Graystone,
I have seen a few of your other posts concerning Asensio. Making him out to be unscrupulous, doesn't make him that way, any more then it makes the CEO of TRBD a crook or a con.
One thing about Manuel Asensio that is interesting, and that is that he is vocal and public. He isn't hiding behind an office door ringing up his friends and associates setting up a short play which lulls the market to sleep by slowly eroding the share price.
Yes it is volatile, and yes it hurts alot of investors, but are the investors hurt because Asensio decides to get on his soapbox, or are they hurt because the companies they have invested their hard earned cash in is not being used wisely, or even for the purposes at hand.
Solvex was a company that I had invested in. I had many conversations with their IRO stationed in New Mexico. I even had their Investors packet which was really nice. Very professionally done. I looked at the numbers, and they were ugly, but the presentation was top notch. These men who orchestrated this deal may not have been crooks in the sense of "lets make a fake company and fleece investors", but they were dishonest in their dealings by leading investors by the nose with feel good press releases about all the great things that were to happen in the "future". This may have been a ploy initiated by the Board to stave off any negativity due to lack of performance, so they could "just" get their tar sands plant up and running, and be excused since what they were doing was the best thing since lemonade.
All in all the facts are that the company was bogus in that it was making itself out to be something it wasn't. Bottom line, they are the ones being charged by the SEC, not Asensio.
Who is to blame, Asensio, Solvex or maybe the blame lies upon each of us who bought shares in the company. I know it was my fault and no one elses. I should have been more diligent in my due diligence. I spend countless hours scrutinizing the house I am planning to buy or the car I buy, so why not the same treatment to the stocks I buy. Of course that only applies if I am a true investor. Meaning that I am loaning the company my money to get a return on the companies successes.
If I am a trader, why should I care one way or less about the company. I just care about indicators that lead my money to the best return.
That is the bottom line.
Dug |
