Paul Scott 1 Jun 21.25 Jan 2022 13:51
For info and no comment from me.
Re Amigo Holdings (LON:AMGO) - I've been caught on many of special situations over the years, and whilst you might make money on the odd one, I've come to the conclusion that it's best to just avoid everything like this.
You only need the odd 100% loss to make a real dent in your portfolio. I'm still scarred from blowing £30k on Conviviality. It didn't even look that bad, but it unravelled incredibly quickly & disastrously. Or of course Patisserie Valerie#. That one was unique in my 20 year experience - an apparently great business, backed/owned by guru Luke Johnson, yet the management were cooking the books! Lots of people were wise after the event, but I cannot remember anyone ringing alarm bells about the accounts beforehand. Hiding liabilities is a very effective way of fiddling the profits, and almost impossible to spot.
As for Amigo, personally I'd just treat is a complete bargepole, not worth the risk. But if people do take a punt on it, then best to use money you can afford to lose, or only get involved if you have some genuine expertise about that sector.
I did meet someone who works at Amigo, who used to rent a room in the flats where I live in Bournemouth, but I cannot remember anything about the conversation (after the pub), and soon after he moved on.