Maybe that’s what the smoke and mirrors “hotel meeting” cum press-release is all about.
CelloPoint’s conspiracy theory: Friday’s Anglo closing price was jacked up for the weekend newspaper coverage where an information bomb was dropped – the intention is to fool the short-term market manipulators. Anglo has been a bit of a honey pot the last couple of weeks – if the manipulators think things are “all settled down now”, they’ll quit and move on to the next target.
If they’d just go away! They’re like flies hovering all around is. Once they’re gone, we can go about converting our horse manure back in to precious jewels.
Shorting is a game built on rumour and fear e.g. start a rumour saying that anglo is running out of cash and shareholders and depositers will take fright giving the shorter a healthy profit. Combating shorters is done in exactly the same way e.g. start a rumour that X of Irish richest business are going to going to pool Z million and borrow Y million and invest it all in anglo stocks and this a. encourages other investors to get in ahead of them to profit from the inevitable run up b. scares shorters that their buy back will get more expensive and encourages them to close out their short positions c. discourages any further shorting because of the prospect of a run up in the price.
Panzraam, does the fact that Shane Ross wrote the article not lend it a certain credibility? Considering his article a fortnight ago: independent.ie/opinion/colum … 46192.html
Or do you think he has been taken for a ride and that that is the revenge the ‘friends of Anglo’ are after? (Sounds like an Agatha Christie novel, if only I could remember which one!).
That reminds me, I must give Ernest Saunders a ring and see what his cure for Alzheimer’s was and chide him for not releasing it to the public. Some people are scum and it only become apparent when they don’t take their lumps. (Hey, provost, that’s probably libel).
Oh! come on.
OW getting his April fools in a few days early is one thing, but sneaking one in just before the end of April is out of order.
They didn’t get wealthy enough to do this by being stupid enough to try it.
If they were going to do it they wouldn’t be stupid enough to announce it.
The only logical explaination is that they are hoping to scare some of the short sellers into closing out their positions with the threat of a big buy, but without the really risky step of actually buying in.
If they seriously want to try and support the Anglo Share price by ploughing money (they don’t have) into it then they need to have a chat with Norman Lamont.
This is Alamo territory. A couple of rich guys hoping to remain solvent longer than the market can remain irrational.
Surely it’ll be similar to Pilots buying a chunk of Aer Lingus. Let’s not fart about investing our money in a diversified portfolio for 30 years. Let’s lose as much as we can now.
Oooh! Oooh!, If we borrow we can lose even more!!!