To: VivB who wrote (1665 ) 10/8/1998 7:50:00 PM From: Ralph C. Cinque Respond to
For CPPKY investors only. Thanks Viv. Just today I looked through many of the old issues of Investors World to see how many times Dessauer pushed Pokphand. There were tons. He started at $12, but there was a long period where the price fluctuated between $9 and $11 at which he pushed it. Then it fell to $8 at the start of the banking crisis in Thailand and Dessauer pushed it . Then it fell to $5, and he pushed it in a big way at that price in the December 97 issue; it was the second stock he talked about in that issue. He never pushed it again in print, but as it fell further he did recommend it on the hotline, the last time about $3. When it fell to $1.50, he put it a hold. Now consider, that because he pushed it so much, a lot of people, like me, bought it multiple times. The reasoning goes that the loss won't hurt so bad if I average down, and furthermore, Dessauer is always urging people to "buy more shares" and so a lot of people undoubtedly did. Now, I'm sure he knows this. That's why for him to glibly say now after all these years, "I know it is hard to swallow a huge loss, but I would switch to Fletcher Forestry" is so unconscientable. That's all we get? If I knew I had cost people thousands upon thousands of dollars, misled them about something multiple times for years, I would feel so responsible, and I would feel so obliged to express a heartfelt apology. Screw my reputation. I would take responsibility and acknowledge what I did. But Dessauer has no integrity. He is very clever. Did you notice that he listed it as a "conditional" sell (it was "Sell", not "SELL")? But he didn't say what the conditions were?????? I think what he meant was, "Look, you do what you want with this stock, but for the well being of my newsletter, I have got to get it off the books." Dessauer is thinking ahead- way ahead. He knows he's going to lose the people who followed his advice on CPPKY. But, he's already thinking about the next wave of subscribers, and he wants to make sure that they don't get sight or mention of CPPKY. He knows he miscalled this bear market, but he also knows it's going to end someday, and as long as he keeps recommending stocks all the time, he will be able to claim that he was recommending purchases at the very bottom (which will be true). I would be willing to bet that he never brings up CPPKY again either in the newsletter or the hotline. It's not part of his game plan. Like the Phoenix, he intends to rise again from the ashes of other people's ruin.
