By Ben Turney | Friday 16 October 2015
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
There is one thing that the “businesses” David Lenigas sets up rely on; his instinctive ability to promote overvalued paper. Despite this the Lenigas alchemy only works for so so long. As soon as Britain’s best paper salesman moves on from one of his “businesses” (once it’s reached a certain stage of “maturity”, of course) the company’s share price typically follows him quickly out of the door. This pattern has been repeated time and time again. Tom recently pointed out the miserable long-term performance of LGO Energy (LGO), but today it is UK Oil & Gas’ (UKOG) near terminal-looking decline that caught my eye. Worry not though UKOG’ers you have Stephen “I never said 100 billion barrels, although I was captured on camera saying just that” Sanderson at the helm.
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