Clue #5: Hide and Seek.
Well, if I wanted to find Assensio's BAD picks, I surely wouldn't waste my time in his "selected performances" section on his website. SELECTED indeed. If we extrapolate his other performances from locations outside of his "selected performances" (most from Business Week articles), well we find quite a different picture of Assensio The Stock Shorter Who Can Do No Wrong according to his devout and faithful. Wonder why we never saw a research report on these . . . you have been warned. :)
Special thanks to Knowell at SH for his research.
SHARED MEDICAL
Assensio recommends sell at $50 on June 16, 1997.
"One company that has recently caught Asensio's attention is Shared Medical, now
trading at about 50, which Asensio believes will soon decline to the area of 25 to
30."
Trading currently at $75.
COMPUTER LEARNING CENTERS
Asssensio recommends sell at $27 on December 29, 1997.
Trading currently at $34.
ACTION PERFORMANCE COMPANY
Assensio recommends sell at $24 on June 16, 1997.
"Asensio believes the company's price-earnings ratio of
40 is "ridiculous." He sees the shares, now at 23 5/8, plummeting to 12 in
the not-too-distant future."
Trading currently at $37.
US OFFICE PRODUCTS
Assensio recommends sell at $18 on June 16, 1997.
"Asensio says its "cash flow has fallen out of
bed." He believes the company is destined for a severe decline."
Traded as high as $25 and currently trading still at $18.
BIOVAIL
Assensio recommends sell at $30 on September 9, 1997
"We believe that Biovail shares will soon trade below $12 per share."
Trading currently at $45.
CELLULAR VISION (One of Assensio's few long recommendations - don't quit your day job Mr. A - well actually you should)
Assensio recommends Strong Buy at $9-10 in February/March 1997.
"Asensio & Company, Inc. reiterates its Strong Buy. We firmly believe that CVUS
shares are grossly undervalued and will soon trade at $25 per share or more.
We strongly recommend purchase of CVUS shares."
Currently trading at $6.
Please click on geocities.com to better view graphic demonstrations of these failed picks. |
