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Real Name: Roger Lawson

Occupation: Private Investor

Location: London

About Me:

An active private investor and entrepreneur. An active member of ShareSoc which promotes the interests of individual stock market investors.


Investment Strategy
I trade... constantly
I tend to buy... after much research
I hold for... years
Diversification is ... essential to reduce risk
Picking quality companies where the management is both competent and can be trusted. I like positive cash flow and good return on capital.

Website

Web Address: http://https://roliscon.blog/

Address: PO Box 62
Chislehurst
Kent
UNITED KINGDOM
BR7 5YB

Tel: 02082950378

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Roger Lawson's Latest Blogs

ShareSoc has recommended voting against the three non-executive directors at the forthcoming AGM of Intercede Group. They all sit on the Remuneration Committee that awarded the LTIP - the source of many complaints. They are not truly independent and corporate governance is generally poor at this company. See www.sharesoc.org/Intercede_Update_4.pdf for a full explanation. Roger Lawson

Tesco issued their preliminary results this week, and there were few major surprises in the financial numbers. As expected, the UK business had a comparatively poor year against its major competitors, offset by good growth in the rest of the world. But the US “Fresh & Easy” business still looks rather sickly. Group sales were up 7.4% which is not bad for most retail businesses…

RM (LON:RM.) is an IT company which operates in the education sector but which has recently faced major difficulties. With the company primarily focussed on the UK public sector market, it has faced a downturn in revenue in several of its operations. To quote from the new Chairman’s statement in the Annual Report: “In recent years, while recognising the market was changing, the severity of…

A takeover bid for Group NBT was announced this morning – a cash offer of 550p per share from Hg Capital. On a quick analysis it does not look particularly attractive – a prospective p/e of 15 and 2 times revenue for what is a high growth company in a hot sector. Talking to the chief executive, it seems the bid came out of the…



Roger Lawson's Latest Comments

CAKE is clearly a similar case to Globo, also audited by Grant Thornton and where the cash claimed on the balance sheet had disappeared. Regulatory authorities still pursuing that case I understand. Auditors should always independently verify the claimed bank deposits but there is at least one example I remember where they were given fake information. I would be very surprised if the alleged cash…

My comments on the accounts of Patisserie, as a holder of the shares, and on Telford trading here: https://roliscon.blog/2018/10/10/black-hole-in-patisserie-holdings-audit-review-telford-homes-and-brexit/ On Patisserie, perhaps my questions at the AGM on revenue recognition were very much to the point.

Paul: Pretty much agree with your comments on Brexit and Corbyn. Incidentally I had a letter published in the Financial Times today on the subject of Brexit, which was very kind of them as I effectively criticised their editorial policies. It was headlined “Please – no more letters from moaning Remainers” and was in response to two previous letters from clearly biased correspondents. You can…

There were other ways it could have been handled, as it was in other countries such as the USA. The Immediate problem was that the RBS bank was out of cash - that tells me it was a liquidity crisis not a question of balance sheet solvency - the latter only appeared as a result of actions by the Government, the Bank of England, et…

Yes I watched the programme on RBS last night. Could have been a PR exercise for Alistair Darling when in reality he did a great job of destroying shareholder value by effectively nationalising RBS and partly the same for other banks. It was a liquidity crisis that the Bank of England could have tackled in the usual way but the Labour Government was keen to…

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