came news of a placing at 5p to raise £3.5 million (Gross). This just adds insult to the injury.
3717 days ago
MoPowered Group (MPOW) raised a gross £3.64 million at 100p when listing on the AIM Casino on December 18 2013. The shares now stand at 20.5p valuing this POS at just over £3.2 million. And while it says that it is going ahead with a £3.5 million fund raise you’d have to be mad to subscribe as this has red flags all over it. Death is all this deserves.
Of course £3.64 million did not go to the company. The admission document reveals that the cost of the IPO and fundraising was a staggering £700,000. That will have paid for an awful lot of hookers and coke at offices of brokers, Nomads, PRs, accounts and lawyers across the City last Christmas. It is a staggering sum. So where are the shareholder’s coke and hookers?
Where are they? Oh don’t be stupid. We shareholders get no coke and hookers. This is AIM. This is crony capitalism. Our money is simply transferred to the Crony Capitalists of the City. The coke and hookers are all for the Square Mile, not for the peasants. We are just there to pay for them.
3829 days ago
There is little doubt that the two most bombastic men in the City are Avanti Communications (AVN) CEO David Williams and bear raider Evil Knievil. The battle continues as we can reveal exclusively.
3842 days ago
A former leading transport analyst who still retains a very high City profile has this morning launched a blistering attack on Harriet Green the self-publicity addicted CEO of Thomas Cook (TCG). Is this just sexism in the City or is this fair comment. Read on and judge for yourself. Our man writes:
3857 days ago
The Bulletin Board Morons insist that Cenkos, Nomad to Quindell has endorsed the company by publishing a ludicrous buy note with a 90p target. Sorry folks but you do not understand the system and miss the point.
In the City integrated investment banks operates with Chinese Walls between departments. That is to say Cenkos the broker must operate as if it was a different form to Cenkos the Nominated Advisor.
A broker publishes research and helps companies raise money by issuing shares. A Nomad is responsible for regulatory matters. Ultimately it reports to the AIM team and is responsible to the AIM team for ensuring, inter alia, that e very RNS issued by a company has been verified and it’s true.
Hence post the Quindell rebuttal of Gotham
3861 days ago
Globo (GBO) has today served up calendar 2013 results that look as impressive as its luxurious new Athens offices that I visited and filmed yesterday. The numbers have wowed the City – the shares are up 14% at 53p. No doubt the analysts call this afternoon will be a love in with the management. But should any of the teenage scribblers actually want to ask a tough question or two here are 10 to get them started. Many thanks to Matt Earl, the dark destroyer, for this.
3897 days ago
On 20th September I pointed out that Sovereign Mines of Africa (SMA) then 3.5p was almost out of cash and was ramping its shares to get a placing away. Six months later after ramp after ramp of spurious press releases we finally have the placing. The only shock was that Sovereign did not commission an utterly crap paid for research from convicted felon Charlie Gibson of Edison to help with the ramp. The placing naturally screws private investors big time ( this is AIM) and is accompanies by prize winning PR horse shit from Sovereign.
The shares were 1.625p at the close yesterday. The placing is raising a paltry £625,000 (call that £575,000 after costs) at just 1p. So some lucky City folk can flip the stock and make a quick turn and all those suckers conned into paying anything up to 4p during the past six months by those upbeat press releases will be 20% diluted. The advisers make a quick buck, the City insiders on the placing making a quick buck and everyone else is buggered.
Sovereign clearly wanted to raise more
4007 days ago
TXO (TXO) has this morning raised £500,000 at 0.1p. The shares are off by 0.02p at 0.11p. The deal is probably good news for TXO, although the dilution is painful, but that is not the real story here.
The real story is the placing. When TXO started its roadshow the share price was 0.18p. In other words it fell by 0.05p as City investors were made “insiders” and asked to participate in the placing and by just 0.02p when the placing was announced.
So who dealt? Who blabbed? Who broke the law? Surely the share price fall is no fluke? Frankly the idea that it is a coincidence is about as credible as Tony Blair’s excuses for invading Iraq.
This is a clear open and shut case of criminal activity in the City. Of insider dealing. Of crony capitalism. But will anything happen? There is more chance of me getting to shag Cheryl Cole this weekend than of anyone doing anything about this.
The broker to the placing is Northland Capital, specifically a Ms Alice Lane who is as you can see is really rather foxy. I called Alice this morning
4024 days ago
I have received a massive response from investors, CEOs and Nomads to my articled on the Crony Capitalism that is destroying AIM. So what is the solution? Let us start with how money is raised: bring back the rights issue.
Right now for companies on AIM, money is raised by ramping the share price by paying vast sums to PR/IR people to ramp away. Private investors buy shares in the open market. At that point new shares are issued at a huge discount to City insiders who then flip.
4175 days ago
And so someone I respect told me yesterday that I was hated in the City. Not by everyone but in certain quarters. Tell me something I didn’t know. Apparently some folks feel that saying nasty things about companies, advisors, PR firms etc. is just despicable. “Other journalists don’t do it…why do you?” And it gets better.
Apparently this person was told by a well-respected City group not to be seen to work with me because I was being sued for libel by Sefton. To give them credit they did ask the City Group if they knew about the case and was told no. There was just the assumption that if listed company issues libel proceedings then the person it is suing must be a baddun.
Where do you start here? Without commenting on the specifics of this case I would point out that I have had legal proceedings threatened and commenced before. The companies who tried it on before have all disappeared or been censured (in the end) because they were liars or crooks or both. Any trade body/City group which in a blinkered fashion believes that companies always tell the truth and so without doing any research automatically sides with the company in such matters is frankly a joke organisation. Perhaps these folks have never heard of Robert Maxwell or Asil Nadir or Bernie Madoff? Some companies are bent…just accept it.
And so why write articles which point out that certain shares are overvalued, that certain companies are – if one analyses their published statements – running out of cash or that certain companies have issued RNS statements that are verifiably false or over optimistic? Let me think for about fifteen seconds:
