Tom Winnifrith Bearcast: I hope Persimmon's Mr Fairburn tells the fat cat fund managers where to stick it & keeps his £110m

The scandal over fat cat bonuses at Persimmon (PSN) is something that we were the first to expose back in September of last year way before the national press got onto the case. The real villains are the Government but also the overpaid and negligent City fund managers who agreed to this scheme. They are now trying to shift the blame onto the bosses, notably CEO Jeff Fairburn, but this is about blame shifting not what is in the best interests of shareholders. I then look at wider market wobbles mentioning, en passant, IQE (IQE), SnapChat and other examples of lunacy.

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