That's right Fish, I didn't ignore Jean I just thought "it is a tale told by an idiot, full of sound and fury, signifying nothing".
He seems to have doubled down by insulting me which is funny, typical of these forums and why I generally don't post.
Interesting how my comment triggered the response on the popularity contest, what did Ben Graham say - in the short term the market is a voting machine over the long term a weighing machine. The fact that people trust authority figures is why short-sellers can arbitrage.
A drop in a stock I hold is a reason to reconsider my investment thesis but not necessarily sell.
I base my investments on primary and secondary research and take little notice of tertiary research.
Primary research is what VGI did, checking offices, using the product, checking the patents.
Secondary research is reading the financial statements, often a useful source of information.
Tertiary research is analyst reports, what the CEO said, what the auditors know or don't know (Manny embarrassed they may be but they won't be left holding the bag here) or what VGI said for that matter.
The longs have done no primary research on this so I would say their flies are down and their cocks are hanging out as they rage about how the shorts should prove all their claims conclusively.
On the other hand they have no issues with longs who buy stocks on no research because they think the price is going up. Manny walk a day in the shoes of a shortseller then tell us how we are shutting up longs, crushing free speech and manipulating financial markets.
You ever had a frivolous libel suit thrown at you by a fraudulent CEO?
If you are long a stock it is incumbent on YOU to do all the research yourself, not trust the shorts or the management.
VGI found a whole bunch of cockroaches in the kitchen though, it's amazing that people are happy with the BS explanations given from management for why they were there.
All I would say is that's it's OK to not know, all the best investors are not sure of themselves and always ready to change position based on facts. For me to be long or short I need to "prove beyond all reasonable doubt", if there is the slightest doubt then I close or don't take a position.
I think VGI didn't provide conclusive proof for me to establish a short position but they sure as hell provided reasonable doubt for longs to run to the hills. That's what many of them have done over the last year since fish brought this up.
Good luck to all, I am signing out for a few more years. I see very little good sense on these forums fish, for christ's sake give up the technical analysis bullshit already.
The aussie dollar devaluing is a good thing, if there is a global economic crash then it will stabilise your economy with an export led recovery at the expense of you not being able to buy that 60' flat screen. Don't be speculating on property and shitty stocks and you will do OK.
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