ShareProphets was a hive of activity on Friday lunchtime as Tom was blindfolded, spun around a thousand times and then asked (by Brokerman Dan) to publish an article. This to me smacked of the typical modus operandi of someone jumping up and down, making noise to gain attention. On Friday two barrels declared war on a number of City boutique broker houses. I wonder if that war will see capitulation as quick as the war he declared against the ShareProphets site.
The obvious thing I see is a complete lack of common sense from Tom (by allowing the shite to be spun here) along with an embarrassing contradiction of where the '' FIGHT '' lies or who its held by. I remember Tom and Dan referring to Ben Turney as flip flop - Really… #JustSaying
OK over to a few points that have gripped my shit over the last few days.
I'll start with the commentary yesterday against the two named broker houses. For the avoidance of doubt I'm as cautious of brokers as I am of a dodgy second hand car salesman telling me his 25 year old Escort XR3i has only covered 13,000miles from new. They all talk a lot of pony; however on this occasion I felt compelled to share my own experiences.
I have delt with half a dozen of these houses in the City including the two named in Friday’s blasting by a convicted armed bank robber #JustSaying, I have to say that my experiences overall have been good with a number of brokers (of which I have dealt) delivering a clear and concise message, which left me with little doubt. Business was always a focus but there were also a number of helpful pointers shared on other things from FX trading (by the way Bill Holiday comes highly recommended) to looking at ISA options. The young mavericks can often be uber useful.#JustSaying
It disappoints me to think that a certain theme or line is followed by the comments shared on this site. ShareProphets’ readers made their feelings visibly clear in the comments section of yesterday’s piece and it seems many of them share my misgivings about its publication. So much so on Friday evening the slow mumbling of '' The Block Tom Winnifrith Campaign '' started to surface. Personally I value Tom and believe his exposing companies has been invaluable, to block that is similar to closing your eyes to a problem however the movement looks to be gaining traction and that won't be good for either the blocker or the blocked. I call on people to deploy some common sense.
( Note: I accept that investors have a right to decide on what they support or what they do not.)
I joined Tom back in the very early days of ShareProphets and have been an unequivocal supporter publicly, although at times disagreeing on points or in fact arguing the toss as can often happen. I put this down to a healthy dislike for spivvy toffs playing at being from the streets, whilst shoveling smoked salmon, asparagus and eggs benidict down their cake holes, smoking with their pinkies up.
That aside Tom’s a good stick and one who more often than not gets it right. On this occasion he was wrong in my opinion #JustSaying.
What happened in 2015 with Sefton Resources (no matter how much flannel is thrown over it) was a total mess, which quickly developed into an absolute disgrace. I see the phrase pump and dump bandied about like a war crimes’ act by certain folks. I guess the Sefton mob that advised people to buy whilst selling and vice versa or the main players who proclaimed they weren't selling as the alleged turn around into Indonesian Oil assets would see the share value accelerate towards 1p in fact used the inflated market interest to cash in #Justsaying. Finally let’s not forget that £1 salary, which quickly became a £50,000 exit fee coupled to a healthy option package – before all that awkwardness over the ex-directors identity!
I suggest that a pump and dump (in the most obvious format) played out in front of our eyes, with the main advantage to the scallywag was Sefton issued options and the remuneration buck shee...#Justsaying
But getting back to my main point, I also would like to point out at his point that my involvement with City boutique brokers is new (overall during my time in the markets). I do limited business as I'm from the tight arse north and not particularly wealthy, thus prefer to execute 80% of my trades business with Hargreraves Lansdown. I won't say that all brokers are good guys as in my opinion they're an evil necessity '' I mean how dare they make money when you are'’.
Bad ones of course make money whilst pissing your million quid down the swanny #Justsaying.
My last point is MX Oil a company I have supported since its conception, Predominantly its presence in the markets has been positive and profitable for investors. A tiny £1m shell company that accelerated to over £10m market cap in no time at all (#JustSaying), as it fought to win potentially world class assets in Mexico and gaining a revenue stream from production in Nigeria. In a depressed oil environment where lots of people hurt, I'd say overall the company has performed quiet well.
I'm not sure how much help it has been publishing the potential fundraise price of the company on the ShareProphets. The company was completely open about its funding needs prior to the potential to raise which was mentioned in a number of articles. I see it as counter productive as it actually weakens the chances of a favourable price which in turn hands a bigger % gain potential to the dreaded flippers. Again I'm not sure how well that was thought out by the editor but I'm sure he'll lambaste me for today’s coverage so welcome an explanation. #Justsaying
On the last note, I suggest that MX Oil (whilst not particularly impressive of late) will hopefully overcome any near term hurdles and jump back like all well run companies should. #JustSaying
The testament of time will demonstarate that -/+
Keep your peckers up
*Note: I submitted the article to Tom (Editor @ Shareprophets) who declined to publish this piece, I wish to state that Tom has never stopped me from writing about companies good or bad. The shareprophets is an excellent site with an incredibly talented team, Tom has not only been a pleasure to work alongside but has also become a friend. I receive zero compensation from the shareprophets and operate completely independent, If the article has offended Tom then I'm sorry. However I believe in the right to express ones opinion under democracy and free speech.