The Observer on money

They never do quite seem to get it:

and Tesla’s value neared 27.2 times its earnings, according to Bloomberg. For comparison, General Motors trades at a multiple of 2.6 and Ford at 2.3.

Don’t think so. Revenues perhaps, but not earnings. Ford had sales of $160 billion perhaps, with a market cap of $40 billion.

Sure, we can mutter that earnings is what is earned and thus is indeed revenue but that’s not how the words are used in matters financial, is it?

And the idea that a car company should be at 27 times revenues……

On Meghan’s Money

Was just interested where it had come from. Middling actress, £5 million?

Have a feeling that that’s a self-declaration there. Rootling around – not very hard – she was getting $37,000 a show for suits apparently. $300,000 and change for a year. And that would be the pay toward the end of the run, not the beginning I would think. Knock taxes and living expenses off that and well, £5 million banked sounds a lot.

Sure, brands, sponsorships, film roles etc.

And, well, not sure I believe the total sum really.

Entirely agreed that TV and film is a good way for a toothsome lass to gain a “fortune”, will beat many others for those who succeed.

But £5 million banked? Really not sure I believe it and would want to see the bank accounts before I did.

Common Gambling Mistakes You Can Easily Avoid

There is lots of fun to enjoy and gain from gambling, and one of the most exciting is the fact that you can win real money while playing the games. In all this, it involves a lot of practice before one can register long term success in gambling. Mistakes abound among the professionals and amateurs, and while you can’t say that there is a way of ensuring perfection in the casinos, there are some errors that could be curbed to ensure a better experience at the casinos. So for you to have a better experience at the casinos, read and understand the things you need to do and the common mistakes you are supposed to avoid.

Ignoring Your Bankroll While Playing

This stands as one of the most essential of the mistakes to avoid because it is one mistake that many players make most of the times. Some methods could be employed for a better bankroll management. The new players should learn how to create a profitable bankroll first before delving into the proper management of that. Whenever you set how much you can wager based on the amount you can lose without qualms, ensure to stick with it and not spend more than that no matter what happens in the games.

Gambling Under the Influence

The fact remains that we are always told not to drink and drive. The same thing is applicable with gambling because the ability to make proper judgments through proper thinking is limited when you are under the influence of alcohol or drugs. So, when you gamble under the influence of anything at all, your ability to make the best choices is hampered. In most cases, you see gamblers downing the bottles while they gamble. This does not just distract you from concentrating in the game and following what the croupier does, it limits your chances of thinking properly and landing the right wins.

Believing In the Fallacies about Gambling

The major gambling fallacy says that a player is meant to win after a long time of losing. Here, players normally believe that when there is a winning streak in any game, the next thing to follow will be a losing streak, and that when a losing streak happens, it will be followed by a winning streak. They say that when something has not happened for long time or an outcome has not been witnessed for long, it will soon take place. Because of this, they always will go with the other result if one result has been experienced for some time. For instance, when it drops on the red ball 5 times, the next likely result will be for it to drop on black. But this is not true, as everything on the casinos happen based on the results of the random number generators. So, avoid wagering based on the fallacy.

Not Knowing the Rules

The first thing to do before you play any game is to learn the rules and conditions attached to it. When you fail to do this and make the mistake of jumping into games that you do not understand, the result will always be poor decisions, and this will always have a negative impact on the outcome of the games. Now, this is not just a problem for the newbies. It could also happen to professionals who believe they know it all and fail to read the fine prints of games.

Playing the Wrong Games

You also have to ensure that you are playing the right games. The major reason for casino games is the fun. So, you must always play the games that allow you enjoy enough fun and entertainment. Do not go for the games that are too complicated and tedious for you in the online casinos in the UK. This will also mean going for games with the best odds. There are different variants of different games. Check well and choose the best before you start playing like with Conquestador Casino Online.

Not Playing With Optimum Strategy

Many professionals have studied the games in their own ways and come out with strategies seen as the best for these. Majority of the games are of chance, some are based on strategies and others on brain work. When you use the rightful strategies on those that need it, you will have the house edge lowered and your chances of winning increased. Make sure you do not ignore these strategies because they are to your advantage.

Using the Betting Systems

Though you are advised to use the optimum strategies, you are also advised to avoid betting systems. Many of these systems were devised by gamblers to aid them win, and they’ve gained popularity over the years. They may seem logical and workable, but always fail when they are needed most. There is the martingale system in roulette. This may not be good as it may scrap your bankroll before you come out of a bad gaming session and leave your bankrupt.

Not Playing For Free before Betting Real Money

This is a self-explanatory one. if you fail to use the demo or free versions to learn the ropes before wagering real money, it may come back to harm you because you do not know about the payouts, winning combinations, special features and how they work.

Playing In Casinos without License

Nobody regulates these gambling houses, and therefore you may fall into their hands and not recover your funds if anything happens to them. So, you need to clarify that they are licensed by a reputable body and that the body regulates their activities.

Not Registering an Account with the Right Details

When you over protect your identity and register with fake details, it may come back to hurt you when you want to make monetary moves like deposits and withdrawals, or when you lay complaints that must be rectified in your name.

Not Understanding the Casino Bonuses

The bonuses are the salt with which the casino games are eaten. But when you fail to understand them, do not use them, because they may come with conditions that will be detrimental to your sojourn at the casinos.

Tee Hee

Of course, it’s not really funny that someone’s been scammed. Except, obviously, it is:

Mr Simmonds has launched an urgent investigation into the deal, in which oil explorer Lekoil appears to have been tricked into thinking it had secured cash from the Qatar Investment Authority (QIA) for a project in offshore Nigeria.

Lekoil hired the ex-Foreign Office minister as a non-executive director last week and suspended its shares on Monday.

The Aim-listed explorer said it appeared to have struck a deal not with the QIA but with individuals masquerading as its representatives.

The only reason to fake a loan is as part of an advance fee fraud. And that this one is to finance a project in Nigeria is indeed Tee Hee.

There’s something wrong here

Can’t quite work out what it is:

British leather jacket brand Belstaff is dependent on the goodwill of billionaire owner Sir Jim Ratcliffe to survive, its auditor said after the heavily indebted firm posted a £48m loss.

The 110-year-old firm could struggle to operate without a financial lifeline from parent company Ineos, auditor KPMG said when signing off its books. Chemicals giant Ineos is owned by Sir Jim.

Accounts filed this month with Companies House show Belstaff’s losses narrowed to £48m during 2018, compared with £62m a year earlier.

Sales also fell slightly, down from £31m to £30.5m during 2018 after the firm closed a store at Westfield shopping centre in west London.

Sir Jim’s a canny guy and he’s certainly rich enough to be able to carry the losses of his favourite leather jacket maker.

It’s also, possibly and vaguely, for a company turning over £30 million odd to lose £48 million in a year. Something horrendous must have happened bu it can happen. But £100 million of losses over 2 years from £60 million turnover?

I think even Sir Jim would find that a little expensive for a side pocket luxury.

Summat’s wrong here. And the thing that’s wrong is that the company’s, financially at least, a right dog. Negative gross margins on their sales meaning that the entire overhead and plus some is loss.

That might be valid for a start up but something that been’s around a century?

All most amusing

We know the mantra. Bosses aren’t worth that much so the bastards shouldn’t be paid a lot. copyright The Guardian and all such points left.

John Lewis is not in a crisis – it has failed to adapt
Nils Pratley

The department store chain needs fresh thinking – its incoming boss may just provide it

Oh. Bosses are important, are they?

The phrase “substantially lower” than last year’s £115m probably implies a profit figure as thin as £50m. Two years ago, the department stores made £258m. In those circumstances, the exit of Paula Nickolds, boss of the department stores, was inevitable.

And the boss gets kicked if they don’t do the important things?

Hmm, mebbe that idea about the pay needs rethinking?

This seems a bit unfair

Shamed stock picker Neil Woodford and his partner pocketed more than £3 in every £10 of fees paid by investors even as his funds careened towards disaster – sparking calls for a crackdown on massive profits in the industry.

The fees are actually for that skill as stock picker. OK, turned out not to be all that great but still, that’s what the fees were for.

Not sure about this you know?

Companies who fail to pay the minimum wage should be punished more harshly in an effort to crack down on low pay, a new report recommends.

I’m sure there are people out there who simply don’t pay it at all. But the sort of cases we see in the papers are about people miscalculating the effects of uniform rules and who buys them, that sort of thing. Increasing the penalties is probably less effective here than making the rules clearer.

Of course, if people really, really, aren’t paying it then that’s a signal of how badly it is biting, how too high it is, isn’t it?


An accountancy firm recently appointed to audit Mike Ashley’s retail empire has ditched its top management after discovering its own accounts were mis-stated.

RSM quietly removed its chief executive, finance director and chief operating officer from their roles just before Christmas after what is understood to have been an internal accounting blunder.

This Quadriga thing fascinates

So, Canadian crypto exchange. Founder dies. All passwords to the stock of crypto are lost. Oooops!

Then it occurs to people that perhaps said founder was a bad ‘un. For he certainly had been involved in scams before. Hmm:

Lawyers representing the customers of a collapsed trading platform have demanded that the founder’s body is exhumed given what they claim are “questionable circumstances” surrounding his death.

Well, yes, first step is to find out whether he actually did die…..this one is going to run for years I think. ‘Cuz I think the first step is going to find out that he didn’t.

That Brexit uncertainty

Berkeley has also built up record cash reserves of £1.1 billion. It has indicated that it holds about £500 million of surplus cash that it will decide how to deploy once the political situation becomes clearer.

At some point the uncertainty, being cumulative, becomes more damaging than the act itself. We’re past that – in my view.

Get in there

Just to crow a bit. On the 25th (actually written a couple of days before) I tipped Ocado. On the following basis:

I don’t think the market is properly appreciating this move away from low margin and into potentially high margin business. I therefore think that there’s a good probability of a rerating of the stock over time. As with the gold rush, selling the tools is a better business than digging for it. And there’s an awful lot of supermarket chains out there in the different retail markets.

The price was 1,152p. Today we see:

Japan’s biggest supermarket chain has called on Ocado to build its new automated warehouses, even though the country leads the world in robot technology.

The deal, which marks the British technology and online retail group’s first move into Asia, lifted its shares by as much as 22 per cent yesterday before they closed 117p, or 9.7 per cent, higher at £13.25, valuing it at £9.5 billion.

Pure blind luck as a tip of course but fun all the same.

Not really

Travellers short-changed 7pc by choosing wrong option when spending overseas

Not short changed, no:

Foreign holidays and business trips are often expensive affairs, but travellers could be short-changing themselves by up to 10pc by choosing the wrong card machine option when they spend abroad.

Those who travel overseas are often given the option of paying in local currency or sterling when they pay by card in shops, bars and restaurants. However, travellers who pay in sterling are typically offered a currency conversion rate much poorer than the market rate.

“Make a choice that others disagree with” might be closer to hte truth.

Sure, it’s possible to surmise that they’re all stupid and thus make the “wrong” choice. It’s also possible to ponder that perhaps they prefer the certainty of knowing how much is going to be sucked out of their account to the extra they could gain through uncertainty.

More research is needed, as they say, to work out which of the two explanations holds.

Pah, mere raising of money

A secretive US start-up founded ­using technology developed at the University of Bristol has raised $230m (£179m) as it seeks to beat Google and IBM in the race to develop a working quantum computer.

PsiQuantum, founded by former Bristol professor Jeremy O’Brien, has secured the funds from investors ­including a venture capital fund started by former Google executive Andy ­Rubin.

It is believed to be one of the biggest investments to date in quantum computing, a potentially world-changing technology that relies on quantum ­mechanics to produce computers more powerful than any existing “classical” counterpart.

The professor of quantum computing at a more senior university, one of our lurkers here, is interested in making things work, not this mere cash malarkey.

God Lord, building something is artisanry, not even rising to the depths of trade!

Entirely, gloriously, classic

It’s time for McDonald’s to give its workers a new deal. I’ve worked at McDonald’s for six years, and today I’m on strike for the fourth time.


London is one of the most expensive cities in world to live in, yet McDonald’s pays barely more than the minimum wage. I get £8.80 an hour, and by the time I’ve paid rent and bills, I don’t have enough to live on. I had to work full time while I was studying at university just to be able to support myself.

Wonder what that degree was in, eh?

The truly weird thing here being that McDonald’s is well known for being a truly great place to try to work yourself up. Show any aptitude at all and they’ll have you on management track like a ferret up a Northern trouser leg.

Really would be fun to know what that degree was in…..