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 28 March: Paul Scott, Ascent loons, in fact everyone is in denial

By Tom Winnifrith

28 March 2016 09:45

More:

Cripes the Mrs listened to me recording this and said that it was jolly interesting. I must have done something right today. On the agenda, I start with global denial, the fake econmic recovery since 2008 and how it will end in tears. I refer to a cracking Zero Hedge article here. Then it is Paul Scott in denial on how management change really changes so little so often. Finally it is Ascent (AST) loons in denial in equating sunk costs to fair value. Folks please if you wish to FYB tomorrow do not let me stop you as you will be able to buy shares we own and will happily let you have. But in all good conscience I must explain why you are bonkers.

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Comments

Marvin

29 March 2016, 06:53

Good stuff Tom. You are sounding a lot more relaxed since getting away.
I remember you calling the correction to the FTSE 100 from 7000 to 6000 and so am wary of going against you but I can’t see a property crash in the UK. A correction of similar magnitude maybe but, even with a subdued economy, not much more and certainly not nationwide.
Slow Eddie

29 March 2016, 11:14

Tom is surely calling the London market a bubble… which is hard to deny. It is. the question is just will the rest of the nation carry on and the London market now falter allowing the more normal relationship between UK and London price rises ( built over 30 years ) to return? I can’t see the property market as a whole suffering in STerm much because the lack of new First Time buyers is going to take time to impact on what is still a shortage. In too many places its still cheaper to buy and pay mg than to rent.