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Bulletin Board Moron Evil Knievil still wrong on Watchstone

By Tom Winnifrith | Wednesday 28 June 2017


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.


I guess if you write for a website that makes the Official Jimmy Saville Fan Club website seem well read and popular, it forces one to also post on Bulletin Boards in order that your words of wisdom/attempts to ramp your flagging portfolio reach an audience of more than three men and a dog. Speaking of dogs - Watchstone (WTG) is stock which bear raider turned Bulletin Board Moron Evil Knievil has long argued is worth 500p. The shares are now 140p ( and falling) after yesterday's massive revelations from me HERE.

My scoop was the claim against Watchstone from Aussie Poltroons Slater & Gordon (SGH). I reckon the claim is strong. Rob Fielding the Quindell (QPP), Watchstone as was, CEO clearly lied to the Aussies and others involved in the sale process too - as you can read in the full claim HERE.

Evil has long argued that the potpourri of Rob Terry assembled fraudulent assets Watchstone retains have a real value although Watchstone has been forced to write down their value several times and they are not generating cash. Yet Cawkwell seems to value Watchstone at a multiple of its net cash. He also ignores te fact that the S&G claim stops there being any payout to Watchstone shareholders until it is settled. That could be well over a decade away.

If I was S&G I would not be tempted to make any agreement until the SFO has arrested tried and got a conviction for Rob Terry, Rob Fielding and others. Given the ongoing cashburn at Watchstone which will increase sharply as this court case kicks off, how can anyone other than a true BB Moron value Watchstone shares at anything other than a steep discount to cash.

On the ADVFN Board, hat-tip Juicin Drumroll for spotting this gem, the Great Bear turned BB Moron addressed his fellow morons:

Gentlemen,

I suspect that Tom W has made a mistake over the strength of the S and G claim. I bought WTG again yesterday. It will take time to be resolved but, in due course, the improbable result of cash coming out of WTG will emerge.

Simon Cawkwell

Ends.

Sorry Cawky the sane stance is "sell" and the target, as explained HERE yesterday, is an initial 26p. And if your comrades in morondom are Gentlemen then I am a banana.


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