David,
Your key question is "As an experienced investor, is it common for you to rely upon the DD of others to research a company?"
The answer is "hell yes..."
There are about 20,000 public companies on the US markets. I use a variety of different sources of "top-line" information to determine which of those companies should research further. In effect, this "top-line" data is "the DD of others".
After I have used the "top-line" information to determine whether a company is worth considering, I then do in-depth due diligence. A number of examples of my work can be seen on the TNL web site.
Now, to come back to GLOW, none of my "top-line" sources have any information on this company. So, I am asking if anyone here can provide me with it, based on their own due diligence work. After I see what is already available, I will make up my mind whether I should issue an immediate retraction, ask GLOW itself to confirm the available information, or let my opinion of the company stand as is. If there is legitimate reason for a retraction, I would like to make one and clear the air.
I also think that it is important to point out that Gary is not in the US at the current time, and I do not want pay for a phone call to Dominica, thank you.
Hopefully you now understand why I have asked Cheryl for answers to my questions. Sorry to have disturbed you and raised questions about my ulterior motives, but hopefully you now appreciate that my interest is to set the record straight.
Bob Davis
The Napeague Letter
napeague.com |
