Stakhanovites Triumph

An extract from the diaries of infamous bear raider Evil Knievil

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11 August 2010

Our glorious leader, the CEO of Rivington Street Holdings* (RIVP on Plus) and permanent QUID, advises today that RSH's latest acquisition, Presentation Matters Limited, is run by Mr and Mrs Tony Othen who have demonstrated a truly stakhanovite attitude towards work. That's too intellectual for me. I just think they are courteous. TW note: There is a lot which is too intellectual for you, my Oxbridge rejected friend.

China Wonder (CWO) is a tiny little company and capitalised at 2.5 million pounds. Yesterday it announced a 750,000 pounds contract win. This company seems to me to be going places. Climb aboard at 15p. 25p by Christmas?

On the wheat thing the price is not quoted per whatever - as in previous diary entries - but per bushel. I do not know what a bushel is (Wikipedia does not assist much) but I always thought it was one of those things one should not use to hide one's light. But I suspect that the first wave of wheatistic opportunism has sold out. Therefore it's time to go in again. I have at 745 cents per bushel for December. This contract expires 19th November. Quite why expiry dates as described actually occur perhaps four weeks earlier, I do not know. It is rather like buying my favourite magazine, Stakhanovites Monthly, today and noting that the cover is described as September Issue. And whereas readers of SM may like to feel that they are up to date for longer than they are, I cannot see any psychological advantage accruing to purchasers of December wheat on learning that the contract expires in November.

(Needless to add, I put my hand up since I am with my wheat purchase now part of the worldwide conspiracy orchestrated by Goldman Sachs to deny Africa food - I here note the Daily Mail, the promoter of the daily hate. After all, less food for Africa means fewer Africans which means fewer vuvuzela noises. Crafty eh?)

Also on the oils pitch, I was lining up to subscribe for new in Nautical Petroleum (NPE) at what proved to be 125p. My friend went further and offered to take up 1m. He was cut back to just 25% of that and then informed by Nautical's FD that there now subsists a relationship (between Nautical and the investor). This is a mysterious deployment of the term relationship. It also suggests that 125p was unnecessarily low - I wonder who got the big allocation?

Talking of mistakes, apparently BSkyB opposes Skype so calling itself on the grounds that the Sky of Skype also features in BSkyB. This is broadly comparable to a collection of wallies objecting to the marketing of Wall's ice cream.

I had no sooner closed my FTSE short this morning having trousered 100 points when Jim Slater pointed out to me that, in his opinion, it might be wiser to stay short. So I have reopened the short. This is deference in action.

Yours sincerely,

Evil's Idiot Diarist

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*Rivington Street Holdings (RIVP) is the ultimate owner of this website.

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