Restore (RST) [I hold] has to be the best business model ever. Clients pay them recurring revenues for typically 15 years, to do literally nothing!! Just storing boxes with papers in them. It's not economic to digitise them, and clients can't dispose of the papers as they could be important.
Sorry, meant Jamaica Wine House, near Bank, St Michael's Alley.
I'll be at the Jamaica Inn tonight from about 16:30 to 19:30, so drop by if ur in the area?!
Good summary James. SDY profit warning today yet another example of a highly misleading RNS. The truth is revealed shortly afterwards by brokers, with profit completely collapsing, into a small loss!! I've added it to my "naughty step" - a record of companies whose RNSs (and mgt?) cannot be trusted
Finally getting over my man flu, and heading into London to meet up with one of my substack subscribers, David, who posts excellent, well-informed comments on shares. I really enjoy the social aspect of investing, met some great people over the years who have become good friends.
Oh my apologies. I'll run all future posts past you, to get your authorisation first.
Listening to Starmer's speech re Iran War. As usual with Labour, it just turns into a party political broadcast.
I'm fuming over the deceptive TU from Topps Tiles (TPT) this morning. Rather waffly, but sounded in line. Then bang! Edison drops forecast profit by 20%. So it's a profit warning. Delivered by the back door. This should be illegal. I now don't trust the new CEO. Livid, as I bought more earlier.
Good news on BRCK bid approach at 59% premium, it's stupidly cheap (I hold, so would say that). Closed most of my shorts (hedges) this morning, and recycled the margin into Barratt Redrow, one of my top 40 "bonkers bargains" share ideas list.
Just had a look through S4 Capital's (SFOR) results. As usual, dripping with large adjustments. Plenty of cash... for now, but what happens when its bonds need repaying in 2028? There's not enough cash to cover it. Little cash generation - most is a one-off, from lower Receivables. Looks weak to me
Testing to see if I can post video clips here. This is my favourite scene from IT Crowd, where Jen lied about being a fluent Italian speaker (because she was angry about not getting enough attention), and improvises ... ! youtu.be/PRskvLyCoU0?...
CockneyRebel's weekly review has just come through, essential reading for me every Friday, highly recommended if you don't already follow him. cockneyrebel.substack.com/p/the-weeken...
This annoying phrase "net net" that I keep hearing financial people use, seems to mean "net" in most cases. Or it can mean anything they like, people seem to use it in lots of different circumstances. Surely terms used should add clarity, not fog?! I'll be glad when it goes out of fashion again.
Here's today's Small/Mid Cap Value Report, obviously very quiet on Fridays (hence free). I included my notes from TinyBuild (ahead exp results 19/3/2026, I hold), which took a while to write up. paulypilot.substack.com/p/fri-27-mar...
Surely I’m not the only one who thinks this whenever they see a map of The Strait Of Hormuz on the news?
Prompted by a subscriber to my substack (paulypilot.substack.com ) - I've dug up my Bluesky account, and will have a fresh look. Is it a useful place to discuss UK shares & macro? Trying to avoid the sinking sands of political rants!!
