Mr. Box (I'd post your real name, but Si would only delete it),
I’m sure I could have waited a few days and you would no doubt have posted 300 to 500 crazed posts here to yourself, but I’ll make this easy and maybe cut this short...
This is the last post I am ever going to make to you and the last post regarding this subject:
First, I am quite proud of my record of recommending people be long gold and gold equities for the past 7 years. I was also publicly long them from 2000 through 2003 (both when I was at Prudent Bear and when I left in early 2002 to form my own shop, Lewis Capital).
I also publicly sold them in late 2003 (a little early, as always) and then bought them back in late 2005. It turns out that I probably just should have held the gold stocks then too, but there was a nice “trade” in being out of them from 2004 through mid-2005 when they corrected even when gold kept rising (although not by much).
I didn’t, however, punt gold and gold stocks in early 2008, like one should have (from a trading standpoint) in hindsight. Then again, hindsight is always 20/20. I knew the Fed would print money in response to the housing market implosion, which is why I was long gold and gold stocks in the first place. It just turned out that Bernanke wasn’t as bright as I thought he was, because he waited too long before he began to PRINT.
That was my mistake (which I have made many of over the years to be sure). Hence, everything imploded BEFORE he printed, including gold mining stocks. Nevertheless, my strategy still paid off in the end, as I knew it would. It was MATH after all. The Fed had to print money, or the financial system would have seized up and cease to exist (the Fed along with it) and that still left only gold standing too. It was a “default or debase” situation. There was no in-between.
Gold and gold stocks (especially if you have been in the “right” ones and have owned them in a taxable account where your holding period matters) have made new all-time highs since then. The S&Ps, Dow, NASDAQ, etc have not and won’t on a “real” return basis for a long, long time, even though it's possible that they might on a nominal basis (eventually).
Being short stocks, while profitable for small periods of time such as in 2008 or more recently from July until August, is a doomed strategy in the long run if the Fed is always going to run the printing presses and devalue the "paper" that stocks are denominated in (which it has no choice but to do if it is to remain "in existence"). If the paper falls in value, by definition the paper with assets and cash flow behind them (i.e. - stocks) must "rise" over time when priced in fiat paper. Gold and gold equities simply go up more.
You claim my strategy has been “devastating” and that this is where you hatred is derived from? Never mind the obvious questions of "how in the world am I still in business then?", but let’s look at the FACTS:
Everybody knows gold has been up every single year for the past 10 years, including in 2008, so we can dismiss owning gold as being “devastating” out of hand.
Now, for the gold equities… Let’s take a look at one of my favorite gold equity names that I have bought and held and suggested subscribers own, NGD. Even if we take the highest weekly close in 2008 (before the panic in the fall of that year and slightly higher than at any other time since late 2005 when I first purchased the stock and began following it when it was Metallica (MRB) before its merger into NGD), the stock is up 22% as of Friday. As of two weeks ago, before the recent correction, it was up 50% from that level.
Granted, buying on the low in 2008 produced a gain of 1100% as of Friday, which is far better, and I was in fact able to put some cash to work at those 2008 levels for both myself and my clients that I run money for, as were my subscribers to my daily letter at dailymarketsummary.com --Oh, and that’s not a “troll” for subscribers either, as you have also accused me of. I’ve never posted anything of mine to my recollection on these boards, and if I ever did or asked others to, it was only because I thought it was “good” and thus worth posting to a public forum. It certainly was not some sleazy “ad” like you have claimed I am constantly engaging in.
For years, Orkrious (his handle on Si) would post my material on these boards, which I didn’t mind but I never asked him to and in fact did ask him privately to not put words in my mouth and only post what I had actually written. That was not my doing. It was his. He obviously liked what I had to say and thought it was worth posting.
My only “ad” is word of mouth. That’s how I’ve run my business since I left Prudent Bear, and that’s how I run it now. My letter is not a “tip sheet” and never has been. It’s tool for investors to use; nothing more. And as far as the money management side of Lewis Capital goes, I couldn’t advertise if I wanted to, because it’s not allowed of investment advisors, but I digress…
Let’s take another gold mining name that I have owned since that same before-mentioned time period and held through the 2008 disaster, NSU. Since its high point in early 2007, the stock is up roughly 100% as of Friday, and up 900% since its 2008 low when it was trading for its cash in the bank and I was able to buy more for myself and clients and suggested subscribers do the same.
That’s truly “devastating”! Of course, if you sold it when I did late last year for myself and clients, and as I suggested my subscribers do, you were up more like 150% since its high point in 2007 and up over 900% since its 2008 low.
The reason I sold it was because it’s gold cap at its Bisha project will be exhausted after 2 years of mining, and given that the company would soon begin mining it and was trading well above the NAV for its gold at the time, it seemed as if everything “might” be priced in, even though there was still a lot of base metals at its Bisha project, which I gave no value to but in reality did have value far in excess of the gold in the deposit (although not as valuable to the market from an equity valuation standpoint).
I explained to subscribers why I was selling it, but that I still “liked” the company. As I explained, I just thought it was now expensive relative to its gold, but that it was certainly possible that its vast base metals might still be viewed as favorable by the market. It turns out now that the stock hasn’t been higher since and the company is actively moving towards being a base metals company, which I believe will hurt it in the long-term and may force me to kick it out of my junior and intermediate “basket” of names I follow in my letter entirely.
These are all FACTS of course, which is something you never seem to want to get into. Your world consists of hatred, general insanity, complete fictions, and multiple personalities.
You claim I “front run” or that I “lied” and sold something yet continued to offer “the same unwavering positive opinion of it” (your words). I’m flattered that you believe I have such power to move stocks and commodities, but please, let’s see your “evidence” of this event or events?
I suspect we will be waiting a long time, because I have never done that. If I think back, I certainly sold some things in 2008 for clients (well after the peak) that I still liked and only sold because I had to sell “something” for risk control purposes as the panic unfolded in the late summer and fall. But that’s none of your business or anybody else’s except my clients. However, if I ever recommend action to subscribers of my letter, I always fully disclose positions I might have initiated before suggesting such action.
For example, just recently I purchased European Goldfields (EGFDF in the US or EGU in Canada) for clients after meeting with the company’s senior management at the Denver gold show in late September and suggested subscribers do the same in an Intraday Comment that was posted on my site (link - dailymarketsummary.com. An excerpt is below:
I’ll have more details to share in the coming days when I write up a summary of what I learned in at the Denver gold show, but I just think “now” is a rather opportunistic time to be buying some of this particular company, which I did again today for full disclosure purposes.
As always, I fully disclose when I have purchased something before I recommend it to subscribers or vice versa, but my money management clients that pay me to run money for them always come first, which is fully disclosed to my subscribers as well. Anything less than that would be a breach of my fiduciary duty.
I buy and sell things all the time for clients for all sorts of reasons that don’t have anything to do with whether I like or dislike a company or commodity as an investment, and I certainly don’t necessarily write about each trade. Subscribers know that (plus it’s in the disclaimer at the bottom of each column I write). But if I turn negative on something and sell it for a reason, why in the world would I continue to remain positive on it in what I write in my letter, as you claim I do?
So, I’m negative on a name, and now I want to blow up my business by insuring that I send subscribers to a name that I believe will be a disaster???
This is a truly interesting business concept you have, and it once again is another example of your psychosis and how your twisted mind thinks (i.e. - it doesn't think). You’re completely disconnected with reality and focused on nothing other than some sick grudge against me that you have dreamed up in one of your sick and twisted, drunken delusions.
Now, let’s get down to what your obsession with me is REALLY all about.
It began in the late summer of 2010, when I can only assume you had gotten very bearish and short stocks and perhaps sold your gold and gold miners? I am only guessing at the cause of your sudden personality change at this time. I admittedly have no facts, nor does “Terry Maloney” (which is his handle on SI), who you also apparently “snapped” on and turned “Mr. Hyde” on at the time too.
This is what makes all of this so weird. Nobody KNOWS why you had your sudden breakdown at the time. We only know that it “happened,” and it produced a bizarre change in personality towards myself and others (i.e. - even more bizarre than you normally are).
Perhaps you then got run over in those shorts and lost a lot of money after the Fed indicated it would launch QE2 in August, which I anticipated and wrote about and was long gold and gold stocks for, but you disagreed with at the time. This apparently infuriated you??? You then began to apparently “blame” me for your misfortune even though I had nothing to with it and was entirely your own doing? Again, I am only guessing at the source of your anger, because to this day, I still don’t know where the sudden snap came from?
You suddenly began to openly attack me with name calling and other silliness (much like what is now on display in this thread and can be found in your numerous unrequited posts about me since that fall of 2010 period) within a email distribution list, which Terry was a part of as well. The organizer of that email list then booted you from it because of your general childishness and the nasty emails both to and about me, which admittedly was not the first time that you had acted that way towards others, just not specifically “to me” up until then.
At this point, you TRULY became psychotic, because now you blamed me for your booting from some silly email list as well. This is when the obsession with “moderating” the Clown thread on SI also appeared (a silly Internet message board of all things) and you began claiming I was “Lucretius” (which is your latest obsession that you seem to be obsessed with “proving”). The constant emails and SI private messages became downright creepy at this point. The first threat appeared with this:
“You f*cked with my space pal. Wrong move.”
I’ve obviously changed the second word so it’s not so profane, but that threat preceded what in your mind was apparently an all-out character and reputation assassination of me and my business to make me “sorry” or somehow “pay” for what you believed I had done to you in your sick little head.
I still have the email. My attorney suggested I begin to keep a file on you, which I have. Not to “sue you” for, but in case criminal charges or a restraining order were ever necessary given the clear pattern of general insanity and growing anger and hostility from you.
That brings up another thing. You (and the other 8 personalities in your head) keep claiming you’re “ready” when I sue you? This is another one of your sick, imagined, and self-aggrandizing thoughts/claims.
As I explained, in one of only two public posts to you ever on this thread below, I have no interest in suing you. You aren’t worth it.
You have indeed written numerous libelous things about me, which might present an opportunity for a lawsuit, but “damage” must be shown in order to prevail in a court of law on that claim. Plus, you would need assets to fund any judgment that might be won against you in order to make a lawsuit worth the expense. To date, I have no idea if you are even worth 2 bucks and am not aware of any damage your comments have caused me, other than of course to waste my time in writing all of this today.
The fact is that most people know you to be a lunatic and don’t take much of what you say very seriously. But I digress once again… Let’s get back to when you “snapped”:
For a year since that late 2010 period, concerned friends would send me links to your sudden outbursts about me that were posted on these boards, consisting of name calling, innuendo, accusations, and glee whenever gold or gold stocks corrected, which you assumed I was long and therefore I was hurting (the thought of which obviously pleased you greatly).
This was no doubt why your most recent outburst of hostility towards me appeared in late September, one of which now begins this thread and I have posted this response to, because the gold mining stocks were being hammered by forced liquidation selling coming out of Europe after hitting new all-time highs just 3 weeks ago. I can only assume you were overjoyed to think I might be long them and thus being hurt in the process, which then triggered your outbursts of hatred/celebration at what you assumed must be my misfortune.
I ignored similar outbursts and attacks from you repeatedly for a year, naively thinking that you would grow tired of it and eventually just quit. A simple SI search for “Lance Lewis” will easily pull them all up, although the emails obviously only I have access to. Your record of obsessing about me and stalking me during this period is quite clear and documented, as it is now even more so with the creation of this “repository” of your insanity that is being created in this thread for all to see.
I mean… who in the world does this but a complete lunatic???? A YEAR of hate and obsessing despite no retaliation or even communication from me??? WTF??? You even dropped your subscription to my letter early this year??? Why do you even care anymore??? But I digress yet again…
Finally, I had “had enough” a couple weeks ago and posted to you, which further inflamed you, got you temporarily banned from this site, and then brought us here to this somewhat “odd” forum.
This brings us to the end of what I have to say to you: As I have told you before, I only have one thing to say "to" you: LEAVE ME ALONE.
Obsess about somebody else. I want nothing to do with you. I want ZERO contact. You’re a very sick man and quite dangerous I believe, which is why I posted the warning to you below and why I wanted to publicly warn you to stay the hell away from me and stop cyber stalking me.
Oh… I almost forgot.. And about the prosecco you mentioned in one of your many insane rants below. As you noted, you sent me that in late 2009 (AFTER I supposedly harmed you in 2008 by being bullish on gold and gold miners, which you now claim is the source of your sick and twisted hatred).
You wanted to send this gift to my home address, which I refused to give to you. That made you angry (just as it did when I refused to ever meet with you in prior years when you repeatedly asked to), and I considered refusing the gift entirely but was afraid you might go even more postal on me. Consequently, I suggested you simply buy it in a store in the area and leave it for me to pick up. This also apparently made you angry.
This was back when you were only a little creepy in how you stalked me (like the weird “devil hat” you sent me in the mail one time).
It was like you were some crazed fan (before it turned to angry stalking), but it was still a little scary and very creepy.
Anyway... that prosecco was a gift from you, supposedly to congratulate me on a great call in predicting that the Fed would eventually print money and reward gold and gold stock investors.
Your sudden personality snap would come AFTER that in late 2010 when the numerous “Lance Lewis sucks” -type posts began suddenly appearing from you on these boards.
Now you claim that your hatred of me is derived from a failed investment strategy that I supposedly advocated and hurt you with that goes back to 2008??? That you also sent me several bottles of prosecco for??? Your psychosis knows no bounds.
Am I writing to Dr. Jekyll, or is it Mr. Hyde today? You’ve temporarily gone a little “nutty” over the years, and I’ve been forced to stop communication with you on two or three occasions because you gotten downright scary. However, you would always apologize and promise to not go "nutjob" on me again, and I would always be willing to patch things up and once again communicate with you. In fact, part of the reason for that willingness to patch things up was because I was always worried that if I cut off communication entirely, it might end with you totally going to “crazy town” (just like you have clearly done), which has obviously turned out to be a valid concern. If only I could have found a way to be "long" your craziness, I could have made a fortune.
In any event... It is because of this history that I suspect you have always been a little “unbalanced” mentally, just nothing like this recent episode in terms of length of time and volume. That’s why it’s so concerning, and let it stand as a warning to anyone else that might associate with you. They too could become the next “target/victim” of your weird obsession.
So, for the last time, would you please just leave me and my family alone. I want nothing to do with you. You don't "know me," and I certainly don't want to know you.
You will never see me post “about you” or “to you” on these boards, no email… nothing. Your continued attempts at character assassination and cyber-recruiting of negative “groupies” (that you have told God knows what sort of lies to) in order to share in your hatred of me only waste your time and that of others. They will neither trigger any retaliation on my part, nor cause me to pay attention to you. As far as I am concerned, this is all a giant waste of time. I honestly don't care what you do or don't do, just stop harassing and stalking me.
As I have tried to do for some time now, I will try to forget that you even exist. I suggest you do the same, or with the way this is escalating, the authorities will eventually get involved. That’s not a threat. It’s just a statement of fact.
Goodbye and good luck,
Lance Lewis
President
Lewis Capital |
