Mr. Pink, you have rather "cartoonish" and simplistic images of management at REXI; it doesn't add much to my thinking. However, in reading the 10K, I am concerned when I see management (esp E Cohen) involved in so many businesses, and businesses within businesses! I hope EC is a good delegator! Concomitantly, it would seem almost impossible to maintain some sort of "underhanded" activities as you would ascribe, while rushing around "from board meeting to board meeting"; "loose ends" would be oozing out all over- far more evidently, and far sooner than "now" (last year or two).
I think you give too little credit to the many, many people involved at Resource America who would have to "play along", not to mention Lehman Brothers, and others they do business with.
Were you ever short Hayes Modem, when it was resurrected out of bankruptcy with a merger with Access Beyond? That was a complicated deal, but the "shorters" made 900% |
