Good morning, it's Paul here!

Yesterday's report ending up being a bit of a monster, covering 8 companies in total after my evening updates. So to get you started for today, here is the link to that enlarged report.

Spreadex interview

We were discussing spread betting on small caps here the other day. There seemed to be some confusion on how it works. That gave me an idea! So I contacted Spreadex (who I do most of my small caps stuff with), and asked if they would like to do an audio interview with me on  . Anyway, they said yes. So it's the usual format - the questions come from you, and I ask them. If you would like to submit a question, here is the link to a form I've set up for this purpose. Please submit your questions using that link, asap - I need questions in today/tomorrow ideally, to give me time to prepare for the interview this Friday.

I'm not charging anything to do the interview, but am doing it because it should be an interesting discussion. It also might help people better understand the practicalities of using spread bets for small caps, clear up any misunderstandings, and reinforce the vital need for disciplined risk management.

I do want to emphasise that I am absolutely NOT recommending that people spread bet. It's potentially very dangerous, as I discovered to my cost in 2008. So I want to cover those issues in the interview, and talk about what I got so disastrously wrong in 2008, and how I'm managing the risk a lot better now. Spreadex have also improved their risk controls, so we'll cover all that.

So it should be an interesting interview/discussion.


I see that Jamie Dimon has made some caustic comments about Bitcoin - he called it a fraud which will eventually blow up. I'm not sure about it being a fraud, but it's quite obviously a speculative mania, as indeed are the increasing number of copycat crypto-currencies.

If something with no intrinsic value soars to ever higher levels, in a parabolic shaped graph, then it's a bubble. Bubbles always burst. Always. So it's really just a matter of time before this blows up.

Maybe I'm just bitter, as I got stretchered out several times whilst spread betting on it, foolishly! The trouble…

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