Tom Winnifrith

“A red flag is a red flag is a red flag.”

“A company that is running out of cash will always lie.”

“The FRC is not fit for purpose.”

“If a company has to restate its accounts, it is almost certainly a fraud.”

“The way to make money from shares is to buy them when they are cheap and sell them when they are expensive.”

“Never ever average down on a fraud.”

“Jam tomorrow is the oldest trick in the book for a cash-strapped company.”

“Always do your own research.”

“Cash is king, cashflow is God.”

“Management's primary job is to look after the shareholders. In most AIM companies, it's to look after themselves.”

“The first rule of AIM is that all directors are liars.”

“There is no such thing as a free lunch, especially on the AIM market.”