Lalit Jain:
I think "unprofessional" is putting it extremely lightly. He points to no facts justifying his decision to recommend a sell off of Naxos shares. All he does is cast aspersions on Naxos' management (clearly the result of his encounter with the younger John) and tells his followers that he will give them more information on his IMMEDIATE sell recommendation in DECEMBER! He does mention a specific sell price, $7.50. He says there is very little reliable data on Naxos as compared to IPM. IPM's independent consultants have released only a few results and they are undeniably dismal -- most less than .05 opt gold, the highest one .07. Naxos has had over .4 opt of gold verified by Ledoux on the ASE's COC ore. If IPM's 121 COC samples (which he mentions) were any good, the company would have not held back in testing and releasing the information on them IMHO.
Mr. Taylor is clearly a frustrated man. Naxos did not give him the royal treatment he felt he deserved during his infamous visit, he put his faith in another company (IPM), he's lost big and now he's compounding the situation by asking his subscribers to blindly follow him in selling Naxos shares and (astonishingly) buying IPM's. Any rational person should find that suspicious. If he cannot explain now why Naxos is no longer an attractive company (contrary to his vocal positive opinion of Naxos prior to the Greg John encounter) -- especially since he was recommending people sell it today and particularly since nothing but positive things have been happening with the company since his Greg John encounter -- he deservedly appears as nothing but a foolishly ego driven man who has no problem in casting aside the interests of persons who honestly rely on him for wise and informed advice.
I hope he did sell his shares today; however, I pity those of his subscribers who blindly followed him and did likewise. Naxos is certainly no sure bet but given its confirmed results to date it is by far the best "desert dirt" on the market. If the COC results come out favorably as indicated in the August release, its potential is phenomenal. Under such circumstances, a sell recommendation in favor of IPM shares is absurd. I seriously doubt Mr. Taylor has any information indicating that Naxos is getting poor results, as Doug Meetmer expressed fear of earlier today. Mr. Taylor says absolutely nothing in his newsletter to suggest this.
Only time will tell whether Mr. Taylor's lousy advice under the circumstances will benefit those who blindly followed it. However, either way, the recommendation deserves nothing but ridicule under the circumstances.
I apologize for the long-winded post but this was really something surprisingly asinine from this particular analyst.
Regards,
sh |
