The banks, then the retailers

Am betting one of them has a Romanian CEO with a drink problem!
 
viv1969 said:
Lets' just cut to the chase Steve.

Who would you like to shoot this time?
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For a financial crime. None. Long spell in the pokey though.

Has anyone bought shares in Tesco, I have and I feel I have been mislead due to the false profits they've reported. I will sell at a massive loss, and thats a gamble with the stockmarket for sure, but you'd like to think the companies you invest into are at least telling the truth about what they make and do not make.

Is there a legal case to pursue here.

Despite that, I suspect this is the tip for a very large ugly iceberg, I doubt they are the only ones "at it"
 
ST4 said:
I will sell at a massive loss, and thats a gamble with the stockmarket for sure, but you'd like to think the companies you invest into are at least telling the truth about what they make and do not make.
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I wouldn't sell now as it just can't get any worse, or can it? They have to get their act together at some point
 
daugirdas said:
I wouldn't sell now as it just can't get any worse, or can it? They have to get their act together at some point
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They are worth over a pound a share. They could go to penny stock like GEC (Marconi) or the banks. Big companies can fall.

As the biggest private sector employer in Britain we better hope they don't as that's a lot of people jobless
 
ST4 said:
They are worth over a pound a share. They could go to penny stock like GEC (Marconi) or the banks. Big companies can fall.

As the biggest private sector employer in Britain we better hope they don't as that's a lot of people jobless
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Tesco is a bit more than just a fictional banking entity. They own lots of land, retail stores, etc. They will always be worth something even in the worst case. All they need is to get the pricing and customer relationship right. How f*****g hard could it be?
 
daugirdas said:
Tesco is a bit more than just a fictional banking entity. They own lots of land, retail stores, etc. They will always be worth something even in the worst case. All they need is to get the pricing and customer relationship right. How f*****g hard could it be?
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The customer relationship is fine, the pricing is reasonable, its perception that a fall in profits is a bad thing. It isn't. But lying about the extent of it is. It is dishonest. If Tesco focussed more on UK retail and its banking products (which are doing well) rather than frivolouus foreign ventures, it would be in a stronger boat
 
mid_gen said:
I'm sure there will be lots of sensible people ready to take them off your hands :)
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I am sure there are some investors buying exactly those kind of shares... It can double back in value more easily than some dubious overhyped startup.
 
Wait until the price drop has bottomed out, then sell? Don't see the point, it's a sound business fundamentally and the price is unlikely to drop further. Once the creative accountancy brouhaha blows over it'll likely recover.
 
mid_gen said:
Wait until the price drop has bottomed out, then sell? Don't see the point, it's a sound business fundamentally and the price is unlikely to drop further. Once the creative accountancy brouhaha blows over it'll likely recover.
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It might not bottom out...do you cut your loses or ride the storm. In my case, I will do a mixture of both to mitigate against all odds
 
ST4 said:
It might not bottom out...do you cut your loses or ride the storm. In my case, I will do a mixture of both to mitigate against all odds
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Ideally you cut the losses as early as possible, i.e. when the first allegation just surfaced. I think it is now too far in the game not to wait it out, unless you know something horse-meaty that none of us don't...

edit: http://www.fool.co.uk/investing/2014/10/31/tesco-plc-is-the-scariest-investment-this-halloween/
Maybe jump on the LIDL bandwagon instead? :p
 
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