Member Info for gilesfitzh

@HullFC4ever: Why do you feel that ALGW NEEDS a UK based Director?
ALGW/BOAGF is buying bundled Life settlement policies from US citizens and marketing the fund to institutional and High value individuals, the minimum investment in BOAGF is $250,000, and US regulations don't permit BOAGF to market their product to the general population.
Why do you think a PR team would be worth the money it/they would cost? Apart from the bad experience with the PR company run by Dan Levi's girlfriend, the only meaningful PR that ALGW has to disseminate is the value of AUM and I would think that GS could do this every 3 months or so. GS won't be thinking he/ALGW need PR to attract investors as this will likely come from institutions, indeed ALGW will probably be bought out within 12/24 months.
Of course we don't know what 'the other 3 income streams' are yet and it is possible that one or more of these will require a UK Director and/or PR but, based purely on my impression of GS, these won't be his priorities.

@Lulu_72. ALGW's target market is the US. The company listed in London solely because if it had listed in the US it would have never made it on to anyone's radar. Life Insurance in Europe is a very different market to that in the US so I wouldn't hold my breath for items 3, 4 and 5 in your list.

ATM they are bidding 1.15 for 100k and 1.01 for 250k shares.

@Ophidian. I wonder what price they would have to bid to tempt holders to sell 4+million shares? :)

@Ophidian. Any idea what the MMs average price is on the 4+million short position?

The MMs have bumped up the sp but all that seems to have done is attract more buying, well done all :) They are now at least 4 million shares short so they will probably drop the price again to try and scare holders. Brace yourselves and hold on tight :)

@Bluepanther. I'm guessing he is confusing you with SecretBlueprint.

Just bought 2 x 250k @ 1.18. Will have to submit another TR-1 now :)

I'm hoping that the trailed podcast means that there will be an RNS before that as there seems little point in a podcast otherwise as there is nothing he can really say except to regurgitate the oft stated reasons to invest in ALGW.

@ Ophidian: Looks as if the MMs have run out of shares. Would you agree? I 'phoned my brokers (iDealing.com) who told me that the MM's were not quoting an ask price and that no trades have gone through today. He said the most likely reason for this is that the MMs have no shares.

Price to sell is 0.988, no price to buy. Have we run out of sellers?

@SecretBlueprint: That's one way to cope with it, enjoy :)

This was said in the press conference that is going on now. Watch it on Bloomberg.

I think I read just before this virus kicked off that Buffet had a shed load of cash on hand and wasn't sure what to do with it. Bet that's changed, I heard that he bought Delta Airlines for starters.

Trump has just stated that the US will back their airlines 100%. I can't imagine any country letting it's flag carrier go to the wall through no fault of the airline. One of the big American movie producers has declared that they will send their films straight to online and most restaurants are looking to switch to 'take-way'. People are resilient and smart and most will do whatever they need to do to get through this. As usual the markets are over-reacting and those holding cash will have a fantastic opportunity to buy first class assets at knock down prices.

If you want to trade upto 25k shares the quote is 0.9660/1.2000 (24% spread), over that and it's 0.9200/1.3900 (51% spread). That's a f**ing disgrace.

MMs offer price is 1.165 for upto 25000 shares (about £290) any more than that and the offer price is 1.39.

Ha, those MMs are really trying it on atm. 100k shares offer price 1.19, 250k shares offer price 1.39.

@cj62: Here are a few reasons. Shares are being hammered worldwide and there is the usual panic which results in shares even in companies who will hardly be affected by the downturn in the economy also being sold. This is exacerbated by computer controlled momentum trading. Then there are the vulnerable holders who have invested money they shouldn't really have used as they can't leave it invested long term (i.e. 5 years minimum) or who have leveraged their bets and don't have the cash to pay the margin calls. I have never and will never trade like that because every 5-10 years some nasty event comes along and wipes you out - dotcom, banks, virus, to name the 3 most recent - I have been through all 3 and it's not pleasant but if you have only invested money you won't need for 10 years you can just sit it out. Add to this the fact that, in those shares which are not traded on the main automated market, you have MMs who know that there are investors who are vulnerable and have no qualms about taking their money so move the bid/offer to trigger the margin calls.

No, unfortunately not. My namesake is a very distant cousin.