Member Info for WolfofWarks

This market is death by a thousand cuts. You need to be trading to make any real money it.

I’d love to be able to sit in front of a screen all day with a fat stack of cash.

Not that I’m particularly good at trading though!

“ What I found amusing was the question which seemed to basically ask if BTC recovered to highs would Argo consider going back to a HODL strategy. Er...surely that would be a better time to sell compared with now???”

The incorrect psychology of the private investor. ARB should be hovering them up now from cashing in on the highs.

Wouldn’t have needed as much debt either.

I’ve come to the conclusion that until Ocado works out how to make money it’s uninvestable at the moment, especially in the current macro conditions.

It doesn’t really matter what the beak even point is as the btc are not sold.

It’s purely theoretical until ARB starts selling btc and running as a proper business. Plus there are that many factors outside their control - btc price, usd value, mining difficulty, etc, etc, that the whole things is a constantly moving target.

I’m not an investor. I’m watching this with interest for my own knowledge.

That RNS says the absolute minimum possible. This is not a company that wants to speak to its investors let alone re-assure them.

You think they would have found a non-affected web hosting company by now. It doesn't looks good, what must their key customers and suppliers think.

Yep all the open CEOs who popped up during the COVID lockdowns and wowed new investors have all had to reign in it to a degree.

Argo can't be evaluated on a free cash flow basis because the whole model evolves around holdings as little cash as possible and as much btc or equivalents as possible.

They should have started selling down btc twelve months ago imo and the company would be in a far stronger position than holding an asset that goes up and down more times than a ****'s knickers.

“To be fair I don't think there's any subterfuge. The exchange rate thing just looks like sloppy work whilst PW's quote of $5-$10k for 'breakeven' I'm pretty sure relates to the direct costs only which as I tried to point out is reasonable in the context of considering at what BTC price it is still worth mining at - i.e. $10k is enough to cover operational costs now and it certainly was then. So I have no problem with PW when he used the $5-$10k but many misinterpreted it as meaning they would make a profit at this level (i.e. ignoring all the overheads).”

In cost accounting it’s called “contribution” and most regularly used in production scheduling to determine the optimal mix of products to produce the largest contribution towards overheads..

I think the biggest affect here is access to finance from the city of London, although I think that probably would have been a stretch before the sanctions anyway.

You would need to find out what security the note holders have over which assets I would have thought. They can’t just take assets, there’s a process.

Also if they instigated insolvency proceedings which jurisdiction would this happen in and can anyone professionally work on the case given the sanctions.

As an example PWC were appointed as administrator for McColls, who could/would take that role if it happened here?

‘There is absolutely no rational behind sanctioning a company which has an oligarch with 29% holdings. If this can be done none of the ftse companies are safe.’

Is there another FTSE company that’s 70%+ owned by a small number of Russians with alleged links to Putin and the war machine?

This is a very unique case where unfortunately minority holders are collateral damage.

FairAnalyst - Do you consider Manchester United a British company? It's incorporation is in the Cayman Islands.

"WoW the Government has given some assistance re. national insurance increase and energy bills. NI contribution are being lowered in July and a rebates on this years council tax bills is underway. It's been publicised quite a bit surprised you missed it , maybe you're on this bb just a tad too much lolol. I'll leave you with that bit of an update , have a good life lad."

A mere sticking plaster on a gaping wound. Plus the national insurance give back in July has a ceiling at £34,000 so only those on the lowest incomes will benefit. I've had my £150 council tax rebate already but it's not exactly making up for the increase in everything else. To be fair I'm in the lucky position where I don't really need it but the idea that these measures are providing material compensation against the scale of the increases in costs is laughable.

If the government won’t help people out with the national insurance and energy bills they are not going to dip their hand in their pocket to bail out disgruntled shareholders in a Russian company.

Imagine how the optics would look from their side. It would be a PR disaster.

I very much doubt the company has any interest in issuing an RNS and complying with our regulations given the circumstances.

I assume the site has gone down because any company involved in maintaining or developing it can longer do business with Evraz.

Hi poor hope you are well.

This is a good example of watching the macro like I’ve been mentioning.

US FED announced 1/2 % raise last night and Nasdaq and crypto started recovering almost immediately. I think we are in a quiet period now for the FED so should starting seeing a rally and most likely a decent trading opportunity.

Depending on who and what you believe Evraz is already owned or at least controlled by parties connected to the Russian state so what exactly is there for the government to take away?

Certainly won’t be able to maintain a hodl policy with a big facility to run and large interest payments.

They've got the same kind of views on Gold. I get it you buy something that gives you a return. The problem is they only ever buy established companies and never take a risk on start up's which is why BH has underperformed most decent fund managers for over a decade.

They said he's worth a couple of quid so must know a thing or two!