RE: What goes up must come down24 Jul 2021 18:04
Brass, I've spent all day, right through lunch, missed me boiled egg and soldiers, trying to decipher your message, but think I may have grasped it, but please correct me if I haven't got the gist spot on, so to recap;-
"10.08 Johnski…..the analogy of Tom James I would give you is that my nextdoor neighbour had his house on the market just pre COVID couldn’t sell it even after reducing the price several times and eventually took it off the market…..he put it back on the market 6 months ago and some absolute muppet paid 150% of the price it couldn’t sell for a year before. I asked my next door neighbour who valued it and he said the estate agents suggested a price a little above his last years attempt but his mate down the pub a bricklayer ( an independent valuer ) said tell the estate agent to stick it on at a massively inflated price and see if some idiot will buy it……the house sold the following week and my next door neighbour is now lying in the sun in Portugal"
So what you are trying to say is that Tom James talked to AZ about his ideas and work so far, over a pint down the Coach and Horses, in the hope that AZ would think, obviously a bit the worse for wear, a bit under the table, lit, what great ideas, ok I’ll buy Tradeflow for 150% more than its value. No due diligence, no thought of checking up what TF is worth by looking at the books, valuation, details of the business/sales/income, accounts, financial projections, personal assets, liabilities, no getting his lawyers to crawl over every aspect in the back room, transfer of contracts, no interviewing everyone involved etc etc just a spit on the hand in the Coach and Horses, handshake, job done. Is that how it happened then Brass?