Valuelessplease,
I am sorry, friend, I have held back on this using my best efforts, but I am annoyed at the way Ampex stock is performing, and your constant complaints are not helping me analyze my situation.
You call yourself Valuehunter, and yet, as I understand value investing, it is often very early to the game and those who are good at it know that they will have a wait before they realize the value that their due diligence has discovered. You are hitting us with a daily barrage of complaints about a turnaround situation that has existed for all of nine months. I think you have chosen your handle with poor judgement.
We have evidence of the other day that you were unaware of the redeemable preferred series and how it would affect price. I think this is evidence of a lack of due diligence. This to me means you have exercised poor investment judgement from the point of view of value investing. And with all your eggs in one basket, a real lack of investment judgement from any investing point of view.
You have not seen the history of Ed Bramson's involvement with Ampex correctly. This company was bankrupt when he took over. It would not exist at all without him. He was not responsible for the so-called Keepered Media Fiasco. That was a combination of bad luck and misplaced media frenzy.
You are refusing to look at certain very clear indications that this is a story with a very strong potential that is rolling out in record time: 1. New Institutional investors 2. Old Institutional Investors increasing their stakes 3. Clear indications that substantial advertisers are on board (have you checked out the iNEXTV sites?) 4. No indication at all that the PR ball has been dropped: the market has been down and nervous for a month, we have the redeemable down pressure, and the launch of the Fall Campaign was never due until October. Who on earth with any sense would spend precious dollars on PR in the face of this market and knowing that there would be a lapse of a month or more between any hoopla announcements and actual evidence of their quality? You are not after value, you are after hype.
You have no idea of what Ed Bramson and Management are doing at this time, and Carl, Jubimer, Hal and others have provided you with facts which you ignore.
You have told us, if we are to believe you, that you have a huge (for an individual) investment in Ampex. It is clear, and we have suggested the fact to you, that you have invested in over your head and are hurting and that this and this alone is the motivation for your constant, essentially valueless and contentless postings.
Lack of faith in management is the A#1 best reason to get out of an investment, and yet, with your clear lack of faith in management, you hang on. What I would like to ask you is: with your record before us, why should we consider your judgement worth anything, why should you consider your judgments worth posting?
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