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I've always been interested in "alternative investment" propositions such as catastrophe insurance, litigation finance, etc. where returns can be expected to be uncorrelated with economic activity and general equity markets. I may have found another example in YCA.Demand for uranium has been depressed since the Fukushima disaster of 2011, and the so-called spot price of U3O8 oxide ("yellowcake") has fallen fairly steadily to a current…



JohnWigg's Latest Comments

re Manolete Partners (LON:MANO), as I hold Burford Capital (LON:BUR), I am naturally interested here. I haven't read the prospectus, but I have looked at the financials. (The obvious order of things?) On issue price (175p), PER ex-cash 18.2x (on 2018 PAT) or 12.2x (on assumed 48% pa growth rate, last three years). At about 200p, PERs are 21.6x and 14.5x. Flat profits in 2017…

There was a timely article in the FT this morning: https://www.ft.com/content/bce006d2-f8e2-11e8-8b7c-6fa24bd5409c (sorry, paywall) It includes: "an inverted yield curve is a warning sign precisely because it tells investors about expectations for the future and not necessarily about the state of things right now" I think it would be wrong to read inversion as a predictor, more a reporter of what's out there. The market, though,…

@ Reacher - first post below. Manolete Partners looks very interesting. At first sight the valuation is a bit rich, but the track record may support it. I see from the LSE link that they have a good base of institutins on board, so it will be a thin market. They are very specialised (insolvency funders) and reckon Brexit will bring in business! One thing…

re eve Sleep (LON:EVE), Woodford "putting more and more of his own cash in". If it were his own cash, it would be none of our business. It's cash belonging to holders of his Equity Income Fund. Not the first time.

The 'red flag' has been flying for ages, with the share price down 2/3 over about five years. Look at the margins, the debt, and the experience of similar companies starting with Carillion (already bust). Neil Woodford? His stock picks recently have been disastrous, you could almost rate him as a contrarian indicator of what to buy.


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