Friday 30 October 2015

Top Tweets Today: 30/10/2015

Scandalous drug maker Valeant announced today that it is cutting ties with Philidor Pharmacy after dodgy practices came to surface which saw the company plunge as investors ran for safety after expectations that management may be engaging in a ploy to cover up fraudulent accounting.

The company cutting ties now doesn't repair the damage loyal shareholders have suffered in the last 2 weeks and it won't bring it back either. Considering that before the scandal broke the company was a sweetheart amongst fund managers due to the low R&D costs, this in itself was starting to spell trouble for long term profitability because without the production of new drugs the company wouldn't be able to pay off the massive amount of debt racked up in acquiring smaller players.
Final trading day of October and what a superb month it has been for most financial markets with US indices bouncing strongly approaching the end of the year. With just over 60 days left in the year I think there is a distinct possibility we may see a small but positive return for the year which hasn't always played ball at the best of times.

Here's to hoping...
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