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To: marcos who wrote (6291)3/6/1998 4:26:00 AM
From: Bill Wexler  Read Replies (1) | Respond to of 10836
 
I don't follow Asensio blindly. I simply trust most of his recommendations because he has built an excellent track record over a long period of time - both short and long. If I were an institutional investor, I would feel comfortable parking my money in his hedge fund until his performance proved otherwise.

I am fully aware of the possibility that he could be dead wrong on this one. If he's wrong, and I get caught short ... then you stand to benefit because I'll be forced to cover at higher prices.

Asensio issues his reports for the exact same reasons that companies put positive news and hype on PR newswire. He is hoping to help his position by airing his negative information. There is nothing wrong with this unless he crosses the line into misinformation and libel.

BTW - Asensio has so far been wrong on shorting Biovail (BVF) and going long on Cellularvision (CVUS).