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View the article online at http://citywire.co.uk/wealth-manager/article/a748414

Dobell: why I stand by Quindell despite ‘unpleasant bear raid’

by Robert St George on Apr 29, 2014 at 11:25

‘We have a thick skin here but we are working with them and I intend to try to help make this company a great success.’

The M&G Recovery fund has returned 16.1% over the past three years, compared with an average of 36.3% from its IMA UK All Companies sector.

It has rebounded more recently, however, returning 0.7% over the past three months against a sector average of 0.2% and a drop of 0.6% from the FTSE All Share index.

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2 comments so far. Why not have your say?

Philip Milton

Apr 29, 2014 at 13:20

Regardless of Quindell's prospects or current/past success, the type of behaviour meted-out by Gotham City is unacceptable. If the negativity is all proven, it might be a different kettle of fish but if it is not, the damage to this company is wholly unacceptable and no libel claim by the company can repair the damage - should shareholders too join in the action? It can also damage the underlying business prospects of the company. One almost hopes that other institutional shareholders make a concerted action to buy more stock (regardless of the facts/rumours/accusations) to really burn the short sellers so that they'll feel it where it hurts most - in the pocket.

The regulators on both sides of the Atlantic should act here - there is a difference between a professional, well-founded opinion on a stock and something like this designed to profit short positions taken in advance of the announcement - a form of reverse insider trading almost. Would a big group like Goldman Sachs ever issue such a document, for example?

One wonders next if some other tipster company will announce that it is quite alright to buy life settlement funds and then arrange for a few early demises to boost the returns!

report this

Peter Barrett

May 02, 2014 at 16:09

If the rumours are unfounded there should be a class action against Gotham City

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