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It’s very hard to write a blog when you don’t fancy buying any stock. Stocks look ugly to me at the moment in the same way as people look ugly in a packed underground train.
My portfolio has been, and is being, kicked – which is to be expected as it is a very high risk portfolio full of fallen stars.
Trinity Mirror is looking very ugly. Not because it isn’t a great story, but because it just keeps falling as if someone knows something I don’t.
In the last few years there have been plenty of companies that have been stolen from shareholders and I won’t open myself up to being sued by naming them. As such good companies with strange downward movements now make me more nervous than in the past.
I believe certain banks short the stock of companies they lend to then pull the funding to close on the short on bankruptcy. This makes levered companies very vulnerable. The pre-pack administration process also makes this kind of shareholder pillaging a growing trend.
It used to be private equity encouraging the collapse of share prices so companies could be “taken private,” but at least they ended up paying for the rump. The era of the pre-pack allows for the pillage to be free.
These are the sorts of ugly thoughts you get in a bear market. Roll on a rally.
The market should crash of course but I have a niggling suspicion it won’t. In any event I’m sat pat.
