Bear in an Evil mood

Bear trader Simon Cawkwell - the self-styled Evil Knievil who claims to have made 1m last year in the falling market - was kicked out of the Institute of Chartered Accountants on Tuesday. He admitted the sins of managing investments and giving clients unauthorised advice.

"I've had a good lunch, so you've caught me in a good mood," he tells me, before explaining that "when I pleaded guilty I lied".

He claims not to know "to this day" what the charges related to - only that he was alleged to have breached the Financial Services Act 1986. "No client involved in the affair lost any money," he insists. "If anything they gained money. The whole thing is a fabrication from beginning to end."

The ICA won't comment, but Evil claims he pleaded guilty to "get this off my back" and avoid spending up to 100,000 defending the case. Instead it's cost him 35,000 in costs and fines. "I resent the 35,000 stolen from me by the ICA," he growls. Glad I caught him in a good mood.

MMM, he losing 1,475,000 in total for the year on the stock market. Thats going to take some getting back.

Mind you I still like the man.G