Sunday March 29, 2015
Should I vote Labour to tackle the Seagull Menace – the hot issue in Bristol East
TripAdvisor – what a bunch of wankers: bogus customer question
Weekly postcard #105 - where is the 10% discount for the true heroes : capitalists!

PERSONAL, UNDILUTED VIEWS FROM TOM WINNIFRITH

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Weekly postcard #106 - Tracey Wright and a glimmer of sanity in the divorce laws edition

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Britain's divorce laws are unfair and archaic but the case of Tracey Wright (who now does not have a meal ticket for life) suggests that at last the Judiciary is waking up to this. I hope that after the next election we see the Government bring legal sanity to the current mess by enshring in law the precedents of the Wright case.

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EMED – Tomorrow’s (Good news) RNS today & CEO chat

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This release should have gone out on Friday but I guess it will go out at 7 AM Monday. In case you can’t wait here is the EMED Mining (EMED) RNS in full and it is good news but EMED is not out of the woods yet. I have also been chatting to the EMED CEO over the weekend – he seems a decent enough guy.

Basically the loans that were due for repayment on March 30th have been extended until June 30th. The company can now draw down on the additional $6 million loan facility. That will give it enough cash to last until mid may. The EMED boss expects to get the final green light for Rio Tinto before then which will trigger another funding round – a mixture of debt and equity to raise c$80 million.

The chat with EMED was constructive and detailed. I will sleep on it and report back in more detail next week.  Meanwhile here is the release: 

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Tom Winnifrith BearCast Extra - explaining the difference between a ramp and a share tip

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For the benefit of one reader in particular this podcast explains the difference between a share tip and a ramp, it explains pump and dump, it looks back to historic cases such as the City Slickers and explains why Bulletin Board Morons use the words differently to normal human beings.

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Quindell – putting the PWC delay into perspective

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In 2014 the esteemed firm of KPMG (Southampton office, three partners) started its audit of Quenron just after Christmas and by March 31 had done enough to allow Quenron to publish the 2013 results – less than three months and the job was largely done. When did PWC start work on reviewing Quindell’s fraudulent accounting policies? Early December 2014.

So that means that PWC, throwing however many staff Quindell’s banks tell it to at the project, has already had just a few days under four months to determine the level of fraud and how big is the black hole at this company in cash crisis.  All of this begs a few questions.

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Tom Winnifrith BearCast - 29 March - should all foreign companies be booted off the AIM Casino

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The returns from Chinese, US and Aussie companies on the casino have been dreadful but should there be a blanket ban on any more non UK companies listing? No. But investors should consider treating all non UK stocks as bargepole stocks and AIM needs to work out how to get "proper" UK companies listing.

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A director share trade is not always a signal for you to trade– ref Interquest, Volex & Quindell

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The conventional wisdom is that you should follow the “insiders” that is the board in terms of buying and selling shares. Sometimes the conventional wisdom is wrong. We can start with buys.

A director share buy is only significant if it is truly material in terms of the net wealth and salary of that director. Looking at many director buys I almost think they are tantamount to market abuse. They are not material and their sole aim appears to be to support the share price. One might refer to the serial Quindell (QPP) buys announced a day at a time after Gotham as a case in point. This was nothing more than an exercise in PR – the willingness of any of those buying back in April 2014 to subsequently dump all their shares at far lower prices clearly demonstrates that.

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Tom Winnifrith Bearcast - 28March

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In this podcast I start with the Footsie - er it is now at 6,855 what was that comrade Malcolm Stacey was saying about when 7,000 was breached shares had to rocket to the moon? Only asking. Then it is onto the sordid tale of Gate Ventures and its latest RNS (sorry for the poor taste Woody Allen gags) and Sorbic International.

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The stupidest Quindell Shareholder of the lot has a fiendish plot to destroy Waseem & Tom Winnifrith

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The competition as to who is the stupidest shareholder in Quindell (QPP) is an intense one with a crowded field but I think I have a winner from the ADVFN asylum, whites123, who has revealed his cunning plan to destroy myself and Waseem Shakoor. The sheer insanity of it all defies belief and involved Gate Ventures (GATE). Whites123 posts today:

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Amanda does not understand the Seagull issue and is cross with me

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I wrote yesterday that I was considering voting Labour because it is only the People’s Party and its local standard bearer Ms Kerry McCarthy that understand the critical important of tackling the seagull menace here in Bristol East and have pledged to put it top of their agenda. My good friend Amanda is cross with me and has sent me a stern email.

Whilst I accept her point that the economy, Europe, crime and other matters are important I am still in two minds. Perhaps her reaction is symptomatic of how out of touch folk in London are with life in the rest of the country? What with their underwater yoga classes and other funny ways I cannot expect them to appreciate the true Seagull peril we face here in the boonies. And only Kerry and the People’s party seem to appreciate this.

On the other hand the smile on the face of the deluded middle class lefty  that is the Mrs when I announced that I was thinking of back Ed Miliband thanks to the sterling efforts of Kerry McCathy has made me think again. I cannot give her that pleasure. Okay, fear not Amanda I have stopped floating and am back with the Tories. But I would like them to stop blathering on about things like the economy and to let us know how they plan to tackle the big issue we face down here. What about the Seagulls Mr Cameron? What are you going to do about it?

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