I'm sorry, but I have a reputation to protect. This is all to do with an excellent cause, which 94% of you are yet to support. Please do so, HERE. I then discuss Bluebird Merchant Ventures (BMV); Amigo (AMGO); Versarien (VRS); THG (THG); Morses Club (MCL); and Argo Blockchain (SPOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOF).
In today's podcast, I discuss Asimilar (ASLR); Dev Clever (DEV); Simec Atlantic (SAE); Powerhouse Energy (PHE); Amigo (AMGO); and Vast Resources (VAST). It goes without saying, but I say so anyway: if you are among the 95%, PLEASE COUGH UP NOW, HERE.
Yesterday, Amigo (AMGO) announced that the High Court had approved its revised business scheme. Since the FCA had withdrawn its opposition, that was no surprise at all. Seeing the shares fly to 9p was also no great shock, given the utterly insane ramping by Bulletin Board Morons. But the shares are now back at 7.5p, and are a fabulous short.
Lucian Miers’ (the bear raider) top three UK short positions are:
Apparently, the chap from the FT may object to me reminding those at the April 5 Woodford event that his paper, like the wretched Mail on Sunday, Daily Mail, Sunday Times et al DID suck Woodford’s PR cock. Elsewhere, I discuss Red Rock Resources (RRR); Skibiotherapeutics (SBTX); Amigo (AMGO); Avacta (AVCT); Inspirit (INSP); and Mirriad Advertising (MIRI).
What does your listed client have to hide? The truth I suspect. But two days of silence on this Standard listed POS really is not good. I look at what is happening in Ukraine and what happens next and suggest that some Ukranians are now not being sensible or reasonable. I cover Omega Diagnostics (ODX), Amigo (AMGO), Guild ESports (GILD) and Predator Oil & Gas (PRD).
I am shortly off to Tesco then will be in action as the family cook. Ahead of that I look at Deepverge (DVRG) run by the arse Gerry Brandon, wondering which will come first, the next trading warning or the next bailout placing, at Mirriad (MIRI) where I disagree with comrade Stacey, Amigo (AMGO), Chill Brands (CHLL), Jubilee Metals (JLP), Supply@ME Capital (SYME), Cellular Goods (CBX), oil, gold and Ukraine and finally at Argo Blockchain’s (ARB) latest news.
The FCA has today indicated that it will not object to the proposed recapitalization and customer redress package proposed by loan shark Amigo (AMGO) but there are a few horrid caveats and a doubling of the share price to 6p is quite literally insane making this a slam dunk short. Here’s why.
The gardening photos from the Welsh hovel will appear later on my own site. Before then I review the 4 retail stocks of the Lucian Miers apocalypse: Versarien (VRS), Supply@ME Capital (SYME), Eurasia (EUR) and Chill Brands (CHLL) and then my 10 stocks to collapse by Christmas. One has fallen so far it is probably not a short now though I would not buy it while three look set to go to zero, possibly as soon as next week in one case. My 10 are Supply, Chill Brands, Versarien, Avacta (AVCT), Wildcat Petroleum (WCAT), Amigo (AMGO), Cineworld (CINE), Argo Blockchain (ARB), Verditek (VDTK) and Tern (TERN). I also look at the oil price and consider whether those sitting on gains might bank a few profits.
In a long podcast I explain why the climate has changed so making it a year for the bears and then explain the common thread and individual reasons for my top ten shorts for Christmas 2022. The terrible ten are Supply@ME Capital (SYME), Tern (TERN), Avacta (AVCT), Versarien (VRS), Chill Brands (FRAUD), Amigo (AMGO),Cineworld (CINE), Argo Blockchain (ARB), Verditek (VDTK) and Wildcat Petroleum (WCAT)
Amigo (AMGO) has today given us an update on the scheme of arrangement which will, almost certainly bit not certainly, eventually see nineteen new shares issued for every one now in issue. Whatever happens, at 3.58p the shares are monstrously overvalued.
I start with Hitpiece – the latest NFT scam. Aren’t all NFT’s scams? I discuss the ephemeral nature of contemporary music as an asset class. Then onto Amigo (AMGO) where – with the shares surging – it is surely ‘a mega’ short. Then it is onto regulatory and ethical failure at Braveheart (BRH) and Chamberlin (CMH), the common links being the scumbag Trevor Brown and the scallywags at Peterhouse Capital. Then on to more regulatory failure at Chill Brands (FRAUD) before I take along look at UK SPAC (SPC) and all who sail in her. Finally a few words on Optibiotix (OPTI) where I plan to catch up with Steve O’Hara later today.
This podcast contains reference to various chats with Lucian on the markets, millennials and on Cake Box (CBOX) after yesterday’s bearcast & the Maynard Paton expose. I discuss what Trustpilot says about the company HERE and Lucian’s road trip to do more due diligence. Re Lucian I also discuss other big blowups that will happen this year and bitcoin. Then there is Amigo (AMGO), Chill Brands (TOAST), MyHealthchecked (MHC), Novacyt (NYCT) and Argo Blockchain (ARB) in light of today’s NFT nonsense but also the collapsing bitcoin price.
When Covid arrived I penned a piece here about the possible impacts on sub-prime lenders, given that the industry was already having issues even prior to that, and have also commented extensively on this on Twitter over the past couple of years.
I write after a day in which shares rallied sharply after Friday’s big sell-off. That shakedown was on fears that the Botswana covid variant or rather the extreme over-reaction to it given the level of hospitalizations and deaths it has caused (0 & 0) could see corporate earnings hammered. I noted on Friday that the sell off was driven by a false fear. Surely even the lunatics in charge of the asylum we call Britain will soon have to accept that the Omicron (an anagram of moronic) variant is no great threat and thus the new lockdown measures will have to be reversed and thus the impact on PLC earnings will be trivial. One would hope so. That growing realisation that our leaders have blundered is what, one suspects, drove the rally.
In today’s podcast I look at Vast Resources (VAST) and why you should read an RNS closely and at Supply@ME Capital (SYME) as I get my dates confused and so, it seems, does it. I consider Eurasia Mining (EUA) – surely a statement needed. I look at Skinbiotherapeutics (SBTX) and at Amigo (AMGO) where surely even Evil must concede defeat at the hands of the FCA on whose side I am on, in this matter at least.
I start discussing Laura Ingalls Wilder and why I read her books to Joshua and as an aside, have an amusing – one has to laugh – tale from Sweden. Elsewhere, I look at MyHealthChecked (MHC), Nanosynth (NNN), Amigo (AMGO), Chill Brands (CHLL) and Dev Clever (DEV). Enjoy the bank holiday weekend. I shall as my mother-in-law is coming to stay. You see, irony is not dead.
Normally companies will do anything they can to stop auditors or anyone else saying that there is any uncertainty at all as to its ability to continue as a going concern, that is to say not to go bust causing investors to lose all their money. But today, loan shark Amigo (AMGO) stresses most clearly that there is a material uncertainty and still its shares are bid higher. Crazy stuff.
Another day and another statement from the loan sharks at Amigo (AMGO), folks who – as a judge pointed out the other day – are A grade bullshitters in the league of Julie Meyer. Yet again, Amigo threatens folks, quite unnecessarily, with the spectre of insolvency. The company’s market update today is just plain disingenuous.
In today’s podcast, I cover Colin Bird’s latest pointless IPO, African Pioneer (ASP/AFP), Galileo Resources (GLR), Amigo (AMGO), Optibiotix (OPTI), Nightcap (NGHT), Catenae (CTEA), Powerhouse Energy (PHE), Sound Energy (SOU), the fraud Zoetic (ZOE), Harvest Minerals (HMI), and how proud I am of my garden.
Being a bear over the past year has, as I have noted many times before, been painful. You expose a company for being a fraud and its shares go up. You reveal that it has lied to investors and…its shares go up. You demonstrate that it is trading poorly and is running out of cash, its shares dip but then, post an oversubscribed placing, start to roof it again. It is unnatural. But it is the way of life in the last blow off stages of a bull market.
The good news is that Rogue Bloggers for Woodlarks is, 3 days ahead of our walk, now less than £3,000 away from our £48,000 fund raise target. If you are yet to donate, please do so HERE. In today’s podcast, I discuss Amigo (AMGO), Wishbone Gold (WSBN), Zoetic (ZOE), Skinbiotherapeutics (SBTX) and Optibiotix (OPTI).
So much for the spike in Amigo (AMGO) shares yesterday in the belief that the Court would agree to its plans to pay customers it had ripped off only very partial compensation. The FCA opposed the scheme since it sees those ripped off getting only partial redress while equity holders keep the rest of the cash stolen by Amigo. And the Court, it emerged this morning, agrees with the FCA and myself and Justice Mills slates Amigo. As for foul mouthed bear raider Evil Knievil…
Good news. We are now at £44,456.89 so almost at the £48,000 target. Please, if you are yet to donate do so today HERE. In the podcast I cover Sosandar (SOS), Amigo (AMGO), Online Blockchain (OBC), Telit (TCM), Argo Blockchain (ARB) and “guru” Michael Saylor, Bidstack (BIDS) and Colin Bird’s Tiger Royalties (TIR) which is a right old dog.
Rogue Bloggers for Woodlarks is now motoring towards £44,000. If you are still to donate please do so here. It might shut me up. Then I discuss: UK Oil & Gas (UKOG), where rebel shareholders can be contacted HERE, Amigo (AMGO), Plutus Powergen (PPG) and the stinky Greek deal of pot play Kanobo (KNB) which I view as a major red flag.
A year or so ago I penned several pieces about the state of the sub-prime loan market in the UK and how I expected major changes to be on the horizon in terms of the way companies providing this type of lending were regulated, and also the potential for mis-selling claims against them.
Oh dear. What have I been accused of now? All is revealed in the photos below. I end by thanking you all as we are now at nearly £40,000 for Rogue Bloggers for Woodlarks. Thanks to all who have donated. To those still to chip in, as we are just c£8,000 short, please do so HERE. Sunday’s training walk will be the most grim yet. In the podcast, I look at Amigo (AMGO), Evil Knievil’s “scum” comment, Hurricane Energy (HUR), Skinbiotherapeutics (SBTX) and Novacyt (NCYT).
This all looks a bit of a mess. Loan shark Amigo (AMGO) needs Court approval for a scheme whereby customers it screwed get only partial compensation. Those customers have been bullied into voting for it by directors making the threat that if the plan is not accepted the. Amigo will put itself into administration meaning shareholders and screwed customers get nothing. The FCA has objected as the directors are lying, there is a fairer way.
The good news is that Rogue Bloggers for Woodlarks inches closer to target. The bad news is we inch there so if you are yet to donate please do so HERE. In today’s podcast, which will please Matthew and his dog, I discuss Easyjet (EZJ), Amigo (AMGO), Zoetic (ZOE) and the fifth stage of moronism – Trainline (TRN), Bahamas Petroleum (BPC) and Purplebricks (PURP).
Well not really and it was a long time ago. But it comes up when I discuss NightCap (NGHT) and why the numbers are all bonkers and it will end in tears. Then I look at Mirriad (MIRI) and ADVFN (AFN) parallels. Finally Amigo (AMGO) where the directors make threats that would be ruinous for them personally if they implement them. As ever, if you are bored, why not donate to a wonderful cause HERE.
I start by flagging up my latest Greek Hovel photo article. In just a few weeks I shall be back and cannot wait. I explain why I write about the place. Then I move to Amigo (AMGO), the fraud Zoetic (ZOE) and the fate of those placing shares, Agronomics (ANIC) and then asking if my mother-in-law is a canary in a coalmine where all sorts of bubbles are set to burst.
Everyone knows that loan shark Amigo (AMGO) screwed tens of thousands of customers. Even the company admits to it. Shareholders benefited from that screw. Amigo wants to pay out just a portion of that screw in compensation, leaving shareholders taking no pain as they get to keep some of the ill-gotten gains. Quite rightly those folks at the FCA have taken a few minutes from wanking off on ESG porn to put a stop to this.
First some more positive news for Aviva (AV) shareholders. A month ago, here, I discussed the positive decision that the UK listed insurance giant would sell its French business. Today it also announced the sale of its Polish business and yet again it is for a decent amount of money of over Euro 2.5 billion. This means that Aviva is now almost exclusively focused on their UK, Ireland and Canada businesses but also later this year can choose to pay a special dividend or seek to build further its core businesses. Frankly, I would do more of the latter, even if the yield is already c5%. As noted a month ago, I remain positive on this one and have a target share price well above the current 400p level.
Shares in loan shark Amigo (AMGO) are down by 12% today to 12p on what appears to be, well what most certainly is, a regulatory setback. But one loyal shareholder, the infamous short seller Simon Cawkwell, aka Evil Knievil, is not deterred and tells me that the shares will still hit 20p and could even go to 30p. The setback first:
I start with the wonder vaccine. Is it a cure all for companies such as Cineworld (CINE) or Carnival (CCL)? Then I consider Julie Meyer in light of the research I was doing yesterday for the Gewanter case and what it says about the UK’s rotten honours system. Then I look at Inspirit (INSP), Countrywide (CWD), Amigo (AMGO) and Escape Hunt (ESC) where I stand with Steve, not Justin the Clown.
I start with the US election and stand by my prediction, a win for Donald J Trump, but it will be close so I could well be wrong. Then it is onto Inspirit (INSP), Versarien (VRS), Amigo (AMGO) and Telit (TCM).
Let’s start with the good bad news from this provider of usurious loans to folks who cannot afford traditional credit and are too stupid to understand what getting a mate to guarantee such a loan really means. The good bad news is that, with the FCA breathing down its neck, all 25,571 complaints about mis-selling received by July 3 have now been dealt with by Amigo (AMGO).
On Amigo Holdings (AMGO) last week I wrote is new CEO going to like the regulator’s answers?. Today “Asset Voluntary Requirement with the FCA” announcement – and the shares currently at 9p, more than 10% lower…
It is a week exactly since my father’s death and I accept that my work is substandard and apologise. It is hard to lift myself from this slough of despond. In today’s podcast I cover Inspirit (INSP), Wishbone Gold (WSBN), Kefi (KEFI), Boohoo (BOO), Amigo (AMGO), Contango (CG0) and i-Nexus (INX).
An “open letter to shareholders” from recently-appointed CEO of guarantor loans company Amigo Holdings (AMGO), Gary Jennison, includes that he needs to ask the regulator “questions and listen to their answers”. But is he going to like those answers?…
I am in Shipston with my father and start by discussing how I deal with phone calls here. I look at another crazy Covid story and then at Versarien (VRS), Amigo (AMGO), Vela (VELA), Falanx (FLX), Cineworld (CINE) and at a clever arb for fools like Zak Mir who believe in Supply@ME Capital (SYME), that leading enterprise from the province of Norfolk.
Of course he cannot answer, or not truthfully anyway. And that is the giveaway. Elsewhere I look at what has really happened at Big Sofa (BST), the AA (AA) which is toast, Amigo (AMGO), Asimilar (ASLR) and Dev Clever (DEV). Now to go put frozen peas on my hand and arm.
Of course that is not what Benamor intends to do but it is what he achieves in a long diatribe posted on the internet in which he, naturally, paints himself as the hero of the tale.
Lucian Miers: I wrote recently that I thought that Amigo Holdings (AMGO) was a prime candidate for bankruptcy by the year end. While I still think this is the case, I have closed my short for now as I expect a lot of volatility as this wonderfully entertaining soap opera reaches a crucial stage later this month…
I address this point first. The poems to which I refer can be found HERE. Then I look at Amigo (AMGO) where my pal Lucian Miers has got it 100% wrong before considering Pensana Rare Earths (PRE) where folks were right to ignore the advice of HotStockRockets. This play on green shite will, I sense, head far higher.
Chutzpah: extreme self-confidence or audacity, usually used approvingly.
Instinctively, I back an entrepreneur against corporate suits, a founder against professional managers, a rebel against the board. But in the case of Amigo (AMGO), I cannot back founder entrepreneur James Benamor as he tries to oust the board due to the fact that Benamor is an A grade bullshitter.
I’ve been following the whole saga surrounding sub-prime lender Amigo (AMGO) for some time now, as well as the whole of this sector in general.
I don’t need to tell regular readers what I think about Amigo Holdings (AMGO). Two years ago here, I first wrote down the ‘Amigo is no friend of mine’ line at a share price for the guarantor loans lender a mere twenty times what you can buy them for in the market today. I could not understand the business rationale or ethics. I also do not need to tell you about the general tone of commentary on this website – primarily from Tom and myself – about Amigo in the two years since. It is a horrible business which should never have been allowed to list a handful of years ago. However, recent months have added further levels of controversy…
It is now only four days till my 7th wedding anniversary. Given my track record, I reckon that merits a round of applause. After you have finished the applause, I will apologise to Mr David Lenigas. If I have ever given the impression that he is a shameless ramper of worthless penny stocks, having considered his recent tweets on Wishbone Gold (WSBN) where my losses are now down to a mere £27,500, I would like to apologise. I now accept that Mr Lenigas provides quite brilliant and clear analysis of undervalued gold juniors and we should be profoundly grateful for his services. Elsewhere, I look at Avacta (AVCT), Novacyt (NCYT), Scancell (SCLP), Rurelec (RUR), and Amigo (AMGO).
I start with a brief discussion of Rule Britannia where it is clear that the BBC and others (including the Mrs) have not actually read the words or studied their history. I will do a much longer piece on this when back from seeing my father in Shipston. I look at Asimilar (ASLR), All Active Asset Capital (AAA), Mesh PLC, and Chris Akers – a scandal where the unravel is surely underway. I comment on DFS (DFS) and furlough economics, on Iconic Labs (ICON), and on Amigo (AMGO) as well as on Xtract Resources (XTR), where there is yet more good news making you who followed my tip and I who bought shares even richer. Also covered is NoGold who has no gold exposure and lambasts me for tipping gold shares and making you all richer… even more of a miserable old git.
London millionaire liberal elitist, our own in-house Euro Loon Jonathan Price, faces house, or should I say mansion, arrest within days. About bloody time. I joke with him on email but I am not sure he sees the funny side. After that digression I discuss Red Rock Resources (RRR) – do you believe Andrew Bell? – Amigo (AMGO), Sunrise Resources (SRES), Cobra Resources (COBR), and the very odd price movement at joke company Anglesey Mining (AYM). Cheryl Cole gets two mentions in this podcast
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.
Get out the popcorn then for the Amigo (AMGO) show on Friday 28th August when it releases its delayed first quarter results. A Friday in late August just before the Bank Holiday weekend, what could it be looking to hide? Don’t worry Amigo Holdings, the fine folk at ShareProphets will be all over the update. As a starter for ten, it announced a further extension of facilities although noted ‘adequate liquidity to continue to fund operations’. So many cultural and financial issues with this one still. You certainly cannot say that about Cranswick (CWK)…
I can understand why investors are unwilling to sell, or short, companies which trade at a significant discount to NAV, some even being tempted to average down, or in the case of new, would be value seekers, to pile in. Particularly with indebted companies this is a dangerous game and more often than not, the bigger the discount, the bigger is the danger…
I cover this company whose shares were up by 500% at one point today. Does Synairgen (SNG) really sit on a gold mine? I also look at three David Lenigas related situations: Empire Metals (EEE), Pires (PIRI) and UK Oil & Gas (UKOG). With regard to the last of the three, I mention Jubilee Metals (JLP), in which I bought some more shares today. I also discuss the "it's too good to be true" rule ref Amigo (AMGO)
When a boss with a good reputation joins a company with a bad one, it is always the latter that emerges intact. Jonathan Roe was unveiled today as the new chairman of Amigo (AMGO) and his CV looks good. It will not stay that way. Amigo also unveiled its results for the year to March 31 2020 and they are dire. But there is far worse to come and you would not bet much on this company even surviving.
i comment today once more on Boohoo (BOO) but also clarfify my position on the minimum wage as I seem to have confused some of you. I also look at Amigo (AMGO) the biggest market riser on Friday but I am not so sure it is justified. Finally, it is just 13 days to MineProphets, please make life easy for Darren and book your ticket early, ie today, HERE
I discussed this with reference to Amigo (AMGO), at length, a couple of weeks ago in my new video show. Today another warning from the company shows that it is past the stage of making windfall profits from screwing its customers in any orifice going, and is now suffering the blowback on that which will, in due course, wipe out shareholders completely.
A new week...but some matters do not change. First is perennial bad boy Amigo Holdings (AMGO), whose shares are down a further 25% on news that the company has 'continued to see a substantial increase in the rate of complaints'. Well there is a surprise...not!...
And now from Wales, by just 30 yards, it is my new, I hope, weekly show. This costs 99p per episode to access and you can either listen or watch very sparky interviews with our in house oil guru Peter Brailey not holding back with a new explicit warning on gas, Stuart Ashman of Skinbiotherapeutics (SBTX) who was so impressive I have just bought more shares and myself on how gravity cannot be defied forever with reference to zeros in waiting, Amigo (AMGO) and Intu (INTU). You can access the show HERE
We live in mad times. In the wider world I see that cartoon Police Dog Chase, from Paw Patrol, is about to go the way of Thomas Guy and Gladstone and become a non-person. On the stockmarket we see shares in companies that had said they are in a real mess, entering Chapter 11 in the USA, or talking to an administrator in the UK, roof it. This is all sheer madness and cannot last. I offer you two UK examples...
You may not like my joy at Donald Trump beating crooked Hillary Clinton in 2016 but I called the vote correctly and explained in detail how and why I thought The Donald would win. It matters big time for equity investors who wins the General Election in November but also who triumphs in House and Senate races. I offer up my first detailed thoughts. Then I look at Amigo (AMGO), Intu (INTU), Novacyt (NCYT), Avacta (AVCT) and Open Orphan (ORPH). Finally, we are now at an amazing 65% of our keep Woodlarks alive rogue bloggers appeal target. With my big walk now just 5 days away thank you to those listeners who have donated. To those who have not please do so HERE.
Where did it all go wrong for Amigo Holdings (AMGO)? Regular readers will know I have been following this car crash for a good few years now and today's update is just another step in its demise. The sooner this one is de-listed the better...
Four reasons to be happy: Joshua is back at nursery, my daughter has arrived for a week long holiday, I seem to be set for another £50,000 unexpected pension windfall ( bring on retirement!) and my latest premium podcast with Aidan Bishop, Matt Earl and me is a humdinger and is live HERE. Elsewhere I have frank words with Colin Bird and discuss Galileo (GLR), today's discussions with the FCA, Amigo (AMGO) and Powerhouse Energy (PHE) . Oh, PS, please dionate your £10 HERE
Another new month, another set of disclosure at bad boy Amigo Holdings (AMGO) which shows that the financial markets are a soap opera without parallel. For those of you who want some elements of the backstory, then check out this posting a month or so ago. Anyhow across a couple of regulatory updates, the company has admitted…
You all know my long-held views on the oh-so-flawed guarantor lending business Amigo (AMGO). Back in early March I observed about the latest headline grabbing shenanigans that 'Don't you just love it when a company and its founder/largest shareholder fall out?'. Well that story has taken a further little twist at the end of last week.
Business first then pleasure. There were solid updates from two of my larger cap naps this morning in the form of GVC Holdings (GVC) and Aviva (AV.)…
In short no, although this virus could well be far larger than some folks (Lucian) think. Elsewhere I discuss useless research from broker Goetz and Optibiotix (OPTI), Future (FUTR), Amigo (AMGO), Iconic (ICON), Oracle (ORCP) and Petra Diamonds (PDL)
Just when you think a story has little more to give...it takes a turn so ludicrous that you cannot quite believe it. Yes, forget soap operas, the financial markets have far more bonkers twists and turns. For well over a year now I have warned you to avoid like the plague Amigo (AMGO) and even - a few weeks ago - noted the shabby tactics of the company's founder here who has made a fortune whilst customers and silly fund managers who bought the stock upon listing have lost a packet.
The headlines this morning are full of stories about the royal family and money. That is all a bit grubby. Meanwhile in the corporate world I see the James Benamor, the founder of Amigo (AMGO) - the guarantor lender with a desperately flawed business model which I have described before as no friend of mine - has just paid paid himself a £2.9 million dividend via his holding company.
Regular readers will know that I am a complete investment geek and therefore will not be surprised that I regard the two hours I spent during the summer discussing corporate whatevers with a representative of corrugated board producer DS Smith (SMDS) as one of my highlights of the year. I last wrote (briefly) about the name HERE and told you to continue buying/accumulating the stock, a view which has been sensibly remunerative even taking into account today's surprise 4% fall in the shares post the interim results publication…
I know it is Black Friday tomorrow but if you want some black humour then I point you towards an article in this morning's broadsheet press about the horribly expensive lending facilitation company Amigo (AMGO) which observed that 'Investors who bought at 275p in the flotation in July last year have lost 78 per cent of their money'. I can imagine the wealth of many people who have utilised the company’s services has been equivalently impacted...
On my last bearcast before I flee to the Greek Hovel (cue calls from Bulletin Board Morons that I live in a hovel as I am a peasant and that I am evading justice for some crime or another), I discuss today's chapter of retail-aggedon (Clarkes), the Neil Woodford Rutherford International (RUTH) £32.5 million black hole and why Amigo (AMGO) is almost certainly not on a PE of 3 and almost certainly not cheap.
Yesterday was a good day in the markets: the FTSE100 put on 1%. Of course, the FTSE100 is not the benchmark for Neil Woodford’s two unit trusts – that is the FTSE All-Share index, which put on 0.87%. So it is perhaps a tad disappointing that Woodford Equity Income Fund (WEIF) dropped by 0.07% in NAV per unit, although not as disappointing as Woodford Income Focus which managed to drop 0.89%. Oh dear...
Two pieces of good news today...and it is not that the end of the week is getting closer (because you know I love all this business intrigue almost 24/7). First, I was glad to read that my mucker PZ Cussons (PZC) - which I last loved up here - has done a sensible deal by entering into an agreement to sell its Greek food subsidiary Minerva and its Polish personal care brand Luksja…
Rogue Bloggers for Woodlarks is now just £124.82 shy of its £50,000 target. If you are yet to donate, today is your last chance so please do so HERE. I have another warning from the crooked leprechaun Brian McDonnell of US Oil & Gas (USOP) and i discuss why, at every level, Amigo (AMGO) is uninvestable at almost any price.
It has already been established that I am not a do-gooder when I invest. My personal lifestyle is really quite boring but buying tobacco, alcoholic beverage, defence or gambling stocks - among other demerit areas - is really not an issue for me at all. Frankly, I would rather be this way around than some charlatan who sticks out the well-worn 'do as I say not as I do' line. However there are listed companies out there that I just take an immediate dislike to...and this brings me to Amigo Holdings (AMGO)...
I think most regular readers will know that I like spin-offs as a liberated management team has a greater chance of showing some entrepreneurial zeal. So today's confirmation by the slightly boring FTSE stalwart Smiths Group (SMIN) that it will be pushing ahead with the separation of its medical division is a victory for both common-sense...and the activist on the company's shareholder register…
AJ Bell (AJB) made its introduction to the London Stock Exchange this week and it promises to be a great few days for those that got in on the IPO, with shares soaring almost +35% within the first two hours of trading. The tips have already started rolling in; Miles Costello (The Times) recommends buying as “the shares weren’t aggressively prices, and offer considerable growth and yield potential”. In this week’s article, we take a look back at tipster and broker sentiment towards three other key IPOs over the last six months: Amigo Holdings (AMGO), Aston Martin (AML) and Quilter (QLT).
Back in late August I wrote an article about Amigo (AMGO) following the IPO of the 'pioneer of the guarantor loan concept for the non-standard market'. Having concluded last time that 'Amigo is no friend of mine, neither as a user, an underlying lender or a potential share investor', how did yesterday's first half numbers look?
I know somebody who regularly trots out the line 'all that matters is how much money you make'. I am a big supporter of capitalism and laissez-faire thought but this is such a naive statement to make. Economists would talk about the need to factor in externalities and additionally I would cite that life is a trade-off problem...and a single minded pursuit of money, to the detriment of absolutely everything else, tends to bite you where it hurts at some point. Now before I convince myself that Jezza is the red saviour of our proud country...time to talk about Amigo (AMGO).