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Follow Quindell Director Robert Bright – you are ‘avin a bubble – with Paul Scott comment

Tom Winnifrith Monday 3 November 2014

 

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To great excitement another Quenron (QPP) director stepped up to the plate and bought shares on Friday – Robert Bright snapped up 100,000 shares. Well done Bob, in the context of your wealth…this means jackshit.

Bob’s trading record in Quenron is not that hot. This purchase was at 131.5p. The last one was at 300p and the one before that was at c250p. So anyone following the purchases is not exactly quids in. Bright has made a fortune in a 35 year City career at HSBC and elsewhere and so his £40,000 NED salary at Quenron is chickenfeed as is his total holding of 225,040 shares.

If the Quenron board really believed that on a forecast 2015 PE of 1.3 this stock was cheap, that it was worth £3.5 billion as fraudster Rob Terry claims it would collectively be buying of millions of shares. And it would not do so at one director a day just to generate PR it would all have ploughed in after the most recent (laughable) trading statement. This is all PR hogwash. At this point I hand over to a post I noticed by the UK’s top share blogger Paul Scott:

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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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