Shaq - Not having a go or critisising its just that I cant see them acting as an agent for LG from this statement:
"Weiss Asset Management is an asset management firm located in Boston, MA. We employ deep fundamental and statistical analysis to find undervalued securities throughout the world."
There is not enough profit for them to be acting as an agent for LG.
I think they see an opportunity to make some serious profit here as surely there are better prospects on the market to invest a few million dollars of client money.
Andrew Weiss does not appear to be a guy who would invest / assist a tinpot gold panning operation based in Singapore.
In the Press (from Wikipedia)
During a CNBC program, Michael Metz, the Chief Investment Strategist for Oppenheimer Holdings, proclaimed Weiss to be "one of the most brilliant money managers that I know."
Bruce Greenwald, the Robert Heilbrunn Professor of Finance and Asset Management at Columbia University and author of Value Investing, said of Weiss in an interview with The Motley Fool, "If I had one person to pick and one guy to put the money in, I would pick him."
Robert Solow, a Nobel Prize Laureate in Economics and an Institute Professor at MIT, said at a press conference on March 15, 2005 "[Weiss] is a significant person among US economists. I have known him personally for 30 years and I have the highest respect for him."
Laurence Kotlikoff, Professor of Economics at Boston University, was quoted in The Boston Globe article Nighmare in Prague as saying Weiss is "a brilliant economist, and he’s an outstanding investor. He's scrupulously honest, and I'd trust him with anything".
SBL Price at posting:
1.7¢ Sentiment: Hold Disclosure: Held
