First Enron of 2020: Muddy Waters’ Short-Target NMC Health Just “Discovered” $2.7 Billion Undisclosed Debt by Nick Corbishley • Mar 12, 2020 • 48 Comments Oops, the rot runs even deeper than Muddy Waters could have imagined.
European Bank Stocks Collapse to March 2009 & 1988 Levels by Nick Corbishley • Mar 10, 2020 • 64 Comments Just how much lower can they go? To Zero. And the ECB’s negative interest rates are driving them closer to it.
Muddy Waters’ Short-Target NMC Health, a FTSE 100 Company, Admits Doctoring Accounts on Massive Scale. Shares Suspended by Nick Corbishley • Feb 29, 2020 • 72 Comments “Even more damning than our initial report”: Carson Block of Muddy Waters.
Why Has UK Auto Manufacturing Collapsed 24% in Three Years? by Nick Corbishley • Feb 3, 2020 • 58 Comments 81% of the vehicles are exported; they can be built anywhere. Honda is leaving. Nissan may be too. Vauxhall may be shuttered. Jaguar Land Rover offshored some production. But EV production soared.
Brexit Moment: Nigel Farage’s Dramatic Final Speech at the European Parliament (Video) by Wolf Richter • Feb 1, 2020 • 169 Comments The UK is out of the European Union, and “the rest frankly is detail.”
What to Do with Malls? Teetering UK Mall Giant Intu Asks Investors for £1 Billion. Shares Drop to Near-Nothing by Nick Corbishley • Jan 21, 2020 • 66 Comments Brick & Mortar melts down on mall owners. So “repurpose” malls into housing?
Brick-and-Mortar Melts Down in the UK, Worst Decline Since 2009, as Big Retailers Collapsed, 14,500 Stores Closed by Wolf Richter • Jan 18, 2020 • 184 Comments But even red-hot online sales cooled off late in the year as consumers turned sour.
Another UK Mutual Fund Leaves Investors Twisting in the Wind by Nick Corbishley • Dec 4, 2019 • 30 Comments Another “run on the fund.” More investors can’t get their money out but contemplate big losses.
Screwed Investors Still Stuck in Woodford’s Imploded Mutual Fund Get a Glimpse of Their Losses by Nick Corbishley • Nov 14, 2019 • 54 Comments After a “run on the fund,” triggered when people figured out it was loaded up with crappy illiquid assets.
Redemptions Rip Through UK Equity Funds as Fallout from Woodford Collapse Grows by Nick Corbishley • Oct 28, 2019 • 23 Comments In funds with a liquidity mismatch, the First-Mover Advantage is huge, as Woodford’s investors found out.
