LANGDON SEAGULL
Well-known member
I work in the City as a corporate analyst.
Around 15 years ago, my job involved making recommendations on investing in junk bonds. This would involve meeting the company, writing an analysis and doing financial projections. I would then sit down in a meeting with the fund managers and we would discuss whether to invest or not.
I was less than inspired to have a meeting put in my diary with Focus DIY. They had just bought Wickes and were looking to raise some money. At this time Archer only had a minority stake having sold a chunk of the business to private equity.
I couldn’t stomach the thought of investing in the scumbag’s business but my prejudice clearly wasn’t shared by my colleagues. So I simply made up a load of numbers in my projections which made the company look absolutely shit. Result - no investment and fund managers going round telling everyone that Focus was actually in financial trouble which is why it needed the money.
It did actually go bust a few years later but that was because its owners (including Archer) bled it of cash. It could’ve survived.
Am I forgiven?
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Yes, you are forgiven 100 times over
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