By Chris Bailey of Financial Orbit | Sunday 14 October 2018
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.
A few days ago I mused upon occurrences at Patisserie Holdings (CAKE) which I did not own shares in but intrinsically I liked...especially as a customer. It seems to me that my gut feel back then that the combination of a skilful fraudster, poor internal controls and a professional lack of duty from the auditor all contributed. As Luke Johnson - Chairman and biggest shareholder - noted in an article in lieu of his Sunday Times column this week:
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