"“We have lent a huge amount of money to the U.S. Of course we are concerned about the safety of our assets. To be honest, I am definitely a little worried.” "

Chinese premier Wen Jiabao 12th March 2009

""We have a financial system that is run by private shareholders, managed by private institutions, and we'd like to do our best to preserve that system."

Timothy Geithner US Secretary of the Treasury, previously President of the Federal Reserve Bank of New York.1/3/2009

Friday, March 27, 2009

Barclays - it's Double your money time Folks!

Lord Patel invested last Monday in Barclays at 82 p and sold out on Wednesday am @ 118p.

As we speak the shares are trading at 162.9 (and rising) with 107 MN shares changing hands.

That means those who got in at the right time and hung on have doubled their money in 2 weeks. This rise is attributed to the news that Barclays is set to receive bids for iShares, its exchange traded funds business, over this weekend, and will agree a deal by Monday, in a move that could further appease its shareholders, who were today reassured by the financial regulator about the UK bank's capital position.

So no question of any insider trading going on there then as the shares rose strongly ahead of the announcement today about iShares.

Having missed the extra profit on Barclays the shares Lord Patel bought in Lloyds have risen from 57p on Tuesday. They have traded as high as 78 today and setled down at about 73p (up 28%).

1 comment:

Bunny Buffet said...

It's short sellers like you that have brought this country to its knees.

I look forward to the extension of anti-terrorism legislation to cover this misdemeanour, then we can all sleep safely in our beds.

(C) Very Seriously Disorganised Criminals 2002/3/4/5/6/7/8/9 - copy anything you wish