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All traders are bandits Coggy ;-)
It's just that most are on the long side, few complain about being on the right side of the serial promoters. No trunks time is imo, pretty much here, they tend to be subject to more scrutiny in a downturn
Thanks Coggy. I am an avid golfer and take the money quite frequently at my club so my chums often cry “bandit”. I like to think I was and still am one of the straight guys, of course, probably due to my Scottish Presbyterian roots ( now capitalist), and I believe that bad apples will eventually be found out, if not by our ineffective regulatory system by theirs peers one way or another.
The Dow was moving up when this was dropping. The trump claims didn’t come until just after 4pm. It had no affect it was already down.
I agree totally. It is not helped by the skulduggery taking place in the USA
Well said bandit and post recommended. However, I can't help wondering that after a career in the city, you weren't one of these illegal activists? Your monicker would suggest you were.
Lol
(p.s. no offence intended haha)
I agree that regulation, particularly in financial services is vital, but surely the pertinent point is that EFFECTIVE regulation is what is crucial to preserve the integrity of the system. I spent my career in the City as others have and saw countless examples of illegal activity the evidence in some instances being pretty clear to anyone with even a modest amount of market knowledge, yet so few convictions actually take place. So, when investing there is no guarantee that regulators will protect those who risk their hard earned cash and there are countless examples of AIM companies where the BOD have mislead shareholders yet those culpable walk away and move onto to the next company to do the same. I will not mention names here but those who have been around the markets for more than a few years could recite quite a few of them. Best to avoid those individuals but not everyone has that knowledge which is exactly what regulators are supposed to do.
Market manipulation is becoming so sophisticated that the regulators are in many instances behind the curve. The really smart folks are working in the hedge funds, broking houses and investment banks making lots of money and they are not in the FCA - harsh but true. Of course there are smart people in the FCA too but you get my point. Whether the regulators have success in our case remains to be seen but the evidence is pretty damming as outlined in the detailed RNS. I for one would lose even more faith in the system if they fail to expose what appears to be quite blatant manipulation. Either way, this is actually a side issue IMO and not in the full control of the BOD so they must IMO focus on convincing the investment community that the way in which they value and report ongoing legal cases in their financial accounts represents fair value and does not represent any kind of obfuscation as asserted by MW and others. So, whether they can provide more detail of their methods with independent validation, that is a challenge for the BOD. The extent to which they embrace this challenge will go a long way to appeasing those doubters and those on the fence. I am prepared to give them a chance.
Don't give up. Regulation is vital. I worked for Lloyds Bank Chief Inspectors Dept for 5 years. We did audits and fraud investigation.We had one case of stealing the pretty cash £13 but the investigation found much more. I think it is scandalous that no one was jailed in the UK over the banking scandal The figure in USA was over 100
Bruce - everyone is entitled to their opinions whether they seem logical to me or not. I was only posting my views.
I contacted the FCA on many occasions about different issues connected with AIM companies over about 7 or 8 years, until I stopped wasting my time about 3 or 4 years ago. I had originally been confused about whose responsibility AIM was but was directed by the LSE to the FCA (it might have been called FSA back then). Initially the clowns there didn't think it was them either, but I eventually I managed to establish it was.
I spoke with one or other of the FCA's c.3000 clueless people on a number of occasions - never to any good effect despite there being, clear evidence of serious failings. Two such complaints involved Chinese companies I wasn't personally invested in but I felt strongly about, where Chinese crooks had told good stories, taken investors' money and looked as if they might just disappear (they did a few months later). The two cos in question both had UK non-exec worthies. The fees were all they cared about and they walked away too . The standard response I always got from the FCS (or FSA) was to the effect: "we'll investigate your complaint but won't be able to tell you the results of our investigations for reasons of confidentiality. But you might notice things have changed if we do find there is substance to your claims". Nothing ever changed of course . The place they filed details of pending investigations appears to have been the bin. 3000 public sector nitwits whose only aim was to be paid as much as possible for doing as little work as possible. The last time I contacted them was about XEL, where it was clear there had been share price manipulation towards the end. I was told by the person I spoke to in the FCA that AIMRegulation investigated share price manipulation, so I sent full details of the trades involved to them, linking a number of large trades (all sales) immediately following publication of an article in an online US share tips magazine stating that XEL had secured the funds it needing to repay an obscure hedge fund which had advanced interim funds of $130m secured on XEL's only asset (the Bentley Field - NPV10 value $1.3bn). The article was taken down quite quickly but I'd taken a screen print of the false article and provided a copy. No funds had been secured and the shares sold were on the spike created by the fake news. Was anything ever done about this? Have a guess.
I don't doubt what you say about who or what is supposed to regulate AIM today (but in fact doesn't). Does it really matter? I wasn't being untruthful in what I wrote. I also realise spread betting is almost always used by PIs to go short. The spread bet firms have to hedge their positions though so they borrow shares owned by people who don't know their shares are being used as weapons against them. I suppose long bets has to be hedged too, so the same applies.
The 'City' is rotten to the core.
jmofwiw
PS You should be happier when the company has the dual listing in USA which will be stricter than AIM here.
You are entitled to your opinion and I fully respect it without agreeing with it. On a factual point AIM shares most certainly are not regulated by the FCA which is involved with Financial Advisers, banks etc in consort with PRA and B of E etc. AIM shares are regulated by a dedicated team of lawyers, accountants etc at the London Stock Exchange. However as I said earlier if you are a member of a pension scheme it is highly probable that shorting will have been used for insurance. ie hedging bets.
well said duckupham.
Happy weekend all BUR holders.
"if you allow going long the corollary must apply"..........what strange logic you apply, Bruce.
In order to go long (ie 'buy') shares, a buyer has to lay out hard cash. Not so when going short. It therefore cost next to nothing (really just lending fees) to profit from shorting. Value destruction is the name of the game and it can yield high rewards to those who play dirty. Those going short simply have to be able to borrow enough shares from existing holders to do their dirty work on before returning them (damaged) to the lender, because 'naked' shorting is illegal, for obvious reasons.
It would be a fair game if the beneficial owners of the vast majority of the shares lent to those wanting to short a stock knew - and had approved - the loan of their shares to (typically) investment banks and hedge funds by people they trusted to invest their savings wisely on their behalf. The ones who do most of the lending are pension fund managers, although I am increasingly suspicious about internet brokers, who hold countless billions of shares in every listed company in nominee accounts for their beneficial owners. Think of the lending fees. Does anyone reading this truly think the FCA (the nationalised regulator of AIM) is likely to do anything about it?. Lensers don't disclose anything; nor do pension fund managers disclose the results their shorting activities. They're not required to so they don't. They keep it to themselves. Buried in the small print somewhere will be the right for fund managers to lend shares in their custody in return for fees which they themselves pocket, not back into your fund. They care less about making returns than about making the most for themselves. Most do it so who's counting? here are of course exceptions - put your money with them.
None of them will admit to lending because they know no-one would trust them with their money. And if you specifically instruct: "you are specifically NOT to lend shares you hold on my behalf to ANYONE", the response you'll get should you discover they've lent share in one of the funds you're invested in to spivs to profit from by destroying the price before returning the damaged goods to the lender to tuck back into your fund at 70% of the value before the shares were lent, is:"we hold a lot of shares in that company - the ones we lent weren't yours".
The whole rotten practice stinks and is imv fundamentally dishonest. If our beloved and morally upstanding Government didn't make a fortune out of it (your pension savings can't be taxed, but investment banks and their 'fat-packaged' spiv traders, plus UK based hedge funds and their morally bankrupt and vastly overpaid so-called wizz-kid employees can be - at top rates on the huge profits they make by destroying your savings. You're talking big money for the politicians to buy more votes by distributing your (former) wealth to people who don't deserve it.
Follow the money and you'll usually get to the right answer.
dyor
Maybe wrong but some big trades gone through, 800 paid when it was 758 to buy and moved from 750 zone up to mid 770 zone in space of 15mins
Yes Will...
Onward and upward next week IMHO. Already looking good for a re-bound and MW have already thrown their toys out of the pram and have no ammunition left.... sob...sob.
Have a great weekend everyone and let's see what next week brings :-)
Must admit, would love to hear something just to sweeten the bank holiday!
I just wonder if an rns is logged seems to be a quick move back and trades happily over the ask.....
I must confess that I did not expect to see continued downward pressure as we have seen this week which tells me that in this window (before we hear again from the BOD about manipulation) there are quite powerful players bashing this as hard as they can whilst they can. I am in this for a significant upside so see it as an irritant but be sure that the BOD will be spitting feathers at the way in which their company is being played like a fiddle and will not be sitting on their hands simply hoping that sentiment will change, they will have a plan and will execute on that plan when they are ready. All IMO.
Jumping back up quick now resistance of 755 hit again and bounced.........
Next week should start to speed up as well, more people back in their offices etc. It has been particularly quiet this week. I should think it will start to rise quite quickly.
Plenty of trades after that one with no effect on the SP.
S7 and Yorkshire
I have no doubt that the MW research and comments were not a true reflection of Burford.
Next week should be interesting
Yl...Yes suprising how greedy some folk get....and when it goes wrong.....well I guess you know the rest..lol
apologies £61k
At 15.57 £65k
Joke???