Here are the top ten funniest statements by David Foulger:
1. “Don’t pay off your condo! Invest the money in RAS, then you’ll have enough money to buy FIVE condos.”
2. “People SHOULD diversify their portfolios. But if you own RAS, AFN, and Lehman brothers that’s diversification enough.”
3. “165,000 people have been prosecuted by the SEC for carpetbombing (illegally shorting) RAS.”
4. “RAS dividend is not only secure, but will be increased in 2009.”
5. “RAS has outperformed the major market indexes by 300%”
6. “The class action shareholder lawsuit against RAS management is meritless.”
7. “The $32,000,000 settlement(RAS insurers had to pay to extinguish the charges) is chump change.”
8. “Buy RAS today! Why wait? You’ll never be able to buy it at a lower price.”
9. “Anybody can win free shares of stock (in a company that has lost more than 98% of its value) if they trade it often enough.”
10. “I’m the only person on this board who knows how to research stocks.”
I have hired Mr. T to translate:
"Hey suck'as. I own a bunch of these highly leverered M-Rots that I'm trading fast and furious right but eventually gotta off load to you chumps. I pity da'fool that own M-Rots. Word to Huckster."
For Davis's top ten, I would like to nominate this hum dingger of a Davis quote:
"...My portfolio includes CRZ, DFR, NCT, AFN, RAS, NRT, RSO and JRT...But the safest of the bunch is JRT...".
JRT was $10 then. It is now 10 cents. Great call Davis. LOL. alf
>>I have never put a penny of borrowed money into investing, and I would never recommend it.
this is a blatant lie. you specifically recommended putting a relatively large sum of BORROWED money into bankrupt companies with little or no remaining business model. this is fact and is written time and time again all over this board.
You told the condo guy to put HIS borrowed money into RAS. You told him it was OK because he had "a low interest rate."
If it WASN'T borrowed money, why would "a low interest rate" be relevant? People only pay interest on money they borrow.
“Winning or losing is never determined by the buy unless you are short. It is determined by the sell (again unless you are short).”
"Don't pay off the condo. Your loan rate is too good to rush to do that in this market. Buy a mix of other financials with distressed prices. In a few years you'll be able to pay off your condo several times over. If you have a lot of AFN look at other strong plays (MF, LEH, C, RSO, RAS, CSE) and some of the property reits. The best insurance is a diversified portfolio, but financials are so beat up right now that diversity in financials will probably do the job."
Davis, I am just getting around to reading this you should be ashamed of this post. First you denied it and told Ki he was "misrepresenting" or "lying" and now we find the linked post and you try to twist your way out of it.
All you needed to do is say:
"I made a terrible misjuedgement. This was obviously very very bad advice. I totally misjudged the market. I should not have given this advice. The fact that I did, I realize, undermines my credibility, because the outcome was so terribly bad and avoidable. My statement that a bunch of financials pre-Sepember 2008 or ever could constitute a diversified portfolio is also epically unfortunate. I eat crow."
Closing prices on August 6th, 2008/October 22, 2009:dividends paid since then
LEH (LEHMQ.PK) 20.46/0.133:$0.17
Wow! What a lot of water over the dam since those 'dam' fine recommendations!
MF is actually UP!!! Oh, wait - they're not even a REIT, let alone a MREIT...oh, well...MFM is ahead by .16, if you count the dividends...wait! That's a muni bond fund, not a REIT either...and not one of DF's recommendations, either...
Such is life: numbers can be SOOOOOOOO HARD sometimes...so can facts be discouraging...when the pretenders are stripped of their pretense, and the fact-checkers check the facts.
'Buy' the way, I rate RAS preferreds as a big 'BUY' for Monday. Ask me why. G'wan: I dare ya!
I said you misrepresent things. Lets look at the record:
A search of the sentence "Don't pay off your condo!" only reveals four hits. All of them are posts by you. Interestingly, the remaining text is different in all of them. You are not only a liar, you are bad liar. I did recommend staying in stocks over paying off a condo once, and I'd do it again. Low interest fixed rate mortgages are a lot cheaper than the gains the market will see on the way up, and its hard to predict when the market will change direction. Lehman didn't work out, but that's a tragedy that only improves the opportunity overall.
The words "People SHOULD diversify their portfolios" only bring up 3 hits, two by you (today) and one by deep. I certainly think that people should have a diverse portfolio, however, and I generally recommend a large range of positions. The last part of the statement goes back to the same post that you misquote in your first item, however. While I certainly made the stock suggestions who note, the statement was not what you make it to be. It is not a statement of what contitutes a diverse portfolio that I would ever make.
I never said anything remotely like "165,000 people have been prosecuted by the SEC" for anything. Has the SEC done that many prosecutions in its history? You are a bad liar.
You got closer to correct in some of your other posts. I'll post them next.
<<A search of the sentence "Don't pay off your condo!" only reveals four hits. All of them are posts by you (meaning me, Ki1gore). >>
Davis do you REALLY have amnesia about what you wrote in 10,000 posts, or was it that you supposed that Yahoo had deleted them and nobody would check your record?
Here is what you posted to the guy who asked you whether he should pay off his condo or use the money to buy RAS, which was about $8 bucks then. You told him to buy RAS, AFN, and LEHMAN BROTHERS!!!!!!!!!!!!!!
LOL! ROFLMAO! LOL! ROFLMAO!!!!!!
Don't pay off the condo. Your loan rate is too good to rush to do that in this market. Buy a mix of other financials with distressed prices. In a few years you'll be able to pay off your condo several times over. If you have a lot of AFN look at other strong plays (MF, LEH, C, RSO, RAS, CSE) and some of the property reits. The best insurance is a diversified portfolio, but financials are so beat up right now that diversity in financials will probably do the job.
Did you get that. You posted "Don't pay off your condo."
Then you told him to invest in AFN, RAS, and LEHMAN BROTHERS THE WEEK BEFORE LEHMAN WENT TO ZERO.
LOL! ROFLMAO! LOL! LOL!
Sorry, I gotta leave for a while I...I'm laughing so hard I'm about to barf.
Now some things you got close on:
I have repeatedly said that RAS dividend was probably secure. I was wrong on the specifics of that (and I may be wrong about even the existance of a dividend, but we won't know that until next year. There was good reason, however, to believe that the dividend was secure at the time I said it, and there were also good reasons to believe the dividend would be increased in 2009 at one time. Things got much worse for the economy after that, so I was wrong on that too, but it remains that your quote is bogus. It doesn't come up in any search. I'm sure I'm said something like it, but your habit of changing words (e.g. lying) persists.
I have recently said that RAS has outperformed the major market indexes by 300% "since the bottom". You left out important context, which is consistent with your general habit of misrepresenting things. Prices change, but the statement still true as I write this. Anybody can look this up. RAS closed at 50 cents on March 5 (which is actually a nickel above its bottom). Its up over 300% from that price. The market isn't up 100% from its bottom yet.
Next I'll turn my attention to a post where interpretation matters.
You seem to specialize in lying and misrepresentation (at least when you are discussing me), yet you think of yourself as a professional.
Professional don't do such things. If you going to misquote someone, at least remove the quotation marks.