1668 days ago
There are two guests in this week’s show, First up I discuss the clown who runs Sirius Minerals (SXX). Then I welcome Chris Bailey. We discuss where value lies in the market and has the mood music changed, SIG (SHI), Metro Bank (MTRO), Funding Circle (FCH), the crazy share price of Diageo (DGE) and much more. Then my second guest is the legendary bear raider Gabriel Grego of Globo and Folli Follie Fame. We discuss his latest triumph Bio-On and much more. 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.
1668 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.
1745 days ago
The man who exposed Globo (GBO) and Folli Follie as outright frauds is back with a devestating new dossier on 1 billion Euro capitalised Bio-On which is listed on Italy’s AIM market. This looks like a slam dunk zero to me. The dossier from Gabriel and Quintessential Asset Management is below.. as ever we are first with the news….
2110 days ago
It seems like just yesterday that burly security guards tried to grab my camera forcing me to flee as I tried to doorstep the 1 billion Euro fraud Folli Follie at its North of Athens HQ. Since then the shares have been suspended, a criminal enquiry began, the former auditors have admitted that 2017 accounts were pure fiction and now… Folli has put itself into the Greek equivalent of Chapter 11.
2113 days ago
Another day, another release from fraud Follie Follie to the Greek Stock Exchange and, as we all suspected, it is the bogus Chinese operations that were at the heart of this fraud.
2116 days ago
Oh dear, I sense that in my adopted home of Greece there are a few folks heading for the slammer in connection with the Folli Follie Fraud which we helped Gabriel Grego to expose on this website. It seems like just the other day that burly security guards were chasing me away from its HQ North of Athens, as you can see HERE.
2169 days ago
The suspension of shares in Folli Follie on Friday because, after three weeks, it was unable to verify its claimed cash balances is surely the beginning of the end. The Greek Press is today reporting that criminal charges for the bubbles in charge are on the way - see HERE. I like to think I played a small part in its downfall and really enjoyed my doorstepping last week. But the architect of this exposure is my pal Gabriel Grego of QCM although it is only a matter of time before Dan "snot gobbler" McCrum at the FT takes full credit. Gabriel has now commented on the latest news. It is a considered piece. He writes:
2169 days ago
In today's bearcast I start by putting our own in house Bulletin Board loon Wildes in his place over what I write. If you donlt like the Folli Follie and Julie Meyer material ( it will be sub 2.5% of our output this year) feel free to piss off mate. Then I look at the latest bust up at WPP (WPP) which should just come clean over why Sir Martin Sorrell walked the plank. Finally I take apart the latest comments made by the whore blogger Malcolm Graham Wood on POS AIM ramp Frontera Resources (FRR). Wildes is not the only one NOT to have sponsored myself and Brokerman Dan for our 30 mile Woodlarks walk. If you enjoy bearcast I am sure you can spare a tenner so donate HERE - to those who have donated I say thank you.
2169 days ago
Having collapsed by another 25% yesterday to just 4.8 Euro shares in Folli Follie were suspended on the Athens stock exchange first thing today prompting a bearcast ouzo. Initially the company told the Greek media that it was because of all we nasty bears spreading false rumours and creating a disorderly market. Then at 11.30 GMT the awful truth came out.
2169 days ago
Hooray. After this week's doorstepping and podcast special and the work back in Bristol this is a great day. I suspect it is game over and discuss the probable demise of Folli Follie. Never buy a stock on a PE of 1. Elsewhere I look at rumours concerning Nomad Northland, at Echo Energy (ECHO), the fraud MySquar (MYSQ), my letter to Julie Meyer HERE, Sound Energy (SOU), Westminster Group (WSG) - with its revolting chairman ex Tory MP Tony Baldry - and Frontera (FRR) and its latest pre placing ramp. Now come on chaps, if you enjoy bearcast - and I know 1000 of you do every day - please donate £10 NOW to the Woodlarks charity walk - HERE
2171 days ago
Forgive the late bearcast. Blame it on Greek Hovel business. In today's podcast I look at Folli Follie, shares in which are slumping again as I warned you the other day HERE - tomorrow might be D (for Death) Day. I then take up Andrew Monk on AIQ (AIQ), Petra Diamonds (PDL) and the idea of consolidating brokers and Nomads via M&A. It makes no sense Andrew. Then I look at the GoTech (GOT) shambles - its now a dope play but frankly you must be a dope to own this stock. Then I cover Optibiotix (OPTI) again with a point folks like Cynical Bear have missed. Finally its i3 Energy (I3E). Thanks to those who have sponsored me as I suffer the dual agonies of walking 30 miles and having to listen to Brokerman Dan drone on all day, but 99% of bearcast listeners have not yet donated a tenner. Please do so HERE
2172 days ago
For reasons to do with burly security guards explained here I could not record this at Folli Follie. That is probably good as I can now explain the similarities with another Greek fraud (Globo), the looming deadlines and the unresolved questions which make this company likely to implode. That is not to say it does not have some real operations, the photos below are of its flagship store at 19 Ermou St in Athens, which I visited on Monday
2172 days ago
As promised, I trekked up the Great North Road to the HQ of Greek fraud Folli Follie to record a video. My driver was a burly Albanian arranged by friends of mine to ensure my safety. He was a bit more than a driver. I got out to take some photos which you can see below and then I was approached by two very burly security guards who don't want you seeing these photos. The video below shot from the other side of the Motorway explains what happened next.
2173 days ago
Yes, this is the place where many AIM CEOs are not fit to run the public toilets. What better place to record? Excuse the background noise. Yes I am back in Greece - I kept that a secret - and have today door-stepped Folli Follie at its lavish HQ camera in hand. It was an experience. Thank god I had a burly Albanian in a car with a motor running parked down the road. In this podcast I discuss Andalas (ADL) which is still not coming clean and is a prize dog, Roger Lawson with whom I have a good chat last night and who does not trivialise hate mail and R4E (R4E) whose results statement is er.. a mixed bag for we loyal shareholders. PS If you appreciate my bravery and dedication GO SPONSOR ME FOR £10 NOW HERE
2185 days ago
With a little, acknowledged, help from yours truly, Gabriel Grego of Quintessential Capital Management has reviewed the list of 587 POS ( Points of Sale) claimed by Folli Follie on Monday and demonstrates cleary that it is way overstated. Any company caught with its pants down lying about something this basic is clearly engaged in fraud. The shares have recovered to 8.4 Euro but are worth ZERO. This is still free money as a short. Gabriel writes:
2185 days ago
Folli Follie (FF) the Greek luxury goods seller has denied the bombshell claims made in Gabriel Grego's devestating dossier we published on Thursday. I have today verified for myself that FF is lying about its British operations in a release to the Athens exchange today. So as far as I am concerned it is an open and shut fraud and a zero. But here ios Gabriel, the boss of Quintessential Asset Management (QCM)
2185 days ago
I start with a discussion on regulation, estate agents and a doomed UK prompted by the excellent Sunday Times Column yesterday by #LukeJohnsonforPM. Then it is onto Folli Follie. The British may be idling their way through another bank holiday but hard working Greeks are back at work. So we have a weak denial statement from Folli Follie but its Athens based shares which were off 30% are now off only 18% and are bouncing fast. I think this is still a zero and ask you if you can examine this manifest of claimed stores and assist. FWIW I explain why the manifest just does not wash. I am off right now with my camera to the House of Fraser in Bristol. I have made a call already and this will be a "win" for the Bears. Watch this space... - if anyone can do other HoF stores, Selfridges or the Irish ones on this list and get me photos plus what the stores say J'd be grateful.
2187 days ago
Folli Folie, the Greek fraudsters, today attempted to refuse claims by Gabriel Grego that they were lying, inter alia, about store numbers and so in a release to the Athens Stock Exchange published a list of 587 stores. It has taken me one hour to prove clear and big lies on this list as I shall demonstrate below.
2190 days ago
One is, IMHO, a fraud and the other just has a looming cash crisis. Both faced real criticism last week - I discussed how they played and what happens next.
2190 days ago
Shares in Greek uber scam Folli Follie are off by c30% following the publication of Globo (GBO) destroyer Gabriel Grego's damning dossier last night HERE. It has now issued a denial and threatened legal action. I have spoken to Grego.
2192 days ago
At this very moment the man who exposed Greek based AIM superstar Globo (GBO) as a total fraud, Gabriele Grego, has just concluded a speech in New York. Ed Croft need not worry, for once the mega scam Gabriele has debagged, is not a stock he has tipped, as he did with Globo. We have the full dossier Gabriele has prepared and it is explosive.
