+++ MFI & Woolies Bust +++

Bankruptcy was not entirely unexpected in the case of these two ailing retailers. Despite Mandelson pleading with Woolies’ bankers into the early hours of this morning they pulled the plug regardless. Tuppence off prices won’t make much difference for them.

Keen readers will notice the change to the portfolio on the right hand side for the first time in a month. Guido has just shorted FTSE futures and Dow futures. Combination of bad local news and a sense that there is a mood of bailout fatigue in the U.S. There is usually a “Santa Claus rally” in the markets at year end. Not sure Santa is going to come this year…




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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.”

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