61 days ago
Stonewall used to be such a wonderful organisation when LGB folks really did someone battling for their right to equal status. But, happily, that battle is almost won and so Stonewall needs a new cause and that cause is the battle for transgender rights. Its kudos from previous fights means that it earns a fortune from Government doing “LGBT equality audits” and departments so woke this is utterly pointless. And virtue signalling PLCs also sign up for these audits and then boast of how woke they are. So accountants Grant Thornton may have been fined £4 million (too little) yesterday for enabling the patisserie holdings fraud with its slack work but at least it moved 153 places up the Stonewall rankings last year. Hooray. Pay rises all round!
61 days ago
I explain why there was no bearcast yesterday. Then I look at the part this household is playing in the fuel crisis. It is all about psychology. Then a look at Real Good Food (RGF) and companies delisting before a look at the pathetic punishments for the enablers of fraud at Patisserie Holdings (CAKE) I also look at what Australian regulators are doing to tackle pump and dump twitter gangs while the FCA jerks off on more ESG porn doing nothing about tackling real crime. I flag up Aura Energy (AURA) in this regard.
61 days ago
Nobody doubts that Patisserie Holdings (CAKE) was a fraud and it was a spottable one. This website expressed its professional scepticism about how sales were surging while footfall in the malls where patisserie outlets were sited were collapsing. Others questioned how a company claiming huge cash balances has almost no net interest income. Yet Grant Thornton lead by partner David Newstead signed off on its accounts for the years to September 30 2015, 2016 and 2017 without question. They were sheer fiction.
193 days ago
No Rogue bloggers training walk today but I had an excuse so please donate HERE anyway. Then back to Patisserie Holdings (CAKE) and more whining from a failed auditor.
692 days ago
Of course some of us identified that there was a real problem at Patisserie Holdings more than a year before the public became aware and explicitly warned folks about it HERE in November 2017. Some, like ShareSoc director Chris Spencer-Phillips knew better. Thankfully Chris sold before it was too late but now identifies the real problem. He writes:
1024 days ago
Covering Quindell (QPP), Naibu (NBU), Patisserie Holdings (CAKE), Staffline (STAF), Sefton (SER) and more I look at the role of auditors and lawyers in enabling corporate fraud and what needs to change to stop this.
1033 days ago
I know that Thirsty Paul Scott was a major bull of Staffline (STAF) and a shareholder. Today's shocking news of allegations of accounting irregularities made by the company's own auditor PWC and a share suspension is enough to turn any man to drink. In this podcast I give background and explain what I think the outcome will be. It is bad but not, I suspect, a Patisserie Holdings (CAKE) but it might get very nasty.
1034 days ago
I am plagued today by Bulletin Board Morons reporting me to the FCA, by Roger Lawson and some ungracious comments on fraud busting at Globo (GBO), Quindell (QPP) and Patisserie Holdings (CAKE) and by our former in house Bulletin Board Loon who has returned to really rile me with some vile comments on the holocaust which expose him as the Jew hating vermin that he is - HERE. I comment on Angus Energy (ANGS), UK Oil & Gas (UKOG), Domino's Pizza (DOM), Feedback (FDBK), Photonstar Led (PSL), Starcom (STAR) and Cabot Energy (CAB) . Footnote, Roger is now planning to run an amendment flagging up that I did advise folks to sell/short Patisserie warning "something's not right". Roger you are a gent.
1039 days ago
How I suffer for you dear listeners. All is explained. Then there is a long discussion on the administration of Patisserie Holdings (CAKE). I move on with a few more words on The Escape Group (ESC) which I covered HERE and then look at Eve Sleep (EVE) and the folly of Neil Woodford, Scancell (SCLP), Anglesey Mining (AYM), Ariana (AAU), Bluebird Merchant Ventures (BMV), Chesterfield (CHF) and Metro Bank (MTRO). Finally it is one day to ouzo time (again) on Frontera Resources (FRR).
1043 days ago
In this podcast I look at the utterly useless coverage of the LCF scandal provided by the Sunday Times which seeks to blame the poor old FCA for daring to trying to stop a ponzi. I then look at the bloodbath on the high street and the madness and denial of some. There is comment on Patisserie Holdings (CAKE) and Pizza Express and also on house prices in New York and what that tells us about Brexit.
1046 days ago
In today's bearcast recorded before my first training walk for Woodlarks I look at Sabien (SNT) and ask if CyanConnode (CYAN) misled ahead of its last bailout placing. I deal with the nature of fraud, the culpability of Luke Johnson (there is none) and Patisserie Holdings (C AKE) and then explain why I think Malcolm's stance on the bankers is bonkers
1047 days ago
My pal Luke Johnson used to be known as Lucky. Just like Lord Lucan. Luke does not stand accused of butchering his nanny and is not fleeing the country but there is blood on the streets round at Patisserie Holdings (CAKE) and Luke’s luck seems to have run out. Though I was a perma bear on Patisserie it gives me no pleasure to be revealed as a superb journalist once again...
1140 days ago
Kelvin McKenzie is a major hero of mine. His Sun front page Gotcha! with a picture of the Belgrano sinking was his finest moment on Fleet Street so it was a pleasure to be a guest on his radio show today. My section is about 20 minutes in
1140 days ago
First things first - we have almost raised the £2,500 needed for the Woodlarks Christmas grotto. I am sure you can spare a fiver to get us over the line HERE. Secondly, I am in London tomorrow and on the warpath and hope to see many of you HERE. I was distracted today doing a radio interview with my friend and hero the great Kelvin McKenzie of "gotcha!" fame. That covered Patisserie Holdings (CAKE) and fraud and I continue with that theme. I also look at Superdry (SDRY), First Derivatives (FDP), Frontera (FRR) and Purplebricks (PURP).
1141 days ago
First of all please read abut the Christmas Woodlarks Santa's Grotto £2500 appeal and donate a tenner. If you like bearcast you know you can afford it. Details are HERE. This podcast covers the shameful and ignorant treatment of Luke Johnson over Patisserie Holdings (CAKE) and I stand in defence of Luke. This country needs more folks like him not fewer and much, if not all, of today's coverage is shockingly bad in every respect..
1142 days ago
In today's podcast I start with a brief but of macro babble then look at RM2 (RM2) specifiocally but also at the wider Neil Woodford stable* of dogs. Then I discuss whether I'd buy into Patisserie Holdings (CAKE) at 50p. It is certainly not the same as Conviviality (CVR) which Thirsty Paul Scott bet heavily on the day before it went bust. There are similarities but 1 big difference.
1145 days ago
In today's bearcast I start with a look at Patisserie Holdings (CAKE) run by my pal Luke Johnson and I discuss the nature of fraud. I look at Sosandar (SOS) again and get really very angry (warning bad language alert), at FastJet (FJET), Telford Homes (TEF) and the folly of Government policy, Online Blockchain (OBC), and at Urals Energy (UEN) and the folly of the AIM Cesspit.