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 Post subject: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 10:18 am 
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Anglo Irish clients plan €500m revenge fund

By Shane Ross


Sunday April 27 2008

A GROUP of clients of Anglo Irish Banks, including big builders and entrepreneurs, plan to set up a large investment fund to buy shares in the troubled bank.

A meeting took place in a Dublin hotel recently in which it was decided to buy shares worth up to €500m. Gerry Gannon of Gannon Homes and Sean Quinn are thought to have been targeted to join the consortium. Quinn is already a large shareholder.

Sources close to the group suggest that each member will be asked to put in several million euro. When the fund reaches €500m, it will be leveraged up with borrowings to buy further Anglo shares.

...


Leveraged up with borrowings eh? I wonder where they'll get the cash.


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 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 10:22 am 
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Leveraged up with borrowings eh? I wonder where they'll get the cash.[/quote]


Why Anglo of course :P


Last edited by mr_anderson on Mon Feb 23, 2009 7:35 pm, edited 2 times in total.

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 Post subject:
PostPosted: Sun Apr 27, 2008 11:45 am 
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Let's say they do succeed at what they intend, this will give the short sellers a second bite of the cherry and relieve them of even more money.

_________________


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 Post subject:
PostPosted: Sun Apr 27, 2008 12:51 pm 
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Green Bear wrote:
Let's say they do succeed at what they intend, this will give the short sellers a second bite of the cherry and relieve them of even more money.


Completely agree GB.
I suggest they call Joe Lewis for advice.


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 Post subject:
PostPosted: Sun Apr 27, 2008 1:44 pm 
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Now that's doubling down.


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 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 1:57 pm 
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Quote:
Anglo Irish clients plan €500m revenge fund

By Shane Ross


Sunday April 27 2008

A GROUP of clients of Anglo Irish Banks, including big builders and entrepreneurs, plan to set up a large investment fund to buy shares in the troubled bank.

A meeting took place in a Dublin hotel recently in which it was decided to buy shares worth up to €500m. Gerry Gannon of Gannon Homes and Sean Quinn are thought to have been targeted to join the consortium. Quinn is already a large shareholder.

Sources close to the group suggest that each member will be asked to put in several million euro. When the fund reaches €500m, it will be leveraged up with borrowings to buy further Anglo shares.

...


My opinion is that the buy-up clan have their backs to the wall and simply cannot afford to let Anglo drop.

The big question is -- who's going to loan them the leverage?

I hope the old boys' club know what they're doing.

Another thing -- surely you'd want to keep a plan like this a secret?

Why let this information advantage out in to the public?

Something's fishy...


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 Post subject:
PostPosted: Sun Apr 27, 2008 2:07 pm 
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Green Bear wrote:
Let's say they do succeed at what they intend, this will give the short sellers a second bite of the cherry and relieve them of even more money.


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.


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 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 6:03 pm 
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CelloPoint wrote:
Quote:


I hope the old boys' club know what they're doing.

...


They were on the money with ISTC:wink:


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 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 9:29 pm 
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Carnage wrote:
CelloPoint wrote:
Quote:


I hope the old boys' club know what they're doing.

...


They were on the money with ISTC:wink:


Whatever happens, it's gonna be dramatic. Should be an interesting week.


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 Post subject:
PostPosted: Sun Apr 27, 2008 9:29 pm 
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Posts: 308
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.

The whole article is laughable.


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