Bill, I will answer you.
Your question is not unreasonable, although you state it less than politely.
I deny consistently being wrong. In particular, I have strongly denied being wrong about REFR because I am planning for the long term when products will be out. I have made some mistakes over the years, but they have tended to be in stocks I had a small position in. I do get out when I see problems or a stock does not live up to expectations, but I do not get out just because the price drops for no good reason. Thus, your attempts to shake me out of REFR are useless because your claims are meaningless.
Was I wrong about IDT? Depends. I sold the vast majority of my shares long ago when it was in the 30's and even low 40's and have not bought it back. I bought it as low as $14 and made a nice profit. Ditto for NTOP. I made plenty and did not leave much when it dropped.
I rarely mention my other stocks, but I did sell many of them close enough to the top to be quite happy. Examples are SCH and CSCO that I sold long ago, and did not buy back.
Clearly, some of this money went into REFR, but some went to cash until I felt like using it. Some went into bonds and REIT's and other investments.
And, perhaps unlike you, I have a steady stream of money coming in because I actually worked at a real job. LOL! Further, other investments throw off money, including some that are designed to evaporate over time by throwing off principal as well as interest.
I have also selectively trimmed my portfolio and I have made money trading other stocks.
But, I see no reason to lie. Did you note that I stopped buying REFR in the mid twenties as I sensed the possibility that Asensio and you and others might briefly push harder and get it lower? I stopped buying AND SAID SO on Yahoo and allowed my cash position to rise. This was not because I felt any less certain of how REFR (the company) would do, but because I sensed an opportunity in REFR, or elsewhere in the market. I did not anticipate suicide bombers, of course.
So, I have been buying lately, from below 14 to below 10. Despite 4 unanswered press releases from multiple companies, your hero Asensio is suddenly silent except for looking very foolish on O'Reilly last night. These releases did have some meat and it is clear more must follow. The recent rise, in my opinion, is not due to any large amount of company buyback, but to a combination of longs like me buying, institutions buying and guess what? SHORTS ARE COVERING. There is a restriction in place and finding shares to short is harder at many brokerages.
The market has turned negative again and REFR may pause to consolidate the gains. But, I am certain the price will move up on my time scale because I do believe film is being made and will continue to move through the pipelines so additional companies announce products. You can delude yourself that this means the "fraud" will be uncovered sooner and cannot continue, but that is the position of fools.
You can also believe I am a fraud, whatever that means, but I have lots of folks who know me and disagree and your opinion matters little to anyone I care about.
I am amused you like the word zero. My net worth in retirement savings like a 401K alone is well into 7 digits with none of it in REFR, well above zero. The amount of REFR I hold has grown and is well above 1% but below 5% of the shares on the market, including shorted shares. Clearly, my net worth has decreased with the market, but I can live with it. Of course, the people who have seen my statements and other proof all happen to be people you would not believe, such as the management of REFR. LOL!
Of course, I must wonder how you can have so much money as you claim to keep shorting so many stocks. But, I really don't care. You do what you do and I will do what I do. |
