What a great bank they are................. JPMorgan Chase (JPM) lost $17.5 billion. It all springs from a bad trade that’s still going bad (BLVN!)— to the tune of $2 billion and potentially $3 billion. But then there’s the 9.3% plunge in JPMorgan’s market capitalization — adding another $14.5 billion in shareholder losses. And of course, there’s the additional capital it may need to raise in light of S&P’s and Fitch’s concerns about its creditworthiness.
Bowleven (BLVN) continues to astound. It is capitalised, at 30p, at £100m. Yet it has net tangible assets of close on £200m and cash net of debt exceeds £100m. To justify this share price one would have to argue that the directors would wilfully destroy the assets. There is no evidence that they would seek such a result.
That sounds like a wish list intended for poor investor's consumption rather than a business plan. "Drill 4 wells in the next 12 months" Don't make me laugh. It's May next week and they can't even get a rig to work. Is it me or do you all feel like you are being led up the garden path?
Tiny little short by GSA of no consequence whatsoever. BUT and it is a big but: JP Morganhave just taken a 9.91% holding that is nearly £10 million. So now we have a serious well respected investment house on board. They have not put in this amount for fun. So wise up all you miserable people. This is going places. Courage mes Braves.
People complaining about the share price, blaming everyone and anyone. This is GSA Capital Partners LLP percentage short positions: 0.60 2015-04-07 0.51 2015-03-27 0.48 2015-01-27 0.50 2015-01-16 0.49 2015-01-09 0.51 2014-10-24
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.