Markets,High Courts & Utter disbelief

This afternoon i would like to focus on one very important point followed by secondary thoughts. Today my buddies Tom Winnifrith and Dan Levi (BMD) attended the High court to commence battle against high profile city law firm Pinsent Mason on behalf of Sefton resource.

Whilst I have no personal issue with Pinsent Mason or Sefton resources, I do have issue with companies that appear,allege or by actual fact feather their own nest along with the universal story of investors attempting to escalate complaints with the FCA etc regarding concerns they hold toward a company.

On this occassion its SER but previously there has been a whole bunch of companies that report the goodtimes whilst the shit hits the fan RE: Silvermere Energy release today here:

http://www.investegate.co.uk/silvermere-energy–slme-/rns/publication-of-circular—notice-of-gm/201307311521106324K/

This company was selling gas and recovering oil one minute and making a royal cock up the next. They failed to secure or complete its funding drive and by default the company has now fell upon the sword, I commented this could happen i genuinely didn’t believe it would. I apologise for the speculative recommendation at 2p and as a matter of course I will be writing more about this very soon.

Sefton Resource have been churning out Rns after Rns stating one thing and then another. The actual facts stand to date:

The company’s share price has historically declined.
The same story on potential is told yet delivery of this potential is in short demand.
The head honcho has been paid a significant amount in wages for historically running a company downwards in the chart.
We know that shareholder value has declined significantly over the last few years yet the company instructs a high profile law firm (Who is paying for this?)

The thing that really gets my goat is i have spoken to a number of seasoned investors/writers/commentators regarding their personal experiences of raising a complaint and the feedback is alarming.

The general sentiment was one of disappointment as they felt fobbed off, Misunderstood and often humoured… To token the following performance from these unnamed companies the outcome was suspension,de-listing and or total loss!

This is unacceptable in my opinion and something has to give, I guess the outcome of the high court battle will become known eventually but in the meantime i suggest investors start to observe,evaluate and stand up and be heard. It is a scandal that 3-4 people I have spoken to personally off record would convey the same message with the feeling that this is part of the course ”ITS NOT AND ITS A CRYING SHAME THAT PEOPLE NOW HAVE LOST FAITH IN ONE OF THE WORLDS BIGGEST INSTITUTIONS IN THE WORLD ” The LSE.

What sort of a message does this send out?
How long can people blow smoke up your behind before you remove the ” Fantasy mask ”
When will investors give up the relentless sales pitch of a shit

Every Forum,BB and Public arena has its very own group of desperate (Often at heavy loss) residents that try and keep the momentum going forward. When the reality is this is just a singular act of desperation from an uneducated individual/s perspective of inherent hope.

Mull over these thoughts and keep your head in the sand at your own peril

ALl the very best Doc

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2 Responses to Markets,High Courts & Utter disbelief

  1. Loverat says:

    I’m afraid this type of thing is happening all the time nowadays. Some years ago I gave the FSA some very detailed and accurate information about a few high profile market abuse offenders. Still waiting for action but I suspect nothing will come of it because it would have been embarrassing because the offenders were also known in some circles for helping the victims of financial crime.

    The regulator are just not interested. On the point about TW and BMD I do not believe that these people actually help investors. By referring to investors as morons and gloating when they suffer losses hardly seems like corporate cruscader material to me. It appears both individuals trash share prices of many companies based on speculation and possibly which positions they hold. Hardly a level playing field is it?

    Anyway – I wonder how they got on in court today. Perhaps just an early hearing but I suspect based on several recent judgements which I have researched and compared with this situation, they are going to struggle here.

  2. seanbenn says:

    Love Rat,

    Thanks for the reply and Indeed I agree with you to a degree here however the BMD and TW. comment ” I see your point ” I believe that Tom and Dan recieve alot of negatives from the SER case etc and expect some of the comments of moron are aimed at them.

    I have myself been at the shitty end of the stick from retail loons but really don’t judge the majority by the minority actions.

    The outcome will be interesting which ever way it plays out….

    Sad to hear another case taken to the regulator (Yours) and again no action…….

    All the best Doc

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