The Accident Exchange Group - An ACE Investment

Oh b*gger. :-(

Never thought you could be weaned off Hornby actually, Willie. In late August, I did tell people on CR's 100% thread about ACE. I said that I had already more than doubled my money on them, and I added with great emphasis that the shares would double again before the end of the year (mid price then was 112.5p). I think it was that post that persuaded CR to buy in (although he dithered a bit waiting for a dip). I know you look at that thread sometimes, so the signs were there for those with eyes to see.

Actually it was rather a good post, though I say so myself, so I'm taking the liberty of copying it here:

DiogenesJ - 30 Aug'04 - 15:54 - 562 of 694 edit

Speaking of two-baggers (or as CR calls them one-baggers, anyway shares that double), I've just had a quick one in Accident Exchange (ACE), bought 19 July at 51.5p, now 108p to sell.

Ignore the odd chart prior to 23/4/04 (that's when it floated on Aim by the reverse takeover of Xecutive Research, a failed business that turned into a cash shell). Didn't mention it here before because quite honestly although I knew it was cheap, I never expected it to go up so fast.

This business seems to be booming and wiping the floor with the competition. There have been two reverse profit warnings (most recently at last week's AGM), so I guess current forecasts can be increased by 15% or so. If so, I can see at least another potential 50% rise, perhaps more if the flow of deals and good news continues.

PS Take a look at the website www.accidentexchange.com. There are three new research notes there, all dated 25 August (after the AGM), including one from the house brokers Insinger de Beaufort. All forecasts are now far higher than I suggested above. This is going to double again before the end of this year. I will eat my cordless keyboard (including batteries) with my Christmas turkey if it doesn't.

Needless to say I have what is now (for me) a fairly large holding, but those who know me will know that I don't normally engage in mindless ramps. :-)

Well, the keyboard is still functioning and uneaten (although it would probably have tasted better than the cold turkey we are condemned to live on until the 12th day of Christmas).