Post new topic Reply to topic  [ 38 posts ]  Go to page 1, 2, 3  Next
Author Message
 Post subject: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 9:18 am 
Offline
Nationalised

Joined: Mar 4, 2007
Posts: 8008
Quote:
Anglo Irish clients plan €500m revenge fund

By Shane Ross


Sunday April 27 2008

A GROUP of clients of Anglo Irish Banks, including big builders and entrepreneurs, plan to set up a large investment fund to buy shares in the troubled bank.

A meeting took place in a Dublin hotel recently in which it was decided to buy shares worth up to €500m. Gerry Gannon of Gannon Homes and Sean Quinn are thought to have been targeted to join the consortium. Quinn is already a large shareholder.

Sources close to the group suggest that each member will be asked to put in several million euro. When the fund reaches €500m, it will be leveraged up with borrowings to buy further Anglo shares.

...


Leveraged up with borrowings eh? I wonder where they'll get the cash.


Top
 Profile  
 
 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 9:22 am 
Offline
Nationalised

Joined: Oct 29, 2007
Posts: 8230
Location: Multiverse
Leveraged up with borrowings eh? I wonder where they'll get the cash.[/quote]


Why Anglo of course :P


Last edited by mr_anderson on Mon Feb 23, 2009 6:35 pm, edited 2 times in total.

Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 10:45 am 
Offline
Nationalised
User avatar

Joined: Nov 8, 2006
Posts: 8873
Location: Location, Location.
Let's say they do succeed at what they intend, this will give the short sellers a second bite of the cherry and relieve them of even more money.

_________________


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 11:51 am 
Offline
Nationalised

Joined: Oct 29, 2007
Posts: 8230
Location: Multiverse
Green Bear wrote:
Let's say they do succeed at what they intend, this will give the short sellers a second bite of the cherry and relieve them of even more money.


Completely agree GB.
I suggest they call Joe Lewis for advice.


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 12:44 pm 
Offline
Real Estate Developer

Joined: Jan 24, 2007
Posts: 788
Now that's doubling down.


Top
 Profile  
 
 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 12:57 pm 
Offline
Under CAB Investigation
User avatar

Joined: Jan 31, 2007
Posts: 2924
Quote:
Anglo Irish clients plan €500m revenge fund

By Shane Ross


Sunday April 27 2008

A GROUP of clients of Anglo Irish Banks, including big builders and entrepreneurs, plan to set up a large investment fund to buy shares in the troubled bank.

A meeting took place in a Dublin hotel recently in which it was decided to buy shares worth up to €500m. Gerry Gannon of Gannon Homes and Sean Quinn are thought to have been targeted to join the consortium. Quinn is already a large shareholder.

Sources close to the group suggest that each member will be asked to put in several million euro. When the fund reaches €500m, it will be leveraged up with borrowings to buy further Anglo shares.

...


My opinion is that the buy-up clan have their backs to the wall and simply cannot afford to let Anglo drop.

The big question is -- who's going to loan them the leverage?

I hope the old boys' club know what they're doing.

Another thing -- surely you'd want to keep a plan like this a secret?

Why let this information advantage out in to the public?

Something's fishy...


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 1:07 pm 
Offline
Under CAB Investigation
User avatar

Joined: Jan 31, 2007
Posts: 2924
Green Bear wrote:
Let's say they do succeed at what they intend, this will give the short sellers a second bite of the cherry and relieve them of even more money.


Maybe that's what the smoke and mirrors "hotel meeting" cum press-release is all about.

CelloPoint's conspiracy theory: Friday's Anglo closing price was jacked up for the weekend newspaper coverage where an information bomb was dropped -- the intention is to fool the short-term market manipulators. Anglo has been a bit of a honey pot the last couple of weeks -- if the manipulators think things are "all settled down now", they'll quit and move on to the next target.

If they'd just go away! They're like flies hovering all around is. Once they're gone, we can go about converting our horse manure back in to precious jewels.


Top
 Profile  
 
 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 5:03 pm 
Offline
Single Home Owner

Joined: Apr 17, 2007
Posts: 124
CelloPoint wrote:
Quote:


I hope the old boys' club know what they're doing.

...


They were on the money with ISTC:wink:


Top
 Profile  
 
 Post subject: Re: Anglo Irish clients plan €500m revenge fund - Sindo
PostPosted: Sun Apr 27, 2008 8:29 pm 
Offline
Under CAB Investigation
User avatar

Joined: Jan 31, 2007
Posts: 2924
Carnage wrote:
CelloPoint wrote:
Quote:


I hope the old boys' club know what they're doing.

...


They were on the money with ISTC:wink:


Whatever happens, it's gonna be dramatic. Should be an interesting week.


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 8:29 pm 
Offline
Neo Landlord

Joined: Nov 9, 2006
Posts: 267
Shorting is a game built on rumour and fear e.g. start a rumour saying that anglo is running out of cash and shareholders and depositers will take fright giving the shorter a healthy profit. Combating shorters is done in exactly the same way e.g. start a rumour that X of Irish richest business are going to going to pool Z million and borrow Y million and invest it all in anglo stocks and this a. encourages other investors to get in ahead of them to profit from the inevitable run up b. scares shorters that their buy back will get more expensive and encourages them to close out their short positions c. discourages any further shorting because of the prospect of a run up in the price.

The whole article is laughable.


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 8:38 pm 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3876
As Thatcher's economic guru Alan Waters used to say, you can't buck the market.


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 8:39 pm 
Offline
Nationalised

Joined: Sep 13, 2007
Posts: 28434
Location: Tullamore
Panzraam, does the fact that Shane Ross wrote the article not lend it a certain credibility? Considering his article a fortnight ago:
http://www.independent.ie/opinion/colum ... 46192.html
Or do you think he has been taken for a ride and that that is the revenge the 'friends of Anglo' are after? (Sounds like an Agatha Christie novel, if only I could remember which one!).


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 8:42 pm 
Offline
Too Big to Fail

Joined: Sep 25, 2007
Posts: 3876
Also, isn't this a form of market manipulation?

I demand that ISFRA immediately investigate these people.


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 8:43 pm 
Offline
Under CAB Investigation
User avatar

Joined: Jan 31, 2007
Posts: 2924
So who's gonna empty their barrel into the lake tomorrow? I'd say there'll be a lot of toe dipping to see how hot things really are.

Image

Definitely one for the big boys.


Top
 Profile  
 
 Post subject:
PostPosted: Sun Apr 27, 2008 9:35 pm 
Offline
Nationalised
User avatar

Joined: Nov 8, 2006
Posts: 8873
Location: Location, Location.
the edge wrote:
Also, isn't this a form of market manipulation?

I demand that ISFRA immediately investigate these people.


Couln't find anything specific

Insider Dealing and Market Manipulation (Market Abuse)
http://www.entemp.ie/commerce/companyla ... tabuse.htm

Market Abuse (Directive 2003/6/EC) Regulations, 2005 (Market Abuse Regulations)
http://www.financialregulator.ie/frame_ ... in_nav.asp

Though it may hark back to an earlier scandal

Guinness share-trading fraud
http://en.wikipedia.org/wiki/Guinness_s ... ding_fraud

_________________


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 38 posts ]  Go to page 1, 2, 3  Next


Who is online

Users browsing this forum: No registered users and 4 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum

Jump to: