Saturday August 02, 2014


Run Number Two at the Greek Hovel
My second pair of trousers set for retirement at The Greek Hovel – weight loss update
Transport Issues at the Greek Hovel – Luckily I am Steve Frigging McQueen

PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Feeling Guilt at the Greek Hovel – Not Making the Mental Leap

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There are different forms of guilt that I feel as I sit in the Greek Hovel. The worst is as I peer outside and see the sun shining on a glorious day. Yet I will be heading back inside soon to finish another article on shares, on Quindell or whatever.

In side of me something associate sun and the smell of a Greek hillside with holidays. What on earth am I doing spending holiday time hammering away at my PC?  The Mrs makes that point every time we go on holiday and it is a fair one.

I have not fully made the mental leap that this is not a holiday. The Mrs has bought a house which is one of our two homes. The nature of my work means that sometimes I will live in Bristol and sometimes I live here in the Mani, Greece.  This is my home and just as in Bristol I am working from home.  And so gradually the feelings of guilt about now being down at the beach or just lazing around doing nothing are going.

As it happens

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Piers Linney of Dragon’s Den fame – you have 38 hours left to deliver the bad news on Outsourcery: A Reminder…Tick Tock

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Dear Piers. On 27th June you promised the poor shareholders in your POS AIM listed Company Outsourcery (OUT) that you would update them on how you were going to refinance this POS enterprise during July. Of course a promise from you is worth jackshit. I refer to your IPO prospectus of May 2013…

In that you said that if Outsourcery raised £10 million that would see it through to breakeven. So far you have raised £17.2 million and as things stand breakeven is – at best – two years away, you are burning cash at an alarming rate and net current assets minus debt is negative. The technical term for the position you find yourself in is “fucked.”

Right now your shares are about as attractive as sharing a needle with an Ebola virus victim - so

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Monitise: Weedy non-news, Edison puffer after profits warning: Red Flag Placing Ahoy – Sell – target 20p

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Early this month Monitise (MONI) served up a dismal profits warning. Delays in revenues were – in true Rob Terry fashion – viewed as being for good reasons but once again this company failed to hit targets.  Now we see a weedy non-announcement and an Edison puffery research note all of which are Red Flags. Whatever Monitise says it is running out of cash and a placing is inevitable.

The non-announcement is of an extension of its relationship with IBM. Has that caused Edison to change its numbers? Er… well Edison says it is jolly good news ‘natch but its forecasts are unchanged.

Now to cash. In the profits warning Monitise stated:

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Fastnet Oil & Gas - a bumpy ride but is the story still good? Watch the video and decide for yourself

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It has been a bumpy ride over the past few months for Fastnet (FAST) but its CEO Cathal Friel is an impressive chap and with oil stocks back in vogue is he worth backing? Watch this video from the UK Investor show and decide for yourself.

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Bushveld Minerals at 4.1p worth 49.5p says convicted felon Charlie Gibson..whatever

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Bushveld Minerals (BMN) shares may be cheap but this cheap?  Well prostitute researcher Edison is paid to say nice things but surely convicted felon Charlie Gibson is over-egging the pudding with this note? Decide for yourself. The Honourable Mr Gibson writes:

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Should Short Selling be Banned – Reader Poll Results

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Perhaps we did not give enough options in our reader poll? We should perhaps have included “short selling is okay, unless the bears are shorting a stock I own in which case they should be sent to prison for life immediately.” Anyhow we gave you three options are here are the results:

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Hutchison China Meditech – I’m well ahead on this China share tip but more to come

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Never buy Chinese stocks listed in London is a golden rule of mine. But I broke it last month tipping Hutchison China MediTech (HCM) at an 870p offer. They are now 960p bid after interims yesterday. So why break a golden rule and is there more to come for the shares?

My pal Mark Slater put me onto this one. He does his due diligence and the point about this company is that its largest shareholder is a sort of Chinese Buffett who realises value by spinning out businesses and keeping a majority stake. One fraud and his reputation is toast. It won’t happen.

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Run Number Two at the Greek Hovel

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As I detailed yesterday this was also pretty much run number two of the past two years. My joints felt a little stiff this morning and so I waited until the early evening before setting off.

It was the same route as before. I guess it is about a mile from the hove down to the spring. I ran that happily enough and had a breather at the bottom. It is heading back up the hill I have problems with. This time I managed 200 yards up before the slope got the better of me.

That is about twice as far as yesterday. I walked the next 500 yards of steep slope and then ran the rest – a gentle rise back to the hovel where I bumped into my gardeners and the shepherd.

I sense that he is not a jogging man

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Lizards at the Door – I assist in slaughter at the Greek Hovel

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The light shines out through my glass and heavily gated door at the Greek Hovel. The moths just cannot resist and are drawn to it and what follows is a wholesale slaughter every night.

As I sit here there are four lizards on my door just sitting there waiting for the next moth. When it lands on the door they slowly creep towards it and …pounce. I can see them grab and eat the poor little things through the glass.

Right now there are no moths and so the lizards just wait…

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