in his first year of operating the fund he was investigating a Chinese company listed in the US and found it was fraudulent. He extended his research to similar Chinese companies listed in the US and found the same thing. Exposing the fraud netted his investors 700% return in the first year. His actions meant that other investors didn’t get sucked into the scams. The people already invested in the scams lost money- but their investments were already worthless. I am sure they blamed the shorters for their losses. But far more people didn’t lose money by not investing at all. Yes, he did earn respect for this but if you want to label that as criminal that’s up to you. I recommend getting on his mailing list and learn the extent that a company is researched prior to his taking a short position. It makes you realise how little investors actually know about companies they invest in. In terms of AL3 the big questions I have is how profitable will it be and how capital intensive it is. The fact that Regal is a cornerstone investor is reassuring- a hard edged hedge fund has run the numbers and committed significant capital. That’s not a guarantee. If the company runs into trouble you will find Regal has exited before you realised the extent of the problem or alternatively it will offer distressed funding on terms that suit them rather than you. But for what it’s worth it’s a positive. As a non holder I’ve said enough and won’t be posting further on this thread.
AL3 Price at posting:
19.3¢ Sentiment: None Disclosure: Not Held
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