The Royal Mail floatation

The thing which has really struck me about the Royal Mail floatation this morning is the people claiming 'the city' has put a valuation of 700p on Royal Mail shares and this 'proves' the float was 80% undervalued.
What they're referring to is an investors note put out by Cannacord Genuity yesterday which lists a valuation of 700p a share.

To understand why they're wrong, imagine this.
You've just walked onto a garage forecourt. A man you've never met before in a rather nice suit sidles up to you and says "'ere, squire. See this car? A real bargain. Worth seven graand it is, but I can let you 'ave it for four and an 'alf." He taps his nose conspiratorially.
"Special price just for today", he adds. "Be more expensive tomorrow, squire, so you need to buy now." He looks at his watch. "Right now."

At which point a bunch of Guardian readers pop up and start shouting about how this proves the car is undervalued and how that's an outrage.

And the moral of this story is don't take Guardian readers with you if you're buying a car.

Lost Dr Who episodes found in Nigeria

My dear respected sir

my Name is Dr Watego Adams a director with eh Nigerian braodcasting company. I have in my possession NINETEEN LOST EPIDOSE of popular television program DOCTOR WHO which i wish to transfer to your BBC. I will need a sun of twenty-five thousand dollars for shipping and banking charges to make this transfer....