| | Sunday 9 September 2012 A MESSAGE FROM TOM by Tom Winnifrith I sense that I am a bit off the pace here but I have only just twigged that David Cameron is attempting to pass the most illiberal piece of legislation in British history. Indeed, The Communications Data Bill is the sort of fascist measure that East Germany's Stasi would have found of great interest.
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THAT WAS THE WEEK THAT WAS
It's Off to Work They Go
By Malcolm Stacy
Hello Share People.
As you sit in your armchair with a laptop and a dry martini, have you ever wondered how many people there are in the world involved in the markets?
Well, I have. And I am aware that most of them rely on a healthy market for his or her income. Except for professional shorters, I suppose, But there aren't many of them. Not compared to the hordes who wish shares to do well.
Now I am also encouraged that all these people who make a living from the financial markets are all striving to make even more money - for themselves, their employees and their clients.
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101 WAYS TO SAVE MONEY 
By Tom Winnifrith
Every week, ShareCrazy will excerpt a part of Tom Winnfrith's book 101 ways to save money in a recession.
Number 41: Repay your mortgage early
This is compound interest in reverse. Let us assume that your mortgage rate is 5% and that you are a basic rate taxpayer. Were you to invest £200 in an investment product to make £12 (a 6% return), after you have paid tax on that your return would be less than 5%. If you are a higher rate taxpayer at 50%, then you need to make £20 on your investment to generate a £10-after-tax return. Investing can be risky - certainly, to make a 10% return you have to accept that you may lose capital. But use that £200 to repay mortgage debt today and your saving is a guaranteed tax-free £10. And the way to effectively compound this is to ask your mortgage provider to maintain payments at the level they were before repayment. £200 compounded at 5% over 20 years is £530.66.
Put that another way: if you had a £100,000 mortgage repayable over 20 years, that one additional payment made in month one would reduce the term of your mortgage by five weeks. Now, were you to repay an additional £200 at the start of every year of your mortgage (you know you can afford it) and to maintain payments then you would (after just under 19 years) have reduced the capital outstanding by an additional £6,413.19, meaning that your mortgage would be paid off almost 16 months early. This is the simplest way for most homeowners to engage in risk-free, high-return saving.
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The Week Ahead Associated British Foods, Supergroup, Wetherspoon ...
There is a food theme to the corporate diary at the start of next week, while retailers will also be in fashion. On Friday, the week ends, as all working weeks should, with a visit to the pub.
Associated British Foods reports on Monday, and although its Primark stores will garner their usual quota of interest, the Sugar division is likely to be the outstanding performer.
Interims from Hilton Food Group on Tuesday will probably reflect the "challenging market conditions and constrained consumer demand" the meat-packing company spoke of in its trading statement back in July.
Performance in the Nordic markets is likely to be a bright feature for Hilton.
On the same day, Supergroup, the "too much, too soon" stock market story of recent years, takes another step in its attempt to repair relationships with the City.
Chief Executive and co-founder of SuperGroup Theo Karpathios abruptly quit his position in the middle of August to 'take on new challenges,' having presumably got fed up dealing with the surfeit of "old challenges" at the trendy clothing firm, which has had more than its share of teething troubles since floating on the stock exchange.
To make matters harder for the firm, the trading statement covers the first quarter (Q1) of its financial year, which last year was a bumper period for the fast-growing firm, in which like-for-like (LFL) retail sales growth of 14.4% year-on-year was achieved.
"We forecast retail sales growth of around 15% and wholesale sales growth of around 5% for Q1 2012/13, which implies group quarterly revenue growth of c.11%," Panmure Gordon said, adding that it thinks the market is slowly regaining trust in the company's management.
The broker reckons the shares are worth holding, if you already have them. "We await further evidence that our gut feel (of stronger management in the form of a new FD [finance director] and, especially, a new COO [chief operating officer) is correct before moving to a more positive stance," Panmure Gordon's Jean Roche said.
Later in the week, the somewhat more established fashion retailer Next reports on Thursday. Elsewhere in the retail sector do-it-yourself operators Kingfisher and Home Retail are set to report. while on Friday pubs group JD Wetherspoon announces full-year results, which are sure to include a rant against the government's tax policy towards boozers and, perhaps more interestingly, an update on how badly the mediocre summer weather and the competing attraction of the Olympics has affected trade.
On the economic front, the big event of the week in the UK is the release of the August unemployment figures on Wednesday.
Monday September 10
INTERIMS
Brady, PowerFilm Inc. (Reg S), Telit Communications
INTERIM DIVIDEND PAYMENT DATE
LSL Property Services
QUARTERLY PAYMENT DATE
Canaccord Financial Inc., IBM Corp., Lilly (Eli) & Co
QUARTERLY EX-DIVIDEND DATE
Canadian General Investments Ltd.
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Credit (US) (20:00)
Factory Orders (GER) (11:00)
Harmonised Competitiveness Indicators (EU) (09:00)
FINALS
Murgitroyd Group
AGMS
Unitech Corporate Parks
TRADING ANNOUNCEMENTS
Associated British Foods
FINAL DIVIDEND PAYMENT DATE
Greene King
FINAL EX-DIVIDEND DATE
News Corp. 'A' Shares
Tuesday September 11
INTERIMS
Hilton Food Group
INTERIM DIVIDEND PAYMENT DATE
Fresnillo
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Balance of Trade (US) (13:30)
GMS
Colefax Group
FINALS
Ashmore Group, Interior Services Group
IMSS
Betfair Group, IG Group Holdings, Supergroup
AGMS
Avarae Global Coins, Betfair Group, Cohort, JPMorgan Brazil Inv Trust , Oxford Instruments, ReNeuron Group, Rockhopper Exploration
UK ECONOMIC ANNOUNCEMENTS
Balance of Trade (09:30)
Wednesday September 12
INTERIMS
Alkane Energy, Alliance Pharma, Gulf Keystone Petroleum Ltd. (DI), InterQuest Group, Kingfisher, Modern Water, Netplay TV, OJSC Cherkizovo Group GDR (Reg S), Tikit Group
INTERIM DIVIDEND PAYMENT DATE
Informa
INTERIM EX-DIVIDEND DATE
32Red, 888 Holdings, Abbey Protection, Admiral Group, Antofagasta, Avesco Group, Belvoir Lettings, Berendsen, Bwin.party Digital Entertainment, Capita, Chesnara, Clarke (T.), Clarkson, Concurrent Technologies, Cookson Group, Densitron Technologies, Fyffes, H&T Group, International Public Partnerships Ltd., Ladbrokes, Lavendon Group, Lupus Capital, Macfarlane Group, New Europe Property Investments, Pennant International Group, Rathbone Brothers, Rentokil Initial, Restaurant Group, Savills, Stadium Group, Tamar European Industrial Fund Ltd., Temple Bar Inv Trust, Tex Holdings, Treatt, UTV Media, Zotefoams
QUARTERLY PAYMENT DATE
M Winkworth, Unilever
QUARTERLY EX-DIVIDEND DATE
Alpha Pyrenees Trust Ltd., Land Securities Group
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Consumer Price Index (GER) (07:00)
Crude Oil Inventories (US) (15:30)
Import and Export Price Indexes (US) (13:30)
Industrial Production (EU) (10:00)
MBA Mortgage Applications (US) (12:00)
Wholesales Inventories (US) (15:00)
FINALS
Barratt Developments, Thorntons
SPECIAL EX-DIVIDEND PAYMENT DATE
Admiral Group, Hargreaves Lansdown
AGMS
Enteq Upstream, ITM Power, Liontrust Asset Management, Petro Matad Ltd., Stewart & Wight
UK ECONOMIC ANNOUNCEMENTS
Claimant Count Rate (09:30)
Unemployment Rate (09:30)
FINAL DIVIDEND PAYMENT DATE
Creston
FINAL EX-DIVIDEND DATE
Avarae Global Coins, Cash Converters International Ltd, Catalyst Media Group, Colefax Group, Dart Group, Darty, Goodwin Plc, Hargreaves Lansdown, Impala Platinum Holdings Ltd., Medusa Mining Ltd. (DI), Stewart & Wight, Sweett Group, Vianet Group
Thursday September 13
INTERIMS
Elektron Technology, Next
INTERIM DIVIDEND PAYMENT DATE
Anglo American, Glencore International, Impellam Group, Law Debenture Corp., Rio Tinto, Spirent Communications, Xstrata
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Bloomberg Consumer Confidence (US) (14:45)
Continuing Claims (US) (13:30)
ECB Report (EU) (09:00)
FOMC Interest Rate (US) (17:15)
Initial Jobless Claims (US) (13:30)
Producer Price Index (US) (13:30)
Treasury Budget Statement (US) (19:00)
Q2
Premier Farnell
FINALS
Brooks Macdonald Group, Centaur Media, Dunelm Group, Kier Group, Sinclair Is Pharma
AGMS
Accsys Technologies, Anite, Artemis Alpha Trust, Darty, Photo-Me International, The Real Good Food Company
TRADING ANNOUNCEMENTS
Home Retail Group
Friday September 14
INTERIMS
M. P. Evans Group, Verona Pharma
INTERIM DIVIDEND PAYMENT DATE
4Imprint Group, Delcam, Japan Residential Investment Co Ltd., Moneysupermarket.com Group, Pearson, RM, Witan Inv Trust
QUARTERLY PAYMENT DATE
Anglogold Ashanti Ltd., Carnival, Energy XXI (Bermuda) (Di)
INTERNATIONAL ECONOMIC ANNOUNCEMENTS
Business Inventories (US) (13:30)
Capacity Utilisation (US) (16:15)
Consumer Price Index (EU) (10:00)
Consumer Price Index (US) (13:30)
Harmonised Index of Consumer Prices (EU) (10:00)
Industrial Production (US) (16:15)
Manufacturing Inventories (US) (15:00)
Retail Sales (US) (13:45)
Retail Sales Inventories (US) (15:15)
U. of Michigan Confidence (Prelim) (US) (15:00)
Wholesale Price Index (GER) (07:00)
FINALS
Wetherspoon (J.D.)
ANNUAL REPORT
Mwana Africa
AGMS
Avengardco Investments Public Ltd GDR, Eastern European Property Fund Ltd., First Property Group, Imaginatik, Imagination Technologies Group, Immunodiagnostic Systems Holdings, Jupiter Green Inv Trust, Mwana Africa, Plant Impact
TRADING ANNOUNCEMENTS
Wetherspoon (J.D.)
FINAL DIVIDEND PAYMENT DATE
JPMorgan Brazil Inv Trust , Latchways, New Century AIM VCT
Link to article.
BOOK OF THE WEEK By Nicolas Sarkis
A book review by James Faulkner of watshot.com "While less sophisticated players may well prefer to kneel and pray that the poor returns on stocks since 2000 will soon somehow be miraculously transformed into a new bull market, serious investors should instead delve into the history books." These are the words of warning Nicolas Sarkis conveys to his readers as he heralds a "lost era" for equities in the opening chapter of his refreshing appraisal of the investment landscape, Fear and Greed. Sarkis, the founder of investment firm AlphaOne Partners and notable for being the youngest ever Goldman Sachs Associate, sets out to equip readers with the insight necessary to avoid the pitfalls of investing in a "lost era"; indeed, he is well placed to do so, having preserved and increased his clients' wealth throughout the turbulent years of the financial crisis.
The book can broadly be divided into two parts; the first six chapters deal with specific investments and market themes - equities, deleveraging, gold, emerging markets, government defaults, and the euro - while the last four address some of the broad sweeping issues that will colour the investment environment for years to come - fearfulness among investors, regulation, fraudsters, and central bankers (perhaps he should have put the last two in the same chapter?). Sarkis is particularly bullish on gold due to the fact that it has a low correlation to equities, making it "a great asset for balancing out risks on equity investments and vice versa". However, for those looking to diversify into emerging markets he cautions that a renewed downturn would probably see them among the worst performing asset classes, particularly in Asia, where China shows many symptoms of a bubble.
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ALTERNATIVE BET OF THE WEEK Your local betting shop may be great for the footie, but you must go online for the truly weird bets.
This week: To Be Knighted: New Year 2013 Honours List
| Bradley Wiggins | 2/5 | | Danny Boyle | Evens |
Regards,
ShareCrazy
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