I want to thank all the posters who tried to take me on today, a simple investor who is making good money in this asset class along with thousands of others...insinuating I am stupid, two of you calling me a liar outright. I have read y'all for a yr or so now wondering if I made the correct decision in investing in LPI life settlements.
It is obvious to me at the end of this long day that none of you has half a clue as to what you are talking about...you have a lot of half truths and then twist those around to fit your bias, make money as short sellers, or who are simply bitter that others are doing better than you financially...sounds like the embittered OWS group.
I gave you opportunity to give me your email so I could send you verifying docs. Gave you my tele number on multiple occasions. I thought better about sending out my docs for fear as to who might see them and use them against me but offered my tele number time and again, invited u into my home to see the docs personally.
Surprise, surprise...not a single one of you has expressed an interest in calling me, offering one lame excuse after another. Because I have nothing to hide and considering that none of you posters has called, you tell me...who is more interested in the truth? You or me.
I have drawn a conclusion today...y'all are either insincere in wanting to know the truth or cowards...or both.
I hope every individual who opens the LPI message board sees this post and comes to understand you as I have today. I believe I'll repost this particular piece over a period of many days going forward so that as many people as possible will see it. You have lost all your credibility today. You are washed up and will carry little if any weight in the future. You may continue to rant on but sound more a 2 yr old throwing a temper tantrum.
Thank you for revealing yourselves for who you really are...disingenuous or cowards or both. It has been a pleasure and easier than I imagined.
17,500 resale? Holy ____ Batman! The bulk of the sales from 2005, 2006 and 2007 are now extending past the original LE. Sales increase greatly after that from 2008-2011. This means the resale number is really going to grow in the next few years. If new buyers can't be found who will stop the policies from lapsing? So I guess the idea is to give better deals to the people who buy the resales at the expense of the first fractionals to own the policy to keep the house of cards from collapsing? Or are the policies being sold priced off the same lame Cassidy LE?
Once again, we hear from a pumper. This is what the pumpers, likely paid or working for a distributor, have always done before bad news hits:
1) Deny that the business model consists of taking a policy priced by industry standard LEs and then changing it (poof!) to a new LE up to 50% shorter by the stroke of a pen. There is not disclosure of this purported business model to clients. This is the basis of why the government regulators want to put LPI out of business.
2) Deny that part of the business model is based upon selling people hope, specifically promising double digit returns, and evidenced by the company CEO stating this in two forums that can be linked off the LPHI website.
3) Attack the messenger, in this case the plaintiffs in the civil suits (including the SEC), instead of defending their arguments when they know their argument is worthless. For example, pumpers first said the SEC found nothing in their long investigation. Then the pumpers said the Wells notice meant the SEC found nothing and would never materialize. After the Wells notice came the pumpers said LPHI beat it! When the SEC decided to pursue a case against LPHI, the pumpers said it would be dismissed. When the judge refused to dismiss the case the pumpers continue to attack the SEC. This current pumper uses the faulty logic that the SEC could just shut LPI or LPHI down by the stroke of a pen, when in fact the SEC is involved with civil and not criminal issues. This pumper denies the plaintiffs in the other civil suits have a case even after their class action suits have been certified.
4) The pumpers have no valid reason why there is currently a dividend higher than the most recent revenues. They never mention that the dividend primarily enriches one person.
5) The pumpers misrepresent what has happened in the past. Our current pumper denies LPHI no longer does fractionalized business in CA and CO. He points out that LPI owns policies in CO when they have been (mostly) sold to raise cash.
6) The pumpers deny the true total return fractionalized investors are getting, since they have no valid method to calculate those returns. They deny the premium forwarding and resales are a result of poor returns.
7) The pumpers never, ever, state the number of resales and why the resales are necessary.
8) The pumpers love finding a scapegoat, and in this case it is the shorts. What they fail to mention is that shorts have made money. It is hard not to make money when a stock is down 60% YTD and much, much more from the high. The pumpers also deny that the short positions have dropped to around 830,000 shares.
9) The pumpers always have a price target, in this case $10, but never have any math explaining why the stock belongs there. They conveniently forget this company has red ink and by their own admission will not see it reverse unless the SEC suit is settled favorably.
10) The pumpers always deny there is a need for full disclosre of fees and commissions. They rationalize that full disclosure is not necessary.
11) The pumpers never mention anything that can possibly invoke Howey. For example, the pumpers will not mention the number of resales, why the premium forwarding is necessary, or who is helping and promoting resales (and for what purpose).
12) The pumpers never, ever mention the declining cash position.
13) The pumpers never, ever mention the dismal and embarrassing results of the two Regent portfolios advised by LPI.
15) The pumpers never, even mention that the Life Partners margins are far higher than anyone else reported in the industry, despite having no technological or business advantage that would allow for such higher margins. THEREFORE, THE HIGHER MARGINS MUST RESULT FROM A LOWER LE BEING ATTACHED TO EACH POLICY PURCHASED BEFORE RESELLING THE POLICY TO FRACTIONAL INVESTORS. THERE IS NO OTHER EXPLANATION.
No you don't, unless it is a fabricated internal memo or something likely material that the shareholder don't see. You probably are making that up too.
The original spin from LPI and the licensees was that the SEC investigation found nothing because the Commission was there for months, looked through reams of paper, and couldn't find a thing wrong with the operation.
The next spin was that the Wells notice was bogus. In fact, people on message boards--likely licensees--were claiming LPI "beat the Well's notice." That wasn't true either. Then the SEC sued.
Now the spin is that LPI filed a great Motion to Dismiss and because LPI won a favorable ruling once (not found in any other court) they will do it again. Guess what? Filing a MtoD is a standard defense if you have the money to pay the attorneys (Pardo and Peden don't likely care since the BOD voted to pay their legal fees with corporate funds).
What will the next great spin be? That LPI is guaranteed to win in court? After that, LPI is guaranteed to win on appeal?
The last published number from the sales news letter was more like 17500 resales if I recollect. That must be some pretty happy campers in their LPI fractionals for sure. They were reselling them to make maintenance assessment payments on their underfunded HOA condos in Hawaii.
I think it's all a conspiracy now too.
"The SEC’s investigation is continuing."
This is the last line in the SEC press release when they filed suit.
We aren't a bunch of Special Ed kids.
Pamabama, you came to a public, but anonymous forum and asked posters to lift their dresses and reveal their phone numbers while calling your number, and you think that the lack of takers is a victory? That reveals our character? Really?
If you only knew the harassment and threats outside of this forum that some posters on this board have endured over the past 8 yrs from the LPI contingent, you'd have a different appreciation for anonymity and why it is valued as it is and why it is protected by law.
The IDs on this board aren't here without motive, and neither are you. The posters here are very knowledgeable, have been exposed to copious amounts of documentation, have performed analysis on the empirical data, and have in some instances attempted to give the benefit of the doubt by simply asking, "would someone really do that?". Unfortunately, some people did what we thought was implausible.
You have obviously been emailed, as you had proposed, as a means for transferring your documentary proof of what you say. Yet as it has been so in the past on this board, no proof arrives, but your "out" is that no one called you.
The questions posed to you are in a public but anonymous forum, they are very simple questions in nature, so why not meet fire with fire in the same forum.
You don't step into a boxing ring and then say, ah wait a minute, can we have a dual with guns and no witnesses?
You've gotten twisted around here pretty good, tripped over your own words and back tracked a plenty.
But the phone number you gave has been forwarded to the various authorities, journalists and attorneys litigating the many aspects of this LPHI/LPI debacle. Maybe a deposition will be most enlightening.
By the way, most posters gave you the benefit of the doubt on your returns. But, given the data, you asked us to believe, you flipped a quarter and it landed on heads 80 times in a row. Certainly possible but highly improbable.
Good Luck, keep flipping that coin and wait for that call to come, maybe Special Agents Mulder and Scully will be on the other end.
Pamela, Bamabirth, man, woman, whatever or whoever you are (maybe Phil!!), you obviously have an agenda that is different from searching for the truth as you say. You really must think the people posting on this board are idiots. That is certainly true about some but not those you accuse. You need to come up with a better way of getting personal information than begging for phone calls!! It does make y'all look stupid. I suggest you try match.com.
There is nothing said by calling someone and being recorded for harassment purposes that could not be "said" through typing on this forum where everything is indelible. I knew he/she would never show a portfolio.
Earnings are going to be terrible again since there is no pre-announcement. The stock couldn't even be pumped before the monthly BUY-iNS paid report. The shareholders didn't get their money's worth from that service.