acsatix
17 Jan 2018
Re: Investors were misled so you mean this does not show up in net debt and officially and formally the accounts are correct?now... can you do us a favor? can you chack interserve and other companies like CLLN and see if this is a recuring thing sectorwide? or for that matter do you have an easy way to compile a list of companies with large "other creditors"... there is no need to do a brexit... we can just read the books better
Ubiq
17 Jan 2018
Re: Large late Buys Kenj2Regarding Friday’s big buys. Most likely shorters taking profits by closing their positions. Carillion was on the brink for a long while. Ubiq
Kenj2
17 Jan 2018
Large late Buys I know many on here have lost money, and so did I, although I bailed out at 47p.However, spare a thought for this investor.Date -- Time -- Price -- Volume - Trade- Bid - Ask -- Value --- Type12-Jan-18 16:52
5 15.1254 1,386,018 Buy* 14.20 14.47 £209.64k OThis after hours, or late reported trade cost someone £209k.Someone gambled big and lost heavily. Hopefully a Hedge Fund buying back their shorts, fearing a deal was imminent.There was another late large BUY for £60.9k at 181.So somebody clearly thought Carillion still had legs on Friday evening.[link]
numberbiter
17 Jan 2018
Investors were misled The biggest scandal in this miserable affair is that the absolutely appalling IFRS accounting system hides or misapplies liabilities. In Carillion's 2016 accounts Debt (the amount owned to banks) was shown as £592 million. The real figure was £1,353 million (or £1.353 billion). Carillion took advantage of the government's 'early payments scheme' whereby small businesses could get paid early, or on time at no cost. There were a number of participating banks in the Carillion scheme. Under the scheme a creditor would take his authorised invoice and the bank would pay out. So now, Carillion owed the bank for the settled creditor invoice. But instead of this being shown as 'debt' which it was, it was shown as 'other creditors'.I am accountant who is a strong Remainer, but I would happily change to being a 'Leaver' if as a result we scrapped IFRS accounting and went back to UK GAAP accounting.People who have lost money should complain the the International Accounting Standards Board.
acsatix
17 Jan 2018
Re: The Power of Suggestion "Unless you can watch your stock holdings decline by 50% without becoming panic-stricken, you should not be in the stock market."-- Warren Buffett
cashpharma
17 Jan 2018
Re: The Power of Suggestion Keep your winners and ditch the dogs.Always cut losses, preferably at as low as 10%.I avoided Carillion but I learnt that the hard way elsewhere.
cashpharma
17 Jan 2018
Re: The Power of Suggestion I avoided Carillion but I learnt the hard way elsewhere that you must always cut losses , preferably at as low as 10% and keep your winners instead of taking profits . Its a very difficult thing to do but if your don't you will end up with a portfolio of dogs.
acsatix
17 Jan 2018
Re: The Power of Suggestion Ubiq,your message is good albeit useless. it could be useful if you pointed out the likely Carillions out there and the healthy and safe companies one should buy into.to be fair if you look at the not so controlled unwinding of carillion that is happening and the losses bank, government and smaller companies not to mention individuals like workers are enduring a more constructive approach by the govt. and banks was to be expected as there have been rescues of all kinds...but we are now in the screww u era as dogmatic prevails on pragmatic.... so yes I for one took a small punt on this knowing it was risky but potentially highly rewarding... a bit of fun in investing is allowed as anyhow a bit of gambling component exists in all decisions we take... so really there is no novice vs expert... people can get wrong at all level of experience... see buffett buying into Tesco...or you name it... anyhow as usual wisdom sharing with some concrete advice is always welcome... saying we should be careful is good advice that also my mummy gives.anyhow losing a grand on this is peanut as the portfolio goes up and down every day by morecheerio.
Ubiq
17 Jan 2018
The Power of Suggestion These boards have got a lot to answer for. No disrespect but the majority of posters are inexperienced novices prime to issuing Panglossian opinions that turn out to be badly wrong. As in the case with Carillion. Posters who were already invested in the company up to their eyeballs ramped it and advocated others should buy into it. You can’t blame them for doing that but novice investors who piled into Carillion should look at what’s happened at Carillion as a lesson well learned; albeit an expensive one. Never underestimate the power of suggestion, it really does plant subconscious ideas in peoples minds, and that can be lethal if those suggestions prove to be erroneous. My message to invesetors is that there’s plenty more Carillions out there waiting to happen. So when you come on these boards and people who are heavily invested are posting positive factors and opinions on distressed companies, advising people to buy them-ignore them. There’s hundreds of healthy companies you can invest in so why focus on those in dire straits, just because they’re cheap. They’re cheap for a reason as Carillion know. I always look at it like this: If you invested £10k in Carillion @ £3 You would have lost £10kIf you invested £10k in Carillion @ £0.18You would have still lost £10kRemember that next time you’re thinking of buying a cheap share in distress. I hope no one will regard the message as gloating. As investors we’re all in the same boat, the important thing is that you don’t repeat the same mistakes again. Ubiq
SS18 ICBM
16 Jan 2018
Re: A sad day "Not only have I moved towards a defensive outlook, I have also bought into Japan, Vietnam, India and Macau. Dividends are scarce in those investments although Vietnam VOF has started paying them every quarter."If you're a dividend chaser, may I suggest you look into Singaporean stocks? Singapore is a First World, super-advanced country with first-class governance (and a GDP per capita higher than ours), not at all like the s&%!hole countries (to borrow The Donald's terminology) which surround it. I would assume stocks like SingTel or DBS Bank or SGX (the Singapore Stock Exchange itself) or many of their high dividend-paying REITs would be a safer alternative to stocks from Mickey Mouse countries like Vietnam or India. Vietnam may be an interesting country for someone who spends hours at HMV looking for war movie DVDs like First Blood or John Rambo, but I've never heard it to be a safe place to park one's hard-earned wonga (nor have I heard anything to suggest the contrary). But, as always, DYOR.
casabanker
16 Jan 2018
Re: A sad day Hello Ripley,Commiserations over your loss. I have employed two brokers and been scammed - not by the brokers I hasten to add. It's been a costly learning curve but once I gained confidence running my own accounts, I will never return to others running my affairs. I do have a reliable and trustworthy financial advisor just in case I flop. My experience of brokers is that they come up with suggestions on stocks without doing the necessary balance sheet research. In effect, they collect their commission, do not care too much about the result and then want you to "churn"ie, sell and buy into something else. effectively using your money to earn them more and more income. They do not make much out of a buy and hold portfolio after all. Casa.
acsatix
16 Jan 2018
living a dangerous life 
Carillion held just £29m in cash when it collapsedDocument shows construction group owed £1.3bn to banks as government demands fast-track probe of directorsreally are these guys nuts? what were they smoking at board meetings?
Gooffy
16 Jan 2018
Mr Gove Richard Howson and others be very scared Mr Gove is after you
LifeInPlastic
16 Jan 2018
Re: Joke Or in this case, why didn't the auditor cross the road? Because Carillion still have not finished building it.... (
cashpharma
16 Jan 2018
Re: Joke why did the auditor cross the road?Because he looked in the audit file and that's what they did last year.
