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Should You Invest In Art?

Following the sale of a Leonardo da Vinci painting for $450 million, those readers who like to speculate might think that investing in art may be worth trying. This was a painting that sold for only £58 in 1958, perhaps because its authenticity was doubted and it had been “overpainted” in some areas. It’s now been restored but it’s far from perfect even so. It is now the most expensive painting ever sold. Back in 1987, the most expensive painting ever sold ...

Abcam AGM, Cambridge Cognition, Ultra Electronics, Wey Education and IDOX

Yesterday I attended the Annual General Meeting of Abcam (ABC) in Cambridge as I often do as I have held the stock since 2006. Share price then (adjusted for consolidation) was about 50p and it’s now about 950p so I, like most investors in the company, am happy. Alex Lawson has done a full write-up of the meeting for ShareSoc, which is available to our full members here, so I will only cover a few points herein. One shareholder expressed concern about ...

Round up on recent FRC and FCA developments

Our event at the FRC on 21 November, when the FRC will explain what they do and listen to members’ feedback, is a sellout and we are now operating a waiting list. Below is a roundup of recent FRC and FCA developments, to inform attendees and help guide questioning. FRC says corporate reporting could still be improved In its annual review of corporate reporting, the FRC said disclosures by large listed UK companies are generally good but detailed explanations and clarity could still ...

VCTs – Possible budget changes and pre-planning our response

The autumn statement/budget on 22nd November is getting closer, so we may soon learn the government's views on patient capital. At a Proven VCT meeting on 1 November the VCT manager, Stuart Veale, seemed certain that something will change for VCTs, but nobody knows what. Richard Waltham spoke to him afterwards to suggest that if the changes are adverse then the main focus for lobbying could move from the Treasury to MPs. It may only take a handful of MPs to trigger ...

National Grid, Johnston Press, Crown Place VCT, Lloyds Bank and LoopUp

I had a busy day yesterday, but let me first comment on the news today. National Grid (NG.) published their half year results this morning. They reported “Adjusted operating profit, excluding timing up 4%....” but statutory earnings per share were down by 12%. What exactly does “adjusted for timing” mean? I have no idea because the announcement does not explain it in any sensible way. For example, it says under “UK Timing”: “Revenues will be impacted by timing of recoveries including ...