Westminster Share Discussion Threads

[threeputt] 16/8/2017 12:36

I think Graham's post 651 is a fair reflection

[my retirement fund] 16/8/2017 11:51

Is this company a fraud ???? Are they still solvent and getting away with it ??? Or is there a winding up petition????

[youkme] 14/8/2017 08:04

Graham, no point mate. It will only believe what it wants to and what suits it. same as jim and harold say no more.

[graham1ty] 13/8/2017 19:24

Tax, thanks for raising the tone in what was being to be a serious discussion

[threeputt] 12/8/2017 19:01

Graham, I have to defend HH in this case, they have served my pension VERY well through the years, every fund that I have held with Giles Hargreave has done exceptionally well, and it's noticeable how less favourably their multicap income has fared since he passed on the reigns to someone else.

I suspect wsg share is held within the Nanocap fund where they hold 259 companies (I must admit I was surprised how many when I looked), the Nanocap fund is companies below £100m mcap. It is less likely to be held within their microcap fund which spreads the risk around 160 companies and tend to be bigger aim & ftse250 companies

Growth in the microcap fund which is my main sipp holding and has made almost 600% in the time I've been in it (since inception 2004), and includes the financial crisis, I've also been in the nanocap fund since its inception in 2013 and is up about 50%, respectable but proves the increased risk when buying at the lower end of aim

Now I've noted the risk spread of 259 companies I would tend to agree with you that they would have problems keeping tabs on all of them

[tax dodge] 12/8/2017 16:54

Good story bro. Hahaha

[youkme] 12/8/2017 16:52

haha. I don't have kids, we have had this before. I know Mijas golf club very very very well. And by the way I've made all that money back, more than you will ever have in your dream world. Let me see. Devon, skint, no wife, no kids, little in the way of mates, up to your neck in debt because you trade shares poorly, close? Think so harold. Keep the fantasy going, its about as close to mijas as you are going to get.

[tax dodge] 12/8/2017 16:45

Don't need you to. I haven't lost £75k my wife and my kids. My life is good. Gonna have a snooze now before I go out to a lovely restaurant at mijas golf tonight. You keep trucking

[tax dodge] 12/8/2017 16:18

The reason I've posted I'm sitting on my balcony in the costa del sol sipping on jacks and coke deciding if I should jump in the pool as it's so hot or to have another jacks. I'm with my wife and kids as we are together because I don't lie to her. How good life can be when you haven't lost 75k. HahahaKeep on trucking

[youkme] 12/8/2017 14:16

lol, showing your class harald, once again. Working very hard on lse and here, you must be in really deep with money you don't have once again. very concerned about what graham and I write? surely it doesn't matter to you pmsl

[graham1ty] 12/8/2017 13:45

Youkme, bet they have never been anywhere near Sierra Leone, yet alone the new contract territory. Bet they have never seen sight of the MOU or LOI ( "too confidential"). Bet they rely on the Directors.

Bet they love the constant fundraisings. Bet they love the fees.

[youkme] 12/8/2017 10:36

Graham can you explain the nomad role here please. Can they keep signing of these rns and be happy with them?

[graham1ty] 12/8/2017 09:38

Three, I think you have an over inflated view of fund managers. I was a NOMAD, have spent most of my working life directly or indirectly working with fund managers.

I wonder how many stocks there are in this HH fund ? 100, 200 ? If it is the Pru Life Fund or M&G it might be closer to 1000. How can anyone really pretend to follow that many companies ? They may get really interested for a day, buy into all the hype, but barely scratch the surface. I bet there are 50 people on LSE or here who know more about ( and certainly spend more time on....) WSG than the FM at HH. I know Companies go to meetings with FMs ( who may have a declarable stake) where the actual individual running the fund has changed, and the Company has to introduce itself and tell them what they actually do. The ignorance of the average FM is stunning ( on small caps). This may not be the case at HH, but it might well be. They go to too many presentations, try to cover too many stocks, hold far too many, and know little about any apart from the current "flavour of the month".

Add to that that HH cannot sell because of liquidity and they may not be Happy holders at all. They are in the money, and did back for a second time, but that may have been only to defend their existing position. They bought in on the basis of an imminent contract, doubled up on the back of an imminent contract and have seen neither delivered.

The mere fact HH have a holding does not mean anything to me

[threeputt] 12/8/2017 08:35

Thanks for the full and frank post Graham, makes sense, only have a few atm and have recovered 50% of my original (relatively small) loss by trading the past year.
What of HH though, if they weren't invested my barge pole would be with yours, they must see something

[youkme] 12/8/2017 06:34

Tax, I didn't lie? Why make things up you vile creature. You will need to give it far more time than end of year lol

[luke292] 11/8/2017 21:54

Agree with what's above bought in recently on a punt, stop loss is now to break even, if it comes in easy 5-10 bagger if not who cares out for nowt anyway and move on...

What I would say is that what you have written above could be said about many AIM directors who have consistently shafted shareholders but occasionally are involved in a share that goes into orbit, I think more through luck than judgement!

At the end of the day it's AIM and who knows 1 gem for every 20 stinkers... that's the game if you want 500-1000% returns, have seen far stranger things happen than these banditos land a decent contract!

[tax dodge] 11/8/2017 21:21

Hi Graham Good post and for once I agree with most of what you have said. Most lth went to the agm and believed what they were told as they want to believe it. I wouldnt trust PF to change a lightbulb and I think he would struggle to close a door let alone a £35m per year contract. I'm giving this til the end of the year because I can, unlike some people I haven't lied to my wife about my investment and feel bitter because she is smoking someone else. I do think the next RNS will be a fund raise, I think that's the only time PF comes out of hiding when there is no money to pay his family members wages. We will see what happens, but either way I won't lose any sleep over it.

[graham1ty] 11/8/2017 20:58

I am sure they have the MOUs and the LOIs. I do not think this is a fraud in that sense. I just think they have grossly overstated the status of each, putting the best possible spin. Imminent, "post contract spending", bags packed are all spin, hype and spin.

I am sure WSG wish it were different. They were not a bad company ten years ago. A tech division Placing nearly £10m pa of metal detectors, security stuff; and Longmore which was not a disaster. Then realising that was too small a pond, they tried to reinvent themselves as a long term contractor, knowing that a recurring revenue stream is much better than the lumpy tech contracts. But, they have learned that it is a competitive world, there are lots of really big players out there, and they are a minnow. They will get a Lungi, or a Pitcairn Islands, because none of the big guys care about an airport with only 200-500 passengers per day. But Egypt ? They may through luck or skill have got the smallest toe in the door, and possibly even an MOU, but every G4S, Control Risks etc etc will be all over a job as big and prestigious as Egypt.

So WSG say they are unique in their model of making the passenger pay through a levy. What is unique about that ? It could be copied by anyone. In fact, it would be quite attractive to the Egyptian government: think of all that tax revenue, then just spend a bit of it subcontracting to someone else

And 15-20 year contracts ???? No one signs such things ( without frequent exit clauses).....unless they are desperate like the SL government, or unless such 15-20 year "contract" is meaningless: the ferry is not exclusive, riddled with competition. The "contract" WSG got is effectively only just a license to operate, and no more than that ( if it was more, they would have been sacked for failing to deliver the service for two years).

Anyhow, who knows ? The proof as always is in the pudding. And in WSG case, the pudding ain't been delivered. It is five years since Lungi ( without Ebola it could have been not a bad gig) and there is nothing since. People are saying "give them until the end of the month" but why this month ? Why did they not write that after the 2015 AGM ? Or six months after the LOI ? Or a year after the LOI ? It is obvious the Board played a blinder at the AGM, fobbed everyone off with "bags are packed", Baldrick, Ross and Sunkferry take their fees, and PF keeps them at bay with "nudge nudge, wink, wink, all terribly secret ( it is security after all), really close, cannot tell you more without having to kill you, and thank goodness for another £50,000 per month for the Fowler family.

Cynical. Yes. I am happy to be proved wrong. Bet I would bet half a pint of Luke warm shandy that before long we will see the Placing RNS with words like "just need another £500,000 to see us across the line"......