Disclosure: Financial Investigative Media Limited, which is not owned by Tom Winnifrith but by a trust for his dependants, owns shares in companies mentioned in this article. 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.

Tom Winnifrith Bearcast 13 January - Ive never met a nice South African - no that's a lie

After today's twitter harassment from Yusuf Kajee of Afriag (AFRI) I was rather reminded of the Spitting Image classic below. But it's a lie. I had a good chat with Jan Nelson of Xtract (XTR) who is a nice South African and I offer a few thoughts on his company and explain why our podcast interview will be in a few days. The it is onto LGO Energy (TOAST) and Jabba The Hutt ramping, Stanley Gibbons (SGI), Premier Oil (PMO), Independent Oil & Gas (IOG) and the China frauds. I also mention the new vehicle of Andrew "piggy" Austin of IGAS Infamy which Nigel takes apart HERE. He is not a South African but should be.

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Comments

Drunken Sailor

13 January 2016, 09:53

Nelson Mandela is one of my heroes. not for being a convicted terrorist languishing in prison for years, but for the example he showed on reconciliation after he was released. The nicest and most competent but unassuming guy I know out here is South African.

Watching the South Africa / Japan game in the last world cup in an audience of 90% South Africans 10% “Neutrals” and 0% Japanese when that last try went over is a memory I will treasure forever.

However I have never met a nice Afrikaans South African and am firmly convinced that the only one that exists is driving Elivis’s double decker bus on the moon.
phil

13 January 2016, 11:25

Drunken

No one has or will ever meet a kind Afrikaans, they have never existed
turbograndad

13 January 2016, 12:38

Tom, with a lot of these shitty companies, and the shitty people and their antics associated with them, you expose them, and as you know when you deal with devil, hay bad things happen, go get em.
wildrides

14 January 2016, 03:42

Stanley Gibbons NAV is a load of overvalued stamps stock . Its like having the goodwill of the plague on the balance sheet .
Sell it and take the hit before it collapses . The stamp collectors are all dying fast of old age and so the customer base just keeps on shrinking inexorably .
andrew

14 January 2016, 11:53

The company has some valuable assets on the books.
You need to bolster the balance sheet.
Do you
(a) Sell some of those valuable assets
(b) Raise money in the markets.

Like you said about Globo, why hold cash and borrow at high interest rates?
Like you commented about oil stocks and the true value of land/equipment/machinery – the stuff is only worth what someone is willing to buy at, and is anyone buying?

IIRC you were fairly caustic on some tackle shops stock levels (as being too high) – and all this stuff is stock.

If SGI were that confident about the value of its assets, surely selling some in excess of what was supposed to be a low book value would bolster confidence, wouldn’t it?

Don’t the same principles apply across different industries?