Jtc Share Discussion Threads

[aleman] 04/9/2018 11:56

Sorry to disgaree with you, JTC, but deporting somebody who was brought into the UK at the age of 12, and remained 26 years, is harsh. Once legally admitted, he should have the same rights as everyone else once he has established a home and career here and integrated. If he had come in as an adult and committed crimes within a short time of arriving, that would be very different.

[jtcod] 04/9/2018 11:21

The race to make the world's most powerful computer ever

[jtcod] 04/9/2018 10:14

I read a market analyst comment today on WPP which made me smile. He complained "The company is a sprawling mass of different businesses......"

Of course it is! It was designed that way by a man who started it from scratch and built it into the biggest advertising agency in the world with a market cap of £25bn before he stepped down (following allegations of financial irregularities). He understood the advertising business like nobody of his era.

WPP is not a Mars or a Coke it is a sprawling mass of different businesses which represents a sprawling mass of different businesses that demand a unique advertising message for each of them from a person who must understand the very essence of the brand in order to successfully project the business to its customers. In short, this is a business where the customer demands something different, not the same. That structure is both the strength and weakness of the business model but it is mostly the strength imo.

[fireplace22] 04/9/2018 09:30

I saw the discussion on newsnight last night with JRM and Heidi Allen amazingly Allen appeared to suggest that as the referendum was 48/52 or whatever that the remainers position should be taken fully into account and a watered down Brexit is what was actually asked for by the electorate. Presumably in a general election she also thinks that the 'losers' manifesto should be enacted to a considerable degree by the victorious party? JRM did suggest he had a good first meeting with Barnier but was prevented by frequent intervention by Ewan Davis to expand on a possible solution to NI which appears to be the only stumbling block to a Canada type free trade deal.

[mount teide] 04/9/2018 09:05

Barnier and Rees Mogg got on like a house on fire and like the overwhelming majority of the British public found themselves "in considerable agreement that Chequers is absolute rubbish and we should chuck it and have a Canada style trade agreement instead" - Now there's a surprise!


Eurosceptics agree more with Michel Barnier on Brexit than Theresa May, says Jacob Rees-Mogg _ Telegraph today

'British Eurosceptics agree more with Michel Barnier when it comes to Brexit than they do with Theresa May and her government, Jacob Rees-Mogg said after meeting the EU’s chief negotiator in Brussels for the first time.

Mr Rees-Mogg, the influential leader of a group of Eurosceptic Tory MPs, attacked Mrs May’s Chequers plan on Monday, which was earlier strongly criticised by Boris Johnson, her former foreign secretary. He was in the Belgian capital as part of the House of Commons Brexit Committee.

“Mr Barnier is, as you would expect, extraordinarily charming,” said Mr Rees-Mogg after meeting with Mr Barnier, who had warned that Chequers could destroy the European project in a German newspaper article on Sunday.

“We found ourselves in considerable agreement that Chequers is absolute rubbish and we should chuck it and have a Canada style trade agreement instead,” he said.

“Eurosceptics and Monsieur Barnier are in greater agreement than Eurosceptics and the government or Monsieur Barnier and the government. It is very encouraging,” he added.

EU sources confirmed that Mr Barnier had repeated the bloc’s red lines and objections to parts of Mrs May’s Chequers plan and had set out alternative models for the future UK-EU relationship, including a Canada style trade deal.

The customs plan, which aims to smooth post-Brexit trade, has been branded cherry-picking by the bloc because it exempts services from the agreement on goods.

Mr Rees-Mogg has warned it will turn Britain into a vassal state of the EU because the UK will follow some EU rules without having a say in their drafting.

Mr Rees-Mogg, who denied being a “big, bad wolf” who was “huffing and puffing”, defended Mr Johnson, who was attacked by Downing Street as having "no fresh ideas" after he criticised Chequers as a surrender to Brussels.

“Downing Street only criticises politicians about whom it is affeared,” he told reporters outside the commission’s Berlaymont headquarters.

Despite praising Mr Johnson’s “leadership qualities”, he insisted that his disagreement with the prime minister was “about the policy, not changing the individual”.

Mr Rees-Mogg showed no sign of softening his hard-line stance on the vexed issue of the Irish border.

He was asked directly if he thought that Mrs May should go back on her promise to provide a backstop clause to prevent a hard border.

He said, “Yes, I think the backstop agreement has allowed these negotiations to drag on in a most unsatisfactory way.”

[mount teide] 04/9/2018 08:57

Like the FCA, AIM Regulation and Customs & Excise to name a few, the Inland Revenue is mostly run by third rate jobsworths largely unemployable in the productive sector without a massive attitude change.

John Harvey-Jones after carrying out a examination of our public sector reported to the PM that most of these organisations resemble cosseted Country Clubs such was the scandalously laid back approach he found together with a shocking level of management extravagance when it came to spending taxpayers money on luxurious offices, deep pile carpets and highly expensive furniture and fixtures and fittings!

Having worked for decades alongside senior Customs & Excise Management(Or Border Force Officers as they now laughingly call themselves), the level of management expertise and zeal for the work i found among the senior management was depressing.

In the last decade less than 10 state school teachers have been sacked for being unable to perform the job adequately - in the private sector which is one fifthteenth the size I suspect that number get sacked every week.

The reason for the widespread lack of accountability in the public sector? Simple - its only taxpayers money and we don't matter!

[jtcod] 04/9/2018 07:18

The crazy thing about the companies house data base is that it links every related director and company with them all cross-linked. The revenue could probably isolate 100’s of people running the same template scam in just a few hours work and eventually recover perhaps millions or billions in lost revenue.

[jtcod] 04/9/2018 06:59

Just been researching a Director name on companies house. In the last 10 years this guy has setup 45 companies, none of which have ever traded (officially), 26 have been closed having claimed never to have traded and 19 remain active but non-trading.

Wouldn’t you think the Inland Revenue would have interviewed the man by now or had someone investigate the banks he visits?

Money laundering?

[jtcod] 04/9/2018 05:12

Nearly $1 Billion Flees Third-Largest Debt ETF

[mount teide] 03/9/2018 20:00

The power of compound interest - £1000 invested in Apple on listing in 1980 would today be worth circa £10 million a ten thousand percent return over 37 years - which is equivalent to a CAGR of 54%!

[mr roper] 03/9/2018 15:04

Trying to unpick Kircheners nationalisation wreckage will take a fair while.

[jtcod] 03/9/2018 15:01

Argentina imposes austerity measures in bid to stabilise peso

[jtcod] 03/9/2018 14:47

ETF growth over recent years has been extraordinary. It’s been a great driver for Black Rock.

BlackRock’s Decade: How the Crash Forged a $6.3 Trillion Giant

[aleman] 03/9/2018 12:44

Footasylum's trading update must be worrying for retailers. It sells 30% online and has been growing its store numbers slowly yet, after an in line trading update in June, trading has deteriorated badly enough in July and August for new FY EBITDA guidance to have fallen by just over half.

[mount teide] 03/9/2018 12:03

Lol! The 'Frankenstein' Model is about as credible as that carefully crafted by the private school educated, public sector millionaires at the Treasury!

[spittingbarrel] 03/9/2018 11:27

This 'Frankenstein' model shows how much damage Brexit has already done to the UK economy

[aleman] 03/9/2018 11:18

Poorer quality lending to lead to steeper downturn. Safeguards peeled back.



Furthermore, the US appeals court ruled in February that CLO managers, the biggest buyers of these risky corporate loans, will no longer be required to have "skin in the game".

CLO managers are now exempt from the post-crisis rules that stipulated that they have to hold some of the loans that they were packaging up to sell on.

[aleman] 03/9/2018 11:03

So we lecture Italy about borrowing when central banks own 37% of UK debt and 13% of Italian? What would UK rates jump to if the B of E sold down to 13% over the next 2 or 3 years?

[mroalan] 03/9/2018 10:45

that democracy thing,its so yesterday:-)

[mount teide] 03/9/2018 09:02

When the duplicitous 'Chequers' goes, as it surely will, May (and its creators, the venal charlatans masquerading as her self serving Whitehall advisors) should go with it, and rightly so for being such devious liars.

May, and the we know better, we call the shots, public sector millionaires at Whitehall and the Treasury have been a total impediment to reaching any sort of Brexit deal that would have honoured the intention of the referendum. There is absolutely no reason why she should stay on as PM.


Who could forget the Treasury's 'expert' analysis in March 2016 of how just a vote to leave the EU would immediately impact the UK Economy:

'Britain’s economy would be tipped into a year-long recession, with at least 500,000 jobs lost and GDP around 3.6% lower, following a vote to leave the EU, new Treasury analysis launched today by the Prime Minister and Chancellor shows.

HM Treasury analysis: the Prime Minister and Chancellor set out the Treasury’s analysis of the impact on the nation’s economy over the immediate period of two years following a vote to leave.

This analysis shows that such a decision would cause an immediate and profound economic shock across the country, creating instability and uncertainty which would be made worse by the complex negotiations that would follow to agree the terms of Britain’s exit from the EU and its new relationship with the rest of Europe.

Echoing the recent warnings from the independent Bank of England and the International Monetary Fund, the central conclusion of the Treasury’s new analysis is that the effect of this profound shock would be to push the UK into recession and lead to a sharp rise in unemployment.'


How the economic forecasters could stay in their jobs at the Treasury, BOE and IMF beggars belief - as President Trump might say, it was the clearest case of industrial scale COLLUSION I have ever come across.


Fortunately, 17.4 million people saw through this scandalous attempt to manipulate the result of a National election and sent the main protagonists packing. Who would have thought that after seeing another PM installed in office supposedly determined to honour the referendum result, the Nation is still having to fight its way out of the EU such is the UK political class's contempt for democracy!

[11_percent] 02/9/2018 23:33

There is no market in Eurozone bonds....the ECB buys them all.

If it stopped buying them....all the EU banks would be foocked.

[mount teide] 02/9/2018 23:31

Jt - Not at all, just posting factual data - while its possible to debate all day long each others views; i prefer to post factual data, and be guided from the invaluable experience of travelling the globe for 35 years in the shipping/commodity/finished goods transportation industry.

I find much of the research of these sectors and the global economy (other than a few notable exceptions who charge very large sums for their work), is largely carried out by 'professional analysts' who have little or no first hand experience at the operational/management level of these industries and hold no technical/professional qualifications.

As a consequence, as Niall Ferguson the financial historian found from his economic research of China, the US and Europe greatly underestimated the impact that China and SE Asia would have on the global economy since the start of this century and, are likely to continue to have for the remainder of the first half of this century.

Europe and the US together now represents barely 11% of the world population - and this is forecast to decline to just 8.5% by 2030. The pace of economic growth, industrialisation, urbanisation and modernisation in high population China, India and the emerging Nations of SE Asia is unprecedented compared to anything experienced in the West over the last 70 years and will continue to be the main driver of global growth over the decades ahead.

Since more than 40% of my investment portfolio is now focused on companies based/operating in SE Asia and the Pacific Rim, i will be off to Singapore, Indonesia, Australia and China again in late November for 3/4 weeks to carry out further research on the investments, and other companies on my watch list, and to get back up to speed with the incredible pace of economic development across the region and its likely impact on the wider global economy over the medium term.

If like two equity investor friends and i you place a very high investment case weighting on the quality of the management/their previous track record in the sector and the assets - then Jadestone Energy (JSE) the Australian/SE Asian based new vehicle of the highly successful ex Talisman Energy management team could be worth a look. The CEO took Tailsman Asia from a 2 asset business/45k boepd to 500m P2/150k boepd and $6-$7b value.

Started a new JSE thread with charts and links to a recent O&G Conference presentation by the Company and new website presentation.

Like fellow shareholder Livermore Partners - a US hedge fund specialising in the energy sector - we believe Jadestone's recently executed $200mm Australian asset acquisition from Thailand giant PTTEP(for which the equity fund raise was heavily oversubscribed) will prove transformational for the company.

Jadestone has a nav potential some 4-5 times the current market cap; strong free cash flows post the recent acquisition, which on a proforma basis, will allow $100 million of annual FCF for a company today trading at a large discount (1.5X EV/EBITDA for 2019) to any peers. The cash flows to fund Jadestone's future production development programme to 30,000 bopd over the medium term from its existing assets is based on $50 Brent.

AIMHO/DYOR