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January 27, 2009



A letter from management may provide a short-term boost to share price, but give it a few days and I’m sure the market will twig it’s more a case of Barclays ‘protesting too much’.


Good luck to the IR team if Varley and co got their sums wrong on this one.


What about Best Comedy?


Speaking of a short-term boost to share price, look at Lloyds today. All it took was an house broker recommendation and they're up 30% on the day.


Lloyds shares are down 15% this morning. Barclays have dropped 10%. RBS looks dodgy too. I think this is called taking stock. At the end of the day, management letters and house broker notes only tell one side of the story.

Could everyone please adjust their crash helmets.

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