73 days ago
Tui (TUI) is a funny old business. Whilst it highlights a ‘global team of travel experts are on hand to help whenever you need us, while the TUI app lets you control your holiday from the palm of your hand’, suffice to say the reality of the backdrop over the last fifteen months has been very tough…even if eighteen months ago it was seeing the opportunity from Thomas Cook going bust. Of course Tui shares have romped over the last year, doubling from a two hundred pence share price last summer to over four quid a couple of months. However, their shares are down by more than 5% today. So what is going on?
543 days ago
This month has been the opposite of December 2018 which saw a steep decline on Christmas Eve which marked a year low on Wall St. Now we are seeing new all-time highs posted practically every day. Even the derided stock markets of Europe and the UK - as represented by the FTSE 250 - are at or near all-time highs…
595 days ago
It was only a week ago that on orders from the evil PR spinners at Mothercare (MTC) the Sunday Times was running a puff piece about how the company was bringing in “restructuring experts” to look at its 79 UK stores (having shuttered another 55 in a CVA not that long ago) which racked up losses of £36 million last year. How time flies for the discredited deadwood press. Today Mothercare has called in the administrators for its UK stores.
608 days ago
There are no guests in this week's show which is sponsored by Open Orphan PLC (ORPH). it is just me, at the end of a momentous day in the world of financial services. First up I discuss Thomas Cook (TCG) and grandstanding by limp dick MPs, executive greed, the failings of NEDs and fund managers and the heroin that is debt. Then the vast bulk of the show is devoted to Neil Woodford. What went right and what went wrong and why? Why the FCA is cuplable and why Woodford should go to jail. What were the warning signs everyone bar this website ignored? Who else is to blame? Why Hargreaves Lansdown (HL.) must be broken up. What will happen to each of the 3 vehicles Woodford was fired from or quit yesterday and how much cash investors wil get back.If you like this and can't wait seven days for more of the same and are tired of being a cheapskate you should listen to my Bearcast every day.
620 days ago
Hello Share Twiddlers. Airlines are a difficult area for me. Not since I ditched my old British Airways shares yonks ago have I dabbled in the sector. As a pilot might say: there seem to be more headwinds than tailwinds. The budget operator easyJet (EZJ) is a company which currently performs above City expectations. But for how long?...
621 days ago
You will remember our extensive coverage of Folli Follie the Greek fraud exposed by Gabriel Grego, one of my free podcast guests today, How I remember being chased from its HQ 20 miles North of Athens by security guards trying to grab my camera! The ghost of Folli Follie (now in administration) is back in the news as Links of London, a British chain it owns has itself gone into administration. 350 jobs are at risk.
621 days ago
Yes my good friend is going to the AIM Awards dinner now that he is an evil PR man ( for Bigdish Ventures (DISH). Elsewhere I discuss the news about the Thomas Cook (TCG) stores and the lesson for Sirius Minerals (SXX). I look at Reabold (RBD), Brady (BRY) and Iconic Labs (ICON) as it serves up a bollocks packed RNS.
627 days ago
In the demise of Thomas Cook (TCG) there was a degree of focus in the Press on the use on Non-GAAP metrics (“GAAP” being generally accepted accounting policies) and Ernst & Young’s role as auditor in auditing those measures. However, the Deadwood Press as usual missed the wider story.
629 days ago
The Financial Reporting Council has announced that it is to open an enquiry into the accounts of Thomas Cook (TCG) for the year ended 30 September 2018. Too little too late you say. Well perhaps, but what is at stake here is the poison at the heart of capitalism, the incestuous relationship between auditors and PLCs.
631 days ago
For those who missed out on Thomas Cook (TCG) which failed in its attempt to blag £200 million off her majesty’s government, the bonds in Sirius Minerals (SXX) - which failed in its attempt to blag $1 billion from HMG - are trading at 33 cents on the dollar.
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