3652 days ago
Over the weekend yet another employee of the Financial Regulator, the FCA, was in touch asking to link up as he enjoyed my writings, found them most educational and thought we knew many “good people” in common. Cripes the TW Fan Club at the FCA is growing apace. In view of that I have sent them an urgent request regarding Quindell Portfolio (QPP) as someone HAS to be prosecuted for market abuse and sent to prison.
Yesterday Gotham City published a 74 page dossier on Quindell. Gotham is short of the stock. Gotham makes allegations which are extreme and, if proven, would show that Rob Terry and senior Quindell execs are guilty of fraud and market abuse. At this stage I stress the words IF PROVEN.
With a market cap (before yesterday) of more than £2 billion the FCA cannot allow itself to sit on the sidelines. There are only two possible outcomes here:
3680 days ago
Bear raider Evil Knievil lost £40,000 shorting Quindell Portfolio (QPP) last time around but he has opened up a material short position after results yesterday, but has been prevented from letting folks know about it. I am always here to help…I am that sort of all-round nice guy.
At 35p Quindell is now capitalised at £2.1 billion. Results for calendar 2013 were released yesterday and are not designed for easy reading. There is so much verbiage, restatement of prior year numbers, PR flim flam and general information given that it is terribly hard to get a clear picture of what is going on.
The bulls would point to a 133% increase in sales (to £380 million) and how adjusted pre-tax profits soared by 133% to £133.7 million giving adjusted earnings of 2.54p an increase of 75%. A PE of 14 for such growth surely this is a bargain. Well er…up to a point.
Profit is a matter of opinion, cash is a matter of fact. And the cash generated at an operational level was truly pitiful
3977 days ago
I have taken Quindell Portfolio (QPP) off my “accident waiting to happen” list as it is now in the slow motion car crash category after a set of prelims that contained some very strange items, followed by two obfuscatory “clarification” statements.
This leaves a vacancy and so I have added my old friend Purecircle (PURE) to the list at 355p with a market cap of £592 million. It came to the market in 2007 as the world’s largest supplier of a product called Rebaudioside A (REB A) which is derived from Stevia leaves which are a natural, no calorie sweetener. Basically for every 30 kg of leaves grown, 3kg of crude extract would be produced in the company’s extraction plant in China and then moved to its refinery in Malaysia where it would be processed into 1kg of Reb A, a natural high intensity sweetener (NHIS) which was set to be a mass produced commodity as an alternative or complement to sugar.
That was the plan in the AIM admission document but like most battle plans, the plans you get in such documents rarely survive first contact with the enemy.
3992 days ago
How do you keep an idiot in suspense? Assuming he is the sort of idiot who owns shares in AIM Cesspit listed Quindell (QPP) it is by telling him that the annual report is imminent. When will it arrive? Needless to say the company refuses to answer even that question. But one day soon it will arrive and so what am I (as a bear) looking for?
4002 days ago
I will try to make this the last Quindell (QPP) piece of the week but I have slept on it and the statement of yesterday threw up far more questions than it answered. I am afraid that I must again start with that £15 million loan AIM Cesspit listed Quindell has advanced and which appeared on the year-end balance sheet.
The company says that its share price is driven down by misinformed press speculation. Such speculation abounds when a company declines to answer a simple question or two. To whom was the loan made, why and when and on what terms? I put the question to foxy PR bird Bex (via her assistant) on Monday morning. On Monday Afternoon I put the question to Twitter obsessed CEO Terry via his assistant. In both cases I was promised a call back with an answer. I have to tell you that no such call has been received.
And I am not the only one asking this question. Why the refusal to explain and to answer?
But I move on.
4006 days ago
Shares in AIM listed Quindell Portfolio have slumped to 7.12p following a disastrous results presentation. But that still values this strange stockmarket beastie at more than £400 million. Folks cannot say that they were not warned about this… On my new www.shareprophets.com website, myself, Lucian Miers and Evil Knievil (SBM editors ‘pal’!) all warned folks to get out well before the current debacle. Personally, I still see the shares as a strong sell – there are just too many red flags here.
Supporters will tell you that the stock now trades on a PE of 5 and that the recent slump from 13p is all down to wicked short sellers and scumbags like me spreading disinformation. Er…no. I list below the red flag issues which should tell you that this will end in tears for the bulls and obscenely excessive bacchanalian celebrations round at Real Man Pizza Company for the bears.
4008 days ago
Bear raider Evil Knievil and I chatted tonight and he is in celebratory mood following the post results meltdown in the share price of AIM Cesspit listed Quindell Portfolio (QPP). The numbers raised red flags but it is the shocking revelations of how shareholders cash was used to punt on Quindell’s share price that has caused the stock to slump.
I revealed here a while back that Quindell was Evil’s biggest short. Bear raider Lucian Miers also wrote up his concerns about Quindell here on Shareprophets two weeks ago as you can read here.
Is it illegal for a company to use CFDs to bet on its share price going up? Evil tells me that it is not since a CFD is a derivative. However
4031 days ago
I know nothing about AIM listed Quindell portfolio (QPP) other than Lucian Miers regards it as an accident waiting to happen (as he explained here.) and that I share his unease at its aggressive manner of stock promotion. Today’s RNS only increases that unease. It is flagged up as “Major contract win with leading UK broker” but… -
