Chairman Maude Gives Up

Francis Maude’s other chairmanship was of something called the Jubilee Investment Trust (JIT). JIT made headlines for him after a multi-million pound investment in a Californian “adult entertainment” business allowed the Mirror to have a lot of fun front-paging him as a porn baron. In mysterious circumstances the porn investment failed, rumours that Italian gentlemen had got the better end of the deal (the movie rights, the physical DVD stock) and the trust ended up with a shell of a company have never been cleared up. As the chart shows, shareholders in JIT lost 73% of their money in a period when the market itself rose 154%. Not an easy achievement in that kind of market environment. Spectacularly bad investment judgement that beggars belief as well as investors.

The moral of this story: never invest in a business run by a politician or do business deals with Italian – American porn merchants.

The JIT is now to be wound up with whatever cash is left over in the fund being returned to shareholders.

Bob Maxwell, Geoffrey Robinson, Francis Maude – caveat emptor…

Hat-tip : ConservativeHome.com




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Rowan Atkinson tells The Times

“All jokes about religion cause offence, so it’s pointless apologising for them. You should really only apologise for a bad joke. On that basis, no apology is required.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Fry, Hislop, Merton &Guardian All Mocked Burka Fry, Hislop, Merton &Guardian All Mocked Burka
Corbyn’s Home Pranked By Jewish Activists Corbyn’s Home Pranked By Jewish Activists
Rowan Atkinson on Boris Rowan Atkinson on Boris