Kevin, you are deluded in assuming I ever give up. You seem to assume your god, the Arseman, is tough and always plays to win. Ever wonder if Longs can be tougher and play to not only win but win big?
You are talking to one. Call me pompous and it rolls off my back. I am out in the open that I have a lot riding on this stock and part of defending my investment is to make people like you look like fools so others can see and stay far away. Or, they can pop up and I can pick on them. I am damn good at it and enjoy it.
Keep it up and I will become the biggest poster in this forum while the official owner hides and is afraid to respond. That alone raises my esteem for Wexler who may know when to fold them.
But, since I am a nice guy, I will reply to some of your points logically. But I refuse to have the low tolerance you demand. I have high standards I hold myself to and high standards I hold others to. you are not meeting them and I will not tolerate that. Defend yourself properly or leave the battlefield to someone who can.
Of course, if you guys see no point in discussing REFR, I will have nothing more to say. I am not trying to get anyone here to buy the stock. This is a place where people who appreciate shorting hang out and hope to hear words of wisdom from Wexler. I can respect that as long as you pick OTHER socks. I simply am willing to rebut anyone knocking it until the cows come home. I have plenty of time. i have the ammunition. And, not least, I am right.
We seem to measure things in different units. Can we agree to talk about the same thing?
I use Asensio as a proxy for the majority of the short position in REFR. I do not claim he personally is short a single share, but I do claim he represents a group of clients, many quite large, who have been shorting the stock. He has said his firm is short. I take him at his word here since he would be in legal trouble if he lied.
I have no problem if he and others short any stock within the rules. If it can be proven that the rules were bent or broken, such as getting an MM to let them short into a down tick many times, I have a problem with that. So does the NASD at my urging. I can go on but you get my main point. I also do not have a problem with anyone making public claims, including wearing the hat of an analyst. I can not say the above actions please me, but if the rules are followed I can live with them an even consider them my honorable opponents. Heck, if they convinced me with facts and logic, I might change my position in the stock. Nothing said here has even given me the slightest doubt. Your argument boils down to Arsenio the Arseman being bigger than my daddy. I stopped worrying about that when I was 3.
But Asensio seems to be doing additional things that I do not believe are honorable. Some are very clear and some are my opinion based on my research and observation. At the very least, his tactics are not ethical.
So, you suggest that since he only issued two toilet Papers in the span of one week I should not ask when he will give up. Explain your illogic.
I suggest giving up for him would be to buy back his shares on the open market at whatever price he must pay. Not posting more lies does not count as giving up. Getting Lashinsky to repeat his lies is not giving up. Got that?
I repeat that he is trying to get longs to sell and he will not win because the longs believe people like me, not Asensio. I have credibility too, and I know people holding about half of ll REFR shares regularly listen to what I say in public and in private. What matters here is not what YOU think but what REFR shareholders think. I beat you there, hands down.
He can also try to get people like you, who worship him, to sell while he buys. That plan is not working real well since he has to turn around and sell back anything he bought to keep the price from rising right back. Shares to short remain scarce. illegal shorting will be monitored and caught. The temptation for the MM and others to squeeze him is increasing.
The volume is puny today. Show me evidence of much shorting or covering while he waits? I grant you we are not seeing waves of buying but there is no need for that for REFR to win this battle. Having seen the price at $11 or so, this price bothers none of the longs. They are waiting patiently for the profits that will come. Asensio and gang are waiting for a miracle. Subtle difference. Time is on MY side.
Stop trying stupid tactics like assuming I defended any other company that Asensio attacked. I do not care about Diana or Chromatics or any other stock. If I looked deeper into them, I doubt I would have been a big buyer in the first place or that I would have stayed in them when allegations came out. I only care about making money. I am not in love with a stock or its management. If I thought REFR would not go to $100 or $1000, I would not be here. Got that? Threatening me with a dip to $20 first or even to $2 does not frighten me. It excites me since I have so much cash I can throw at this stock if the opportunity arises at prices that appeal to me. My problem is that I do not ever want to own more than 5% of any company, so I do have limits. The continuing buyback makes it easier to hit the limits.
You clarified your point about winning. Can we nail it down. Winning means doing as well as you can. Sometimes that means losing the minimal amount. I repeat, if REFR got a buyout offer from a company like GE at a higher price, what would be the rational behavior for a short if you believed the deal would go through? What would it be if you considered that the deal would be rejected and a higher bid would come through and be taken? Maybe even a bidding war.
I am not predicting this will happen, but it easily can. Once the technology is seen and being sold, a short can hold the price down only so much before it becomes a tempting takeover target.
When a rational short sees such possibilities, then he considers that buying back shares steadily, even if it means gradually running up the price, is an option that lets them lighten up, at least, even if they lose some money. The risk of a squeeze-type event is too great because that can lose them even more.
Clearly, Asensio is not making that decision and instead seems to be hanging tough. To me, he is playing poker and bluffing with a weak hand.
I am not bluffing. I also can see his hand. So can anyone who looks at this.
Going on, you twist my words some more. I said I had respect for Asensio in trying to make (and keep) money. I said I believed he would get out of a bad position before it got worse. Therefore, I wondered what made him not do it here. I never said I considered him honest. I actually expect him to be dishonest at times, and certainly of using his public words very carefully to selectively give negative impressions without quite saying things that would make it easy to sue him. Yet, he gets sued anyway.
I have known many bullies like him. The really smart ones can get what they want quietly, behind the scenes. They do not need to act like a Mafia Don and use violence. Why is it hard for you to understand that longs can have as good an education or better than Asensio and more degrees in more varied subjects and a much richer life experience. I have more degrees than him and many of the biggest REFR shareholders are Doctors, Lawyers and have Ph.D. degrees in a range of subjects. Who cares about Asensio?
I have no doubt I could have fun comparing scores and honors with him and my bank account is doing well too. And, I did it the honest way. I also came to the US with nothing.
I repeat. Your tactics are not impressive and do not intimidate.
As to your last point, you seem to be seeing the world in a way that does not matter. Of course it is key that REFR make an actual profit, for longs like me. But for shorts like Asensio, the real metric is are they making or losing money when they cover. I suggest that the price of REFR can zoom up for many reasons before a single penny is delivered to REFR in royalties on products.
People like Lashinsky make subtle distinctions between a licensee of REFR receiving a purchase order versus a sale. There is a distinction. But, even if you assume the order was taken because they would be ready to fulfill the order in weeks or months, so what? Shall we wait? When the planes are flying with the new windows and the check has been cashed, is that enough? Not for some people. They want to see lots more sales with a 3-year backlog.
The problem is that companies are not required to report sales in public. But if they call up GE and tell them they need enough adhesive every week to do 1000 windows, how many barrels would that be? GE then hears from another licensee wanting Lexan or asking when they can promise 100K square feet of film per month to them. Still no public announcements.
What can happen next? The quarter is over. 90 days later these companies do their books and send a royalty check. Only then do we hear about it, or maybe not until REFR files the required paperwork.
The trouble is that the stock price may not wait so long to go up. If people hear of the sales and see the products flying off the shelves or ride in these planes, the price can move. There can be a natural rise or a squeeze. There can be a takeover offer at a high price. If Asensio hangs in there long enough, he can hang himself and his clients. That can be this year even if REFR does not declare profitability until 2003 or so.
Of course, since you took the cowards way out and put me in your ignore file, I would be very upset if you replied to me in private or public since I know you would never lie. ;)
I declare you a loser, in more ways than I can think of. |
