Very painful outcome. This never happens to investors that buy index trackers. Citywire writers like David Stevenson were constantly pushing DGI9 as a defensive utility-like fund with growth aspects to it. I've been in DGI9 since it was about 102p a share.
I remember when 3iN considered a bid for the company when it was 82p and I misinterpreted that as the assets being popular, even though 3IN pulled out. But they must have pulled out because their due diligence raised red flags many years ago
Yep, good all David, the same guy that yesterday in his investment ideas posts talks about how bad DGI9 has been (without mentioning who created this disaster), and at the same time does advertising for some sort of a new bond scheme from Triple Point. All in the same post.
sorry teamwork if was not clear. I was just agreeing to your post mentioning how David Stevenson was constantly pushing DGi9 as a good idea. Yesterday he wrote an article where he was talking about how at the end DGi9 was a disaster. But at the same time he was "promoting" another "product" from Triple point in the same article
DGI9 managed by an extremely incompetent Triple Point outfit. That escaped the boat like rats when they realised what they had done. They had lost enormous amounts of money for investors, yet they collected fat fees. Absolutely atrocious management. And these is the same company that had to be sacked from SOHO for incompetence as well.
They still have the cheek to offer a VCT.
For the valuations accounts and what they did in DGI9 the FCA should investigate them… but alas they were more worried about not letting us be “scammed by BTC” than by making sure all these London based investment pirate companies do a decent job, instead of a con job
Bad deals on the London markets don't get worse than this week's horror at Zanaga Iron Ore (ZIOC). A $10B NPV asset handed to a secretive insider-led outfit for 2% of that value. Unbelievable.
Good summary OB, we learn what we can and move on . I met a Lloyds bank trader a number of years ago, she told me that they only had to get it right 51% of the time ! I sold out this morning as soon as the market opened, I think that this could have come good, however, the RNS today implies more bad news to follow in the future. Some people have filled their boots on this investment thesis , but its not the shareholders.
The original managers, Thor Johnsen and Andre Karihaloo, threw over £1bn of pensioners and savers money on a bonfire while creaming off huge fees for themselves.
They then moved onto a new firm called "Digital Gravity Partners" with no consequences for their misconduct, and continue to accumulate their millions.
Very painful outcome. This never happens to investors that buy index trackers. Citywire writers like David Stevenson were constantly pushing DGI9 as a defensive utility-like fund with growth aspects to it. I've been in DGI9 since it was about 102p a share.
I remember when 3iN considered a bid for the company when it was 82p and I misinterpreted that as the assets being popular, even though 3IN pulled out. But they must have pulled out because their due diligence raised red flags many years ago
Yep, good all David, the same guy that yesterday in his investment ideas posts talks about how bad DGI9 has been (without mentioning who created this disaster), and at the same time does advertising for some sort of a new bond scheme from Triple Point. All in the same post.
I don't understand your post...?
sorry teamwork if was not clear. I was just agreeing to your post mentioning how David Stevenson was constantly pushing DGi9 as a good idea. Yesterday he wrote an article where he was talking about how at the end DGi9 was a disaster. But at the same time he was "promoting" another "product" from Triple point in the same article
You'll only find Triple Point demotions here.
Ah...right. Thanks.
Onwards and upwards Oak.....small beer in the scheme of things 😁
Any time you've written about DG19 the setup always sounded off with the IM. Must be some insider shenanigans going on.
Onwards and upwards - no need to dwell. Always feels better to cut the losers.
Yes there is a carthartic feeling.
DGI9 managed by an extremely incompetent Triple Point outfit. That escaped the boat like rats when they realised what they had done. They had lost enormous amounts of money for investors, yet they collected fat fees. Absolutely atrocious management. And these is the same company that had to be sacked from SOHO for incompetence as well.
They still have the cheek to offer a VCT.
For the valuations accounts and what they did in DGI9 the FCA should investigate them… but alas they were more worried about not letting us be “scammed by BTC” than by making sure all these London based investment pirate companies do a decent job, instead of a con job
Don't forget "Triple Point Energy Transition plc" which was also a disaster.
Bad deals on the London markets don't get worse than this week's horror at Zanaga Iron Ore (ZIOC). A $10B NPV asset handed to a secretive insider-led outfit for 2% of that value. Unbelievable.
https://www.investegate.co.uk/announcement/rns/zanaga-iron-ore-co-ltd-di---zioc/proposed-strategic-investment-in-zanaga-project-/9422489
Yeah I feel like an idiot averaging down on these.
Good summary OB, we learn what we can and move on . I met a Lloyds bank trader a number of years ago, she told me that they only had to get it right 51% of the time ! I sold out this morning as soon as the market opened, I think that this could have come good, however, the RNS today implies more bad news to follow in the future. Some people have filled their boots on this investment thesis , but its not the shareholders.
The original managers, Thor Johnsen and Andre Karihaloo, threw over £1bn of pensioners and savers money on a bonfire while creaming off huge fees for themselves.
They then moved onto a new firm called "Digital Gravity Partners" with no consequences for their misconduct, and continue to accumulate their millions.
I just noticed the contrast between the managers of DGI9 and CORD. CORD directors and managers are regularly buying their stock. DGI9 managers never did: https://ii.co.uk/news/in-brief-cordiant-digital-executive-buys-over-gbp500000-in-shares-al1771345204603505400