Feel free to tell me what you think is an important point made by Asensio in print or on the radio and I can respond.
Most of it boils down to:
- Asensio does not believe what a press release says even if the statements open the company to being sued if they lied.
- Asensio suggests the worst case scenarios are what must happen.
- Asensio quotes some old news article where a reporter mis-spoke or quoted someone outside the company who was answering a different question.
Finally, his main point is that since nothing has happened in years, nothing will ever happen.
Explain to me why I need to convince you that the above is not great arguments. Pick one or tow at a time, and I will gladly reply. I am an expert. Asensio is not. He does best on companies with huge debt and with analysts hyping it. REFR has neither. LOL!
You asked respectfully and I am answering the same way. I freely admit that there have been plenty of opportunities for shorts to make money in REFR over the years by trading in and out, not holding. There have been even more for longs who traded but note that those that held did well, despite the shorting. I have been buying since 9 and it tends to go up.
The situation today is different. We no longer get the meaningless hype of earlier times with words like SOON. What we have are many statements from licensees of real products and soon. Sales have been announced by one licensee and others are ready as soon as the film arrives, which is very soon, definitely before the end of the year.
So, I suggest people look out for themselves. As a long, I try to avoid buying after someone else has finished buying and tries to get me to pump the stock up so he can sell. I suggest that shorts look at this stock (REFR) the same way. A serious attack by shorts has resulted in higher prices. (I was buying when they pushed it to 11 just months ago.) The price has been above their average shorting price and they are running out of the ability to short since most of the float is held tightly and can not even be borrowed. I am off margin and my shares are not available. As I buy more, I lock them away. I am in touch with other investors representing 1/3 to 1/2 of all shares and most of us are like this.
So, to get out without a maximal loss, Asensio is being nice to other shorts now? Sure! As soon as he buys, the stock rises, he needs new fools to short now. He is an ANALYST in the same way as Mary Meeker who hyped all her stocks up and never said sell.
One last point, if I may. Do not believe the track record Asensio wants you to assume. He loses many times. He does not brag about the times he cuts his losses and does not bother publishing any papers. Want me to name some stocks he attacked in public and lost? I can. Want to discuss how he has done with law suits and fines for cheating?
I can respect an honest short who finds a bad stock, waits, and takes his gains. I hate longs and shorts who must use hype and threats and break rules to try to get what they want. I play by the rules.
Lest you misunderstand, I really have no concern if some folks want to short REFR. If you can find shares to borrow legally, go for it. I will sell nothing and when the royalties roll in, will be happy to spend them. Having shorts and traders go in and out before then changes nothing and I will get no margin calls. If anything, the shorts let me get more shares cheap than I expected. My daughter is especially thrilled with the 11K shares she got with an average price below $13, not very long ago. If we somehow went there again, I have relatives and friends who now believe me since they have seen the prototypes and see I am right about the short interest and the conspiracy by someone like Asensio. LOL!
One last note. Wexler has not stated his position on this one here. Someone claiming to be him posts on Yahoo. Will he confirm or deny?
Respectfully,
Bink Von Xanth |
