Cawkwell's Evil Day

neil

Legendary member
5,167 747
Infamous BEAR RAIDER Simon Cawkwell, aka EVIL KNIEVIL, has taken a stonking £1.2 Million loss on his long standing short position in Regus.

After buying back the stock at the behest of broker Cantor Fitzgerald, a philosophical Cawkwell said, " Now and again the biter is bit."

Cawkwell held his 6m "shorts" with Cantor through Contracts For Difference ( CFD's ). He sold in the belief that Regus would go bust.

Instead Regus soared 47pc last week, to 49pence yesterday, after a US bankruptcy court approved a restructuring plan.

Source: Today's Daily Mail.

Just shows you can't win them all albeit I think he wins more than he loses.

:eek:
 

stevet

Established member
917 5
yep - i thought they are were a prime short as well and a dream one at that - nothing like a short going to zero and that one seemed a prime target!

well glad i dont do that **** anymore! its the most frustrating game to see others going long bankrupt stocks - dont know if thats the case with regus as i dont know their fundamentals - but once you have had it happen to you a few times - you really wonder just how blind people are
 

stevet

Established member
917 5
Trader333

its all gambling - its just wether you take the house or punter side of the bet

and shorting stocks in the belief they will go to zero puts you firmly in the hands of the punters and if they keep buying up your crap share and push the price up - in the end you get blown out

again - dont know if thats the case here

on the face of it regus, from when they went public - was always gonna be nonesense - high fixed costs not related to income - great when you cover the bottom line - its all profit after that - but until then - a knuckle coaster ride
 

CityTrader

Established member
665 26
FTSE Beater said:
Just think. Someone somewhere was on the other side of that trade :eek:

Unfortunately, not long of 6mil(! )but I went long first thing Thursday morning, after the news was announced and sold them Friday lunchtime. Shorted them Monday, and bought them back Wednesday morning - best 2 trades I've had in quite a while.

For what it's worth I heard this Simon Cawkwell shorted Photo Me ( possibly explains the suprious rumour in white Times about a large seller- later refuted by SCIM) and as it was one I've been in and out of before, I actually went long on the back it - I hate to actually talk about current positions on these boards, but 1) it's the first time I've ever emntioned a "live" position, and 2) it's really only in the context of this Cawkwell character.
 

wysinawyg

Active member
186 1
Regus was basically a rigged market as I understand it with the founder buying up most of the shares through CFDs. As I understand it EK was short it with the same CFD broker and has been compulsorily closed by the CFD provider (not sure whether that is the founder asking for that or closing his position or quite what).

wysi
 

stevet

Established member
917 5
Photo Me - now thats a name from the past for me - there was a managment who really knew how to move the accounts around - well ahead of their time if i think about it now
 

lucymick

Newbie
5 0
He is shorting Photome(125,000 shares) hope he is right and he and his family are buying 3DM(million shares)
 

CityTrader

Established member
665 26
stevet - spot on and when management sells you sell ( think they sold at 400p??) and when they buy, you buy= they last bought at the placing 2 months ago - around these levels.

Lucymick125,000 shares? where did you get this from? surprised it's not more, mind you I haven't seen any press (plant) stories yet so maybe he's trying to build it up first?
 
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Trader333

Moderator
8,606 932
stevet,

its all gambling - its just wether you take the house or punter side of the bet

Every aspect of life is the same, when you cross the road you gamble on not being run over. However, some people will cross without looking and in rush hour and others will cross when it is quiet and using vision to improve their chances of making it to the other side but it is still a gamble.

In view of the fact that you are constantly lecturing us in a condescending way on almost every aspect of trading, I am surprised you didnt realise my intent on that post.



Paul
 

stevet

Established member
917 5
trader333

"lecturing us in a condescending "

if you see what i say as the above - it says as much about you as it says about me

i dont lecture - thats teaching - if i was teaching i would be charging - i have an opinion and i give it - right or wrong - and if other want to tell me to **** off - thats fine with me (though i would point out that i have never been a subscriber to the theory of turning the other cheek) - and if others think i am wrong in what i say and put up a reasonable argument to support their opinion - perhaps i will learn from their comments

if you thiink my tone is condescending - not everyone might - so perhaps look at why you think that and why you are moved to say it
 
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FTSE Beater

Experienced member
1,518 5
Gentlemen
Please be polite towards each other :)

It's true to say that everything in life is a gamble. We work out the risks constantly. Why don't you drink petrol? Simple it has a high probablitiy of killing you.

Evil Knievel must have accessed the risk and seem that it was worth taking. I have a feeling that his loss would have been a lot more than he intended. I presume the share gapped something awful on that news :(

<hr>
Hi Citytrader

It's great to hear you got some of it :p
 

Trader333

Moderator
8,606 932
stevet,

so perhaps look at why you think that and why you are moved to say it

Said in a true condescending lecturer style

Oh and I forgot to mention that you always have to have the last say as well.

I wont be commenting or replying to any posts made by you in future and maybe you will extend me the same courtesy.


Paul
 

neil

Legendary member
5,167 747
I think Evil was an accountant who uses funnymentals to assess whether or not a company is in trouble. But this time the courts gave the firm breathing space thus frightening the bears?
 
 
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