So why isn’t he rich as Croesus?

Richard Murphy says:
October 9 2015 at 8:52 am
I have noted the market response

Do you think that reflects reality?

Do you think the equity markets get their view right when they hit 7,000 in the UK?

Shall we look at fundamentals here and not the froth? That’s what I am quite good at. Equities analysts are about as far removed from that as it is possible to get

11 thoughts on “So why isn’t he rich as Croesus?”

  1. He wouldn’t know a fundamental if it walked up and sliced his head off. Even by his standards the exchange on that thread is a humdinger – Cameron really got to him!

  2. I found it interesting that, in the wake of last weekend’s rugby, the doomsayers were expecting a FTSE crash on Monday. The result of course was a rise in FTSE. It was already in the price. I wonder what the miraculous Murph’s explanation of that is.

  3. Re DB, once the one – offs are stripped out, the underlying profit was much higher than expected. The fundamentals seem OK. There are encouraging signs in some of the other basket cases eg Lloyds. Admittedly the wider macro picture is worrying but Murph cannot make a reasoned case for his doomsaying. Which makes it, candidly, valueless.

  4. Interesting piece on money laundering on naked capitalism, via capx, which notes that inflation surged in Moldova after the government tried a bit of PQE…

    Real world experiment v theory. Wonder what Feynman would have believed?

  5. If I may be so immodest as to propose GlenDorran’s Corollary to Betteridge’s Law:

    Any question about Richard Murphy can be answered:

    “Because he’s a cunt”

  6. “Shall we look at fundamentals here and not the froth? That’s what I am quite good at. ”

    Lol. He makes catwalk models seem modest and self-effacing in comparison.

  7. The inconvenient truth

    The big problem is of course that at some point in the future there will be another market slowdown, if not a full blown crash.

    At this point, Murphy will point out that he (alone) predicted it all along and how great he is, regardless of the cause. Any discrepancy in timing will be due to ‘neoliberals manipulating the market in the short term’ or similar.

    If you wake up every day and say it’s going to rain, eventually you’ll be right…!

  8. Rather ironic that Murphy refers to Cameron’s tasteless intervention in regard to Murphy’s new book.

    We all know Murphy has had at least 2 tasteless interventions with his wife, given he has two boys.

  9. Bloke not in Cymru

    So does he believe that every companies price should be based solely on its current trading accounts and forecasts? Are those the fundamentals he’s referring to?

  10. It was a typo on his part: it’s meant to say “shall we look at fundiments”. He’s good at pulling numbers out of his arse.

  11. GD

    Your description of RM may well be true, but its not very new politics

    bottom line is that he will never be a bulb that illuminates the room

    or gets out of the pot for that matter
    end of

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