RE: Another read ..23 Oct 2020 16:27
Hi Landy7,
I've explained myself before, but here goes again, anyway :
I'm an old dog traditional LTBH investor with a Jack-of-all-trades background in finance and have been living off my investments for the last 20+ years. I'm trying to learn new tricks/technology, as the post-Covid investment world looks to require a different mind/skill-set.
One feature of which is momentum investing aka 'the bigger fool' theory : something doesn't have to have the traditional, intrinsic backing that a value investor would want to see to be capable of generating good returns, you just need to get in - or, at least , out - before the herd.
It helps if you have a good, plausible story , I bought into ASC (internet fashion) at under 5p and replicated with BOO at 28p; I lost on IND (world-beating video-linked security systems, let down by poor management/marketing) and OPTOS (retinal eye-scanner tech, sold out too early).
I've dipped into biotech (but with asset backing) and SYME's my guinea pig in fintech.
I started out open as to whether it'll succeed, it'll fail or it's a scam.
The hyped-up and then written off IP valuation almost immediately post IPO; the 99:1 ratio paid for/unpaid for shares - 32 Billion of them; the opaque ownership structure and movements (ongoing !); the change of auditor; the change /extension of accounting period; the hyperbole in RNS's and time spent 'selling ' SYME to public (minority) shareholders, instead of delivering on potential, all these inclined me initially to believe that it was a scam. Any one of them would set a credit inspector's whiskers twitching.
The emergence (gradual) of people of substance behind it has persuaded me that it probably isn't, so we're left with :will SYME succeed or fail ?
I WANT it to succeed. My career was in conventional, hide-bound banking, where any attempted innovation (including some I was involved in) was invariably greeted with one of 2 x negatives : 'We've always done things this way' or 'We've never done things that way'.
So if AZ and co have indeed found the Philosopher's stone and found a way of converting lead into gold (aka 'monetising' otherwise 'unproductive' assets) I'm all for it.
I'm just not convinced - yet - that he has.
The proof of the pudding will be in the eating.
I'm not the only one out there who thinks this way, see https://www.sharebuyers.co.uk/shares/supplyme-capital-continues-to-be-a-traders-dream-what-it-can-learn-from-novacyt/
..""Our honest view is that today’s announcement like a number of others didn’t need to be an RNS. It is arguably a press release by the company related to moves within its business to position itself as already explained to the market.
We say let the financials do the talking when the business delivers. Save the RNS in the US for when the pilot programme is shown to be a success and give trader’s food for thought before they push the sell button for the fourth time! "
HTH and ATB
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