You’ve not addressed it:
Richard Murphy says:
October 20 2019 at 10:56 am
He also chose badlyAnd what this shows is that markets are not able to support such activity
Hence the need for an active state backed investment bank issuing its own bonds
I think you’ll find I have addressed this issue
Because you’ve not worked out how to make sure the state doesn’t make bad investments. After all, the idea that John McDonnell knows how to invest for our pensions is pretty much of a stretch, isn’t it…..
What’s hilarious about this exchange is that Murphy is having a go at Woodford by saying that investing in big companies is wrong because people should be investing in start-ups and smaller companies.
And it’s precisely because Woodford did that and a lot of those start-ups then did badly and were illiquid so Woodford couldn’t get the money out that the fund failed.
Murphy’s such a dumb-ass he can’t even see that he’s destroyed his own arguments.
Also he is asked “why don’t you invest in renewables”…his answer is “I can’t find a way to invest”..
This highlights his ignorance and lack of knowledge.. there are a load of Renewable Investment Trusts available on the Stock Market which are easy to buy and are largely owned by private individuals.
I think he has knowledge in certain areas (whether you agree or disagree is another issue).. but because he likes to pass opinion on nearly everything it is very obvious when he steps outside his comfort zone as he talks like a complete amateur..
“I can’t find a way to invest”
A Google search would have helped him there.
but because he likes to pass opinion on nearly everything it is very obvious when he steps outside his comfort zone as he talks like a complete amateur..
but because he likes to pass opinion on nearly everything he talks through his arse…
FIFY
Surely, isn’t the question to ask is; what is Spud’s own pension invested in?
I think he has knowledge in certain areas (whether you agree or disagree is another issue).. but because he likes to pass opinion on nearly everything it is very obvious when he steps outside his comfort zone as he talks like a complete amateur..
First of all, I just about spit coffee on the screen when I saw “Jayne County” commenting on his site. I’m old enough to know who Wayne County and the Electric Chairs were…
The problem with Richard Murphy is that he really doesn’t have knowledge in any of areas he opines upon. His grasp of financial accounting and taxation are sub-professional at best. He proudly proclaims his lack of any formal training in economics and, well, it shows. He is hopeless in the areas of finance (both public and corporate) and law (business or otherwise). Add a combination of inconsistency and arrogance at a personal level and you have a hopeless incompetent in all areas.
He’s the William McGonagall of 21st century “public intellectuals”, and should be treated as such.
Yes of course there are ways to invest in renewables but, let’s face it, it is likely to blow up if you are not very cautious in your choices. Take, for example, Gresham House, a fund manager that specialises in renewable energy generation, solar power, wind, forestry, infrastructure funds and public and private equity investment strategies. Obviously this is going to stand or fall by whether governments continue to prop up the price of intermittently available and uncontrollable energy. If and when the cfd payments stop or wind down, this fund is likely to come a massive cropper
They have another fund that is even worse from my point of view. Gresham House Energy Storage Fund , a specialist investment company that invests in UK energy storage systems (ESS), has raised £41.6m in a placing, at 103p a share, and has now successfully raised the £200m outlined in November’s IPO. The company currently has 75 megawatts (MW) of capacity in six utility scale operational ESS and subject to successful commissioning, purchase of assets in the pipeline and upgrades to existing projects, total capacity is set to rise to 229MW by the end of the first quarter of 2020, hence the rationale for the equity raise.
As a way of passing investors’ money into the pockets of the fund manager, this one seems hard to beat and it is above all highly woke
@Andrew C
Spot on. Woodford also invested too much in unlisted companies then had to employ questionable actions to have them listed in Guernsey and shuffling assets between the UT and IT
Richie is a fool
A Tweet from @AndrewOrlowski (who some may remember from his days at ElReg):
So it begins.
2007: “Anyone can own a property” – junk mortages
2019: “Anyone can be an entrepreneur” – junk startups
Not everyone is joining up these dots yet
He’s referencing this article in The Times (behind their paywall).
@Chris Miller
Thanks. I gave up on El Reg after the Left Wing Woke PC Coup and their boastful New Year message “We’re going Left & PC, readers don’t matter”. Not surprised Andrew O now purged too.
Anyone know who’s behind their funding?
I think ElReg is still profitable, but not as profitable as it was under the previous administration. But nearly all the good (and technically astute) writers have gone.