JJB?

notanewmember2

  6 Sep'12 - 06:08 - 2468 of 2468  

Blacks are not the only example. Clinton Cards, Woolworths, Game, Luminar, Connaught, Land of Leather, Coffee Republic, Northern Rock, Bradford and Bingley, Hardy Amies, ROK, MFI, etc.. etc..

I don't know for sure if JJB will go down the same route but my trade plans are based on how much I could lose first rather than how much I can make.

I have been watching the stock market too long! I have kept some records at http://hugestockmarket-losses.blogspot.co.uk

Also look at post number 3 http://uk.advfn.com/cmn/fbb/thread.php3?id=21869756 And ask yourself these questions.

If you want to look at a less risky stock, pick one that makes money - BOK, SEPU, CML, PAF (riskiest), TALK, IGRE, No more long shots.

I will bugger off now.

DYOR GLA

Game Group *Bust*

justthemoney - 2 Apr'12 - 17:24 - 4127 of 4127

Couldn't agree more...a daylight robbery. £80k down the cesspit called the city.
Chaps, this cannot happen in the US, it is illegal. Company directors, administrators etc..., should extract the best value for shareholders from any situation the company may find itself in. And it is all overlooked by the shareholders. Hence Blue Shore's remarks. Here in UK if they choose so, they can do it in such a way that results in total loss of shareholder value...and it is all legal...and there is nothing you as a part owner of the company can do about it. Next time you invest in UK stock market, have a good look at the Board credentials and not just the business....and in any case limit your investment to any single stock to 10%.
By pushing company into admin, the crooks have saved: £10m in wages, £30m-50m in redundancy payments, 10m in rent payments, £20m-40m for buying out leases, £40m+ in shareholder equity...and in the process got hold of a perfectly good business for £0.

Game Group *Bust*

justthemoney - 21 Mar'12 - 12:49 - 6989 of 7013

The Board statement is self contradictory, on the one hand they say that they are not in control of the business finances, and on the other hand that shares are worthless. Chaps, shareholders have been taken for a ride here. The buyers were there 2 weeks ago but they didn't want to let it through. With Wal-Mart, OpCapita or anyone else except the GameStop, the Board would lose their jobs. As it stands they'll stay behind the steering wheel of a new company valued at I guess at least £200m.

Shareholders in this country are really sheep to let it go quietly. At the end of the day they are the owners of the company and should at least scrutinise what is going on. In the US this sort of behaviour is illegal, and although shareholders may not get anything back (if it proves that there are no assets), the Board (those responsible) would be behind the bars.

Sorry for all long term holders who were trapped with 80-99% loss bracket.
And even more sorry for the hard working staff who are destined to lose their jobs.

Ta ta from me, off to nurse my losses.

Worldspreads *Bust*

Sun 22:03
Re: To be wound up

doctorh


I think the phrase rhymes with 'clucking bell'.....

Would you all excuse me for a moment whilst I let out a short, sharp,

AAAAAAARRRRRRRGGGGGHHHHHHH!!!!!!

After all, it's not every day I drop a six figure sum... hang on..

AAAAAAARRRRRRRGGGGGHHHHHHH!!!!!!

Thanks, that's better!

Now before anyone lectures me on the folly of trading GKP, can I just point out that I had simply adopted a strategy to swerve a bit of CGT by supplementing my main holding of physical stock with a spread bet position, fully backed with cash deposits to avoid getting stopped out.

That has been closed this evening at 260.35p. Quite apart from loss of potential GKP paper profit, and a position from 140p that is impossible to rebuild, I am facing a loss of most of the cash I deposited - now only looking at an eventual £50k FSA compensation which will no doubt take a lot longer than the GKP timeframe of events are likely to unfold.

I am also wondering how much Worldspreads are themselves exposed to GKP. I understand they cover their net position in the market, and I am also assuming the majority of clients are long. All my positions have been closed out today which I presume means when the market opens tomorrow there may be some big sales going through on Monday.

Just for once I am actually hoping that we DON'T wake up to a big GKP RNS tomorrow...

a very p155ed off doctorh

Worldspreads *BUST*

Nasdaq_Investor - 17 Mar'12 - 09:00 - 153 of 379

Grateful if someone who knows about these things can enlighten with a few answers although I appreciate it's hard without knowing the reality.

Got about 200k in various stocks and paid a lot of margin so liquidation value about 170k.

FT are suggesting IG, Capital Spreads and ETX as possible buyers but would the assets just transfer over without any loss to the client to any acquirer? I appreciate it depends on what they pay. All depends on what they perceive a client base of 5,000 or so is worth. Is a non-painful (for clients) takeover realistic given (based on the FT) the takeover company would have to pay about 5m to balance the books? (About £6m should be still be there in cash and if there is a black hole of 10 to 12m that leaves between 4m to 6m deficit). Or is there a scenario where the takeover company just takes the accounts in a pre-pack - what would s/bet account holders get then?

If no takeover do they just liquidate all assets and clients - retail and prof get paid out as creditors pro-rata and claim the deficit (50k for Professional and I believe 85k for retail) from the FSA?

Any chance of suing the auditors if, as alleged in the FT, they audited whist alleged fraud took place?

Any difference if there is a takeover situation for retail clients and professional clients? I'm a retail client although they did try to get me to sign-up for prof client status but I advised my circumstances didn't fit.

Sorry for the simplistic questions and multiple questions but my mind is a bit middled after all this.

I think Spreadex just took-over MF Global client list but not the actual accounts i.e. a mailing list in the hope broke clients would trade with them.

WorldSpreads *Bust*

Steveglobal4 - 18 Mar'12 - 20:37 - 240 of 379

yes, and i lost 40k alone friday pm on one stock because of all this


Steveglobal4 -18 Mar'12 - 21:03 - 246 of 379

wife has said she is going to leave me if i dont get out of spread beting



Steveglobal4- 19 Mar'12 - 20:50 - 357 of 379

i got through earlier to adminstrators, well they have made me feel alot worse tonite,

I asked if our money in the segregated account was going to be used for the adminstration costs, she reply no, then i relised it was mixed with worldspread money anyways so who knows,

I then said would there be any funds left once adminstration costs were taken out, she didnt think so,

I asked if i should report the crime with my local police she said no,

she then said further info would be on the site within 2 days, how to apply for lost funds

then she said further news should be released friday, ie figures,

After the long converstation, im am a lot less hopeful of recieving the 55 percent plus 50k some have mentioned, i was made to think we will be lucky if we get the fsa 50k, but when first on the phone she said you should get all of it, i kept asking do you mean all of the 50k fsa or all of my complete cash balance again, she would then not answer the question, there is something they are not telling us, which i find not good.

I then asked has the crime been reported to the police, she paused for a long time, and i think she said no, i asked her to repeat and she wouldnt, i pushed on this and she said investigations are taking place.

I mentioned the action group on here, i said should i join, she said it wasnt a good idea. im trying to work out what this means, does it mean all the money will be returned,

to be honest, i wish i would not of phoned, as i was beginning to except what has happened, now i cannot not again as im worried what percentage we will get.

Can anyone else post there conversations uo here so we can try and piece things together.

cheers

I then questions the 50k and said isnt it supposed to be 85k as the money was a cash balance as the bets were closed and i have a screen shot of the cash balance in a segregated account, she then was unsure of the answer.

Game Group

justthemoney - 12 Mar'12 - 21:54 - 2091 of 2105

Yep £80k is a hefty loss by any measure. No, I will not give my money to fund managers as I beat them year after year. This is my first single stock wipe-out and I hope the last. In any case lessons learned, up to 10% of investable cash into any single stock. Shares I tend to buy when undervalued and reinvest dividends until they become overvalued. I don't trade them and seldom take losses. This one to be honest I didn't see coming. The company made a small loss, and the first loss in years as well as a new hardware cycle just around the corner did not warrant for getting out at a loss. Also I tend to follow institutions and they were buying. Only when EA announced fallout with GMG did I smell the rat, but by that time my loss was already rather large. In any case I'm confident that my other shares will do well and get their usual 25% per annum which would annul GMG loss within 2 years. I use stock market as a low effort investment vehicle (buy and hold and reinvest dividends) as anything else would result in lower returns. What I do actively trade is the FOREX market. Several times a day, and have been doing rather well (2%-5% per month with very low leverage 2% and almost no drawdowns). The idea being that you must loose your opinion and follow price action alone. Anyone trading stocks especially buying this pile of crap and hoping for a bounce is a pure gambler. Go and trade FOREX where 3rd party risks are very small, and price action is much more predictable. 4 trillion USD a day market, almost unlimited liquidity on major pairs. And if you want your heart race, you can leverage 1:100 easily. Very sorry to see shareholders wiped-out, as most of us bought into the genuine recovery story. Good luck chaps and I hope this episode didn't kill anyone (financially).

Lloyds, Royal Bank Of Scotland

Dope007 - 12 Mar'12 - 16:07 - 2026 of 2028

justthemoney. I lost more on LLOY and RBS. Their level of crookedness goes beyond anything seen here.

Game Group

justthemoney - 12 Mar'12 - 15:52 - 2023 of 2024

Very sorry for all shareholders (including me) who genuinely believed in the good prospects of the company and invested accordingly. We've been taken for a ride by a criminal gang who are protected by the law. I've lost £80k, a 30% of my entire portfolio. Mistakes learned and will never invest more than 10% into a single stock. What happened here is a robbery at a stroke of the pen. So much from me, awaiting shares suspension so I can claim capital losses.

Univision

buggy - 19 Jul'11 - 08:03 - 889 of 897

...Though I really do need some straws to clutch at here, as I have over £75K invested and near enough 90% loss....My fault I know. At one time I thought this was my oportunity to get exposure to far eastern market).


Anyway as said, it is not worth my while selling now so will see it to the end ...but I am not blinkered enough to lose objectivity. I ceased believing in Santa a while back.

29. Coffee Republic *Delisted*

JAF1948 - 27 Oct'09 - 16:43 - 5779 of 5786


ws,

You'll never change ! Why let a silly thing like the fact that Barty lost all his investment in CR stop your idiotic postings (about £1.5 million I reckon).

I lost £80,000 but I've moved on. Perhaps you should too.

28. Coffee Republic *Delisted*

winning_streak - 14 Jul'09 - 12:28 - 5497 of 5498


And, Cricketer, IGNORE JAF - he will make out he's your friend then him, and all his little cronies will start insulting you and calling you a loser because you should have done your own research before parting with your well earned dosh!!!! They ripped £320k off crdirect. Took a franchise from one franchisee while he was in a coma in hospital - took one guys two franchises from him after he had organised a buyer for the one and sold them to the purchaser organised by the franchisee!! Took 4 franchisees from another chap, They repossess stores without giving notice and give you non of the support and training the promise you before they take their money - you have had a lucky escape in just losing a deposit, believe me.

Carwhite - 14 Jul'09 - 12:36 - 5498 of 5498


fully concur winning_streak

27. Coffee Republic *Delisted*

paulmhammond - 13 Jul'09 - 17:02 - 5474 of 5478


I removed it quickly, as I know you are popular here. I've just lost a small fortune, so really, don't push it, I might just react badly to it.

26. Coffee Republic *Delisted*

JAF1948 - 11 Jul'09 - 16:04 - 5441 of 5449


I'm back from a nice cruise and have just spend an hour or so reading this board.

WS, I have to say that I have never read so much bile, spite, and ignorant 2+2=5 writings by one person (yourself) in any place in my life. You have no idea what is going on, you have no idea what has happened this week and you have no idea what will happen in the future. You should count your blessings that Coffee Republic and/or Stephen Bartlett do not have sufficient money to sue you for libel and defamation. Despite the company failing, there is still no evidence of any wrongdoing by anyone.

I have lost a great deal of money, but it was my decision to invest and I stand by that decision.

25. Coffee Republic *Delisted*

winning_streak - 9 Jul'09 - 14:03 - 5342 of 5422


Well Paul, I'd own up to everything because you ain't going to walk away from this with any money anyway and well you know - so TELL THE TRUTH and make sure these crooks get what's coming to them - remember - Dan LOST £320k to them so, watch yourself.


---

winning_streak - 10 Jul'09 - 14:50 - 5413 of 5422


Lordkendal - it is a lot to lose, £160k. I am glad you have other assets to fall back on too. Do you know how much each franchisee that has had their store taken loses? Quite a lot more than £160k!! Also, did you know that a lot of these franchisees re-mortgaged their houses to make that investment - these people were not as smart as you - they were sold dreams by the dream makers at cr. Mis-sold imo with false verbal promises of turning over £500k a year after a couple of years - what they weren't told it they would get to keep their shop for 6 - 12 months, knowing that they were going to fail and then, cr would take back the shop and sell it on again to another unsuspecting, gullible person and the cycle would start again.

24. Coffee Republic *Delisted*

lordkendal - 10 Jul'09 - 11:50 - 5376 of 5422


I'm inclined to believe Daimonbok's prognosis but I’d like to also believe in WelshG as where there's life there's hope?? However I have mentally written off my £160k. It would be a very big surprise to discover all maybe not lost after all?? Where to get the truth??



---

lordkendal - 10 Jul'09 - 16:39 - 5417 of 5422


Daimonbok

Happy to have made someone happy today :-))

WS

When I was in business I also mortgaged and borrowed vast amounts when necessary. I never bought a franchise, as I was clever and creative enough to create my own business either from absolutely nothing in an empty building or taking over loss making businesses, all of which I owned 100%. I personally took all the risks and I personally took all the profits.

I did have a philosophy of not believing anything I was told and only 50% of what I saw. This stood me in good stead over the years. Everything in writing and I mean everything, nothing verbally, if said put it in writing.

Expect that everyone will want to have what you have and take preventative measures. In 40 years of running my own companies nobody took anything from me apart from the staff who thought it was their perks to pilfer, until I caught them!!

I am truly sorry for any franchisee who has been ill treated by anyone. I have seen, over the last 40 years a great many people who have failed mostly because of their own inadequacies but I do have sympathy for those who have failed because of the actions of others.

I can well live with the loss of £160k it just means I will buy an apartment overlooking the Med rather than a Villa however I do know some shareholders who have been badly affected and may not ever recover from their loss.

So it would appear that we are all losers, from both sides of the fence. I know that there is a really strong sense of abuse of trust and betrayal by SB from the shareholders, which I guess, is pretty much the same from all.



lordkendal - 10 Jul'09 - 23:05 - 5430 of 5431


Thanks Guy's looks as if i'm in for a bit of travelling.

Dan. You forget i can now only afford a small appartment :-)

WS

Believe me I feel £160k's worth of pain. I have left no pain myself on others only the pain I suffer for my greed in thinking that CR was a sure thing. Goes to show that even an experienced caterer like myself can come unstuck but then again I wasn’t running it, if I had I can guarantee you the outcome would have been different.

23. Coffee Republic *Delisted*

winning_streak - 9 Jul'09 - 20:04 - 5358 of 5358
But, don't let barstlett win ffs - KPMG do not find it even a misdemeanour that he stripped out his shop in Plymouth on Friday last. They know nothing about the churning and have set a deadline of Monday for closed bids. 83 requests for company details have been received - 2 of which are from contacts of mine - the details have NOT been received. This is all a heap of s**t and needs some pressure put on KPMG at the very least - as shareholders - put pressure on them - or lie there and just take it!!!! Paul £100k is it? Dan's 7 mates £100k each - That's £800k going down the toilet - barstlett needs to start paying the price of his shoddy scam.

Volkswagen *Bought by Porsche*

Adolf Merckle (18 March 1934 – 5 January 2009) was a businessman, stock trader, and one of the richest people in Germany.^[1]
Merckle was born in Dresden, Germany into a wealthy family. Most of his wealth came from inheritance. He developed his Bohemian (i.e. Czech) grandfather's chemical wholesale company into Germany's largest pharmaceutical wholesaler, Phoenix Pharmahandel. His family also owns the generic drug manufacturer Ratiopharm, and large parts of cement company HeidelbergCement as well as vehicle manufacturer Kässbohrer.
He was educated as a lawyer but spent most of his time investing. He lived in Germany with his wife and four children.
Merckle made a speculative investment based on his belief that Volkswagen shares would fall; however, in October 2008, Porsche SE's support of Volkswagen sent shares on the Xetra dax from €210.85 to over €1000 in less than two days (a short squeeze), resulting in losses estimated in the hundreds of millions of dollars for Merckle.^[2]
In 2007, he was worth US$12.8 billion by most estimates (Forbes), and by December 2008 he was worth $9.2 billion, a loss of $3.6 billion. In 2006, he was the world's 44th richest man, dropping to 96th place by December 2008, but still one of Germany's five richest men.

Suicide

Adolf Merckle committed suicide on 5 January 2009 by throwing himself in front of a train near his hometown of Blaubeuren.^[3][4] More than any other single investment, Merckle’s poorly timed short-selling of Volkswagen shares caused the financial distress that led to his death. Believing that Porsche could not complete its takeover of Volkswagen and would have to sell its shares, Merckle and others bet against Volkswagen stock. But Porsche had quietly and effectively cornered Volkswagen stock, so short-sellers such as Merckle could not buy enough Volkswagen stock to cover their short positions. Volkswagen stock therefore quintupled in value in a single day, causing billions in losses for those who had bet against Volkswagen's share price. Faced with such losses, Merckle's cement company was unable to make payments on a huge loan taken out to purchase an English competitor, Hanson.^[5]

http://en.wikipedia.org/wiki/Adolf_Merckle

22. Bradford and Bingley *Nationalised and sold to Satander*

Daytraders - 20 Dec'08 - 20:02 - 4590 of 4590
jimtidyeh strange aint it, like i had 7K BB shares now worthless overnight, and then they go bail out all the other banks days later, so why not BB bank i was gutted, i feel for all you woolworths holders.


From WLW thread

21. Brinkley Mining

gluefactory - 2 Jul'08 - 22:32 - 1852 of 2067

Well over £20k down on this investment at todays levels,but still confident that manipulation on a major scale is happening.When the share bombed by over 40% today under 700k(totalling under £20k) in shares had been traded and they were a mix of buys and sells.What reason would I distress sell? None.I am in for the long haul on this one as I am confident that we will win out.Why bring the price down? If in the next few days an "offer" of 4p or so is made,it appears that this is a premium of 100%,which we all know is not reality. Look over at FEP.An offer of 48p has been made on a share which suffered more devaluation than we are currently enduring,and in my view that one has also been manipulated.On the plus side of BRM is the reality that we have £11 million in the bank at the last accounts stage(and hey,that was only two weeks ago) plus a number of options which in time may bear reward.God I hate shares.Give me horses any day!!!!

20. Altona Resources

patent2 - 2 Dec'08 - 16:59 - 1631 of 1636
ive lost thousands here but cannot see any other outcome but administration with the chinese taking full control.

19. Woolworths *BUST* and Taylor Wimpey

warranty - 26 Nov'08 - 19:35 - 1801 of 1805
Deanroberthunt, thanks for comparing Woolies and TW with PFD. I have shares in both those as well unfortunately and not bought recently after the shares have been trashed either. They're in my ISA and I'm currently down about £60k on the pair of them!!!Think I'll ever see it back??

18. Woolworths *BUST*

dutch22 - 26 Nov'08 - 09:22 - 2171 of 2560
can someone here please offer me some advice, i bought wlw shares on T20(due for payment next week), as the shares are now suspended, do i have the right to contact TDW, to cancel the payment for these shares next week,approx £10K. Thanks.



6NAT - 26 Nov'08 - 18:19 - 2465 of 2571
57K isn't so bad dutch I bet others are far worse than that

17. Angus And Ross

Moister - 24 Sep'08 - 08:01 - 5097 of 5224
Well i got £30,000 worth at 4p not a happy bunny! Looks like 1p it will be. Lets hope the funding stays in place then we should see a healthy rise.

16. Woolworths

pjdeery - 21 Nov'08 - 14:22 - 960 of 1095
To add some more joy to the posters that are having such fun seeing the WLW share price crash. I hold 1.2 million all paid for. Should they go bust i lose £172,000 real cash.

Like i said i am a gambler.That is a real gamble and if any off the laughing crew on here want to gloat feel free.