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Today's Sunday Times carries an interesting article on the extent of pension fund liabilities in listed companies balance sheets and impact on prices. Nothing new in this for those who study financial results. What struck me as interesting is that the report saw a ratio of pension liabilities to net assets of 50% as a marker. Anything above 50% is a amber to red flag.…

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Hi - I had a good look at this company and I am afraid there are too many questions unanswered. For a start this is far from being an easy-to-understand business model. Basically it calls for a heavy investment from the company upfront in return for a periodic income stream from the consumer and from energy supplying partners. How this stacks up in making a…

"I know the share price will bottom before the news gets better..." Eh, well, it may not get better. Think about Enron which used off balance sheet vehicles to hide large losses and debt. But then Tesco wouldn't do that, or would they?

What intrigues me is that the sage of omaha still holds a substantial stake despite a vast paper loss. But then he might have a different agenda to us mere mortals.

The accounting problems with Tesco may be more deep rooted than currently perceived. Here are two thoughts from reliable sources: Tesco is only one of three FTSE 100 companies still offering full defined benefit pensions to some 300,000 eligible employees. The current pension scheme shortfall is £3.2bn Here is an extract from today’s article in the Times: “It’s a puzzle to understand how Tesco is…

All supermarkets are in a destructive spiral of intense competition with ever decreasing margins and profits. The winners are the customers and the losers are the investors. But the traditional grocers, Tesco, Sainsbury, Waitrose et al should be aware of another ogre waiting to eat their lunch. Online same-day delivery of all your groceries. Silly and preposterous? Well people said that of books in 1995,…