Tags
Fiomi Diagnostics, Galantas Gold, George Soros, John Teeling, Lisa B, Minco, NAMA, New Ireland Fund, Norish, O'Donoghues, Oisin Fanning, Orogen Gold, Papua Mining, Papua New Guinea, Petrel Resources, Phillip Goldstein, Rathdowney Resources, Raven Russia, Real Estate Opportunities, San Leon Energy, shorting, Strongbow Capital, TGISVP, Trinity Biotech
Continued from here:
OK, we’re in the home straight now, at least within the original valuation stage of TGISVP. Eight companies left, mostly junior resource companies, so that should be fun..! I’ve booted Real Estate Opportunities (REO:LN), as trading was suspended in January. And please, let’s not bother talking about NAMA, court cases etc… For years now, REO’s had terrible corporate governance, far too much leverage, and pretty much promised to totally fuck investors... And so it has come to pass, and shareholders don’t even have a luxury Moroccan get-away to show for it…
I’ve no desire to short shares usually – a value mindset is far too dangerous an attribute to possess if you want to play that game. But watching REO fly far too close to the sun, and not even notice its wings were melting, I just got far too itchy… I really wasn’t worried what the price was – GBP 20p, 5p, 3p…who cares when it’s going to zero anyway. Unfortunately, I couldn’t find a spread-better who would deal in it – even Worldspreads (and their zero spreads…), if I recall..!? Perhaps I didn’t ring around/push hard enough? If anybody managed to do this successfully, I’d love to hear more details?
Wexboy 