Hi, it's Paul here with a shorter & earlier than usual report.

NB. No reader requests today please, because I won't have time to do them - I have to attend a conference in London all afternoon & evening, so this will be a shorter & earlier report than usual. 

However, please feel free to leave your own comments on results & trading updates from companies that you find interesting, explaining why you think they look interesting. It's a team effort!

I completed yesterday's report in the evening, as the whole day was taken up with Conviviality (LON:CVR) . Additional sections on Somero Enterprises Inc (LON:SOM) and Empresaria (LON:EMR) were added. So here's the link for yesterday's full report, to get you started today.





Bitcoin

I see that is falling again. It's down to $7900. The recent peak was $20,000.

Recent developments have been that Google has apparently banned all advertising for fantasy currencies, following on from a similar ban by Facebook. Christine Lagarde of the IMF made extremely negative comments about fantasy currencies, saying they may need to be banned.

All this is inevitable because there is no way that governments will allow criminals and fantasists to undermine or replace the existing financial system, it just won't happen. Any such threats will ultimately be banned, although authorities tend to be very slow to react.

So I reiterate my previous firm conviction that fantasy currencies are doomed to failure. The fact that they have zero value is also rather important. You only have to go on to social media to see the type of people who are bullish on this stuff – these are not financially sophisticated people by and large. I don't know any serious investors who would go near crypto-currencies, because they can see it for what it is – a giant financial speculative bubble.

I've done quite a lot of research on block chain technology, and I feel that some form of adaptation of this could become very successful and of widespread use. However the speculative mania over completely artificial valuations put on the so-called coins, seems to be nearing the inevitable end-game – of total collapse.

Anyway, I am watching from the sidelines…

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