Is Left really so uninformed about controls within a bank like Wells Fargo that he thinks they could make a loan without checking the collateral? Really? So what he's really saying is Wells Fargo lacks financial controls.
Ubiquiti has now outperformed the Nasdaq for the week. Proof that CNBC and Andrew Left cannot turn the stock market in to a casino no matter how hard they try.
Motley fool article has to be the worst thought out article ever .. Wow useless words at its finest ..
I believe Left and CNBC should be investigated by SCC if these allegations prove to be wrong..He must have made a fortune as UBNT shares tanked and that reeks of insider trading to me. False allegations cause shareholders millions of dollars by these short seller and that's just BS.
* Ubiquiti Networks Inc (UBNT) - expects its revenues for its fiscal quarter ending September 30, 2017 to range between $240 million and $250 million - SEC filing * Ubiquiti Networks Inc (UBNT) - on September 18, board of directors of company approved an additional $100 million stock repurchase program * Ubiquiti Networks Inc (UBNT) - new repurchase program expires on September 30, 2018
They are saying that the real fraud is that their execution is unreal. I have personally dealt with UBNT and they are quick, nimble, do things fast, and the culture is full of very smart efficient driven people. On top of that there products are disruptive - they are great products, amazingly designed, and are cheaper than the competition.
Pera went to the same school as me, UCSD. He was well regarded for the Ubiquity startup. Pera is not a #$%$. He is just not some big business CEO type. The company has been run with minimal overhead which destroys profit. Anyone here who doesn't understand what overhead can do, has a lot to learn. Pera understands it and the insidious nature of overhead which becomes so engrained that it's invisible. Netgear and Cisco are typical corporate behemoths literally drowning in overhead. I worked for Boeing for a long time and there was only token effort to control overhead. Overhead budget pools were so large that I personally conducted multi million dollar wind tunnel tests and charged them off completely to overhead.The sad part of all of this is that corporate America is virtually all hoax and Pera and Ubiquity make them look bad so they're the villains
I will admit to getting scared out of my position by Left. (What if he was right?) But it's nice to see his followers getting beaten up here. Testimony to the folly of conducting a short raid on a company where the principal holds 70% of the stock.
On the bright side of things, this is more free advertising. All this publicity will make more people aware of the great products coming from Ubiquiti.
All of these lawyers announcing investigations. Lol
Berkshire taking UBNT private
Interesting remarks from Left's Wikipedia profile: Left's first job was with Universal Commodity Corp, a high-pressure commodities brokerage firm that hired salespeople to make cold calls and push "questionable investments." Left quit in March 1994, after 9 months with the company. When the National Futures Association sanctioned the firm in December 1998, Left, along with every other former employee, was sanctioned for three years along with being required to take an ethics-training course as part of the probe into the firm for making false statements to sell commodity futures contracts. The National Futures Association stated Mr. Left “made false and misleading statements to cheat, defraud or deceive a customer in violation of NFA compliance rules.” 
Speaking of not making any sense: Why no response from Pera or the board to any of the charges made by Citron. If the numbers speak for themselves, present them. Particularly interested how cash overseas can be larger than US cash when most of the sales are in US but the manufacturing costs are overseas. It is not obvious on its face, say something.
Why would someone who has engineered a worldwide fraud be working with multiple international law enforcement agencies including the FBI to recover stolen funny money. Robert is really good...and the legend grows.......Roberthood!
Discussion, critique and analysis of the potential impacts on equity, bond, commodity, capital and asset markets regarding the following: Last Time Out; Aesop's
The EOQ stuff the channel rush is on at Ubiquiti!
If you track Ubiquiti products on shopblt.com, you’d know that after a quiet first 75 days of the quarter, some product sales through Ingram are finally exploding. A good example is the #1 selling Ubiquiti product for the past 4 quarters - the UAP-AC-PRO. Our records indicate that Ingram sold 76,987 of these as singles last quarter. From 7/1 to 9/15 Ingram sold only 31,344 units but then 7,736 units were sold at the end of last week. Stay tuned.
Another place to watch Ubiquiti stuff product is at Streakwave.com. In February, Robert said “UAP-AC-HD . . . we’re really excited about this product. We think it’s the most important product we’ve probably ever released”. HD sales are not going well at Ingram but fortunately, Ubiquiti has convinced Streakwave to buy a boatload this quarter – despite averaging sell-thru of fewer than 75 units per week for the past 8 weeks. At this pace, the 3,367 units in stock today will take 44 weeks to burn off.
Takeaways/ questions for tomorrow’s investor call: o The natural demand for the UAP-AC-PRO access points are significantly lower than what sales indicate. Since, Ubiquiti takes revenue credit when they ship product to the channel, is revenue over stated? o The UAP-AC-HD appears to have no hope of being the success that Robert forecast in February. True? Why? o Some channel partners are clearly stuffed to the gills on access points and more. Why does Ubiquiti need 16+ weeks of inventory if distributors are stuffed? o Channel stuff requires incentives. Is this the reason for shrinking gross margins? or should we believe the pressure comes from aggressive pricing for products that are not shipping in volume?
The reason Pera doesn't go on CNBC is simple. Just do a search for:
Jim Cramer on Jon Stewart
Jim Cramer talks about how to manipulate a stock
Then go to the website Deep Capture, run by the CEO of Overstock, and learn about how CNBC is in cohoots with all these guys. How else do you think Left gets on CNBC?
Oh yeah, Patrick Byrne won a $5 million lawsuit against David Rocker a short who spouted nonsense like Andrew Left.
must be nice to go short and then use CNBC as a platform to bash a stock. nothing in their presentation points to anything new. the latest financials were audited by accredited accounting firms and with unqualified opinions. so, who do you believe - a firm with a stated short position or an impartial top accounting firm which stands to lose a tremendous amount of credibility if they miss a supposed fraud this large?
It's comical in the interview on CNBC. Left says "it's not plausible" that Ubiquiti is "beating the pants off Cisco". Well, if he had any credibility he could just go to the Dell'Oro Group, an independent tech market research firm, and but their research and thus discover that, indeed, Ubiquiti is beating the pants off Cisco. What motivation does Dell'Oro have to lie?
Anyone watch the CNBC video? Wopner and Cramer made it look like there was only one fraud and that just may be Left. I think his days are numbered with getting on CNBC. I kinda think Ubiquiti has grounds to sue him. Shrill midget.