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The Tenacious Trader

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  • Out Come The Big Guns: Atlantic Power Investigations Launched [View article]
    Hello All!

    Thanks so much for all of the great feedback. There are certainly some wonderfully varied perspectives in the mix!

    I am sorry, Jan, that you feel I was “advertising” the law firms mentioned in the piece; I can assure you that was not my intention. I was contacted by a representative of the firm mentioned in the piece after responding to an e-mail message I received through my broker requesting information on the matter.

    As a trader/investor who has been doing this for a number of years now, I can promise you that I have taken my share of losses without seeking legal recourse. In the case of AT, however, I strongly feel that there were a number of investors who were seriously harmed by the actions/inactions of the company’s officers and/or directors.

    On a personal level, I will say that I have grown quite weary of the corporate misconduct and malfeasance I have witnessed over the years — especially since the onset of the Great Recession — and, at this point in time, I really want to see justice done. There are a vast number of people out there who are far less sophisticated and well educated than you who put all of their faith, trust and retirement monies into this company, hoping and praying that the dividend payments would sustain them through their “golden years.” I would really love to see them made whole.

    I certainly hope that any legal actions taken by me or any other party will not cause irreparable harm to the company, but I do wish to see those who behaved unprofessionally, irresponsibly and/or illegally held accountable for their behavior.

    Best wishes to everyone!
    The Tenacious Trader
    Mar 7, 2013. 07:21 PM | 9 Likes Like |Link to Comment
  • CCPT III: To Sell Or Not To Sell [View article]
    Hello Philipsonh!

    Thanks for reading my article, and thanks much for the very thoughtful comments.

    Regarding your observations surrounding a shareholders vote, my comment was directed, primarily, at the principal shareholder, Mr. Cole. Given that he, indirectly, owns, 100% of the company’s voting interests, other shareholders are not necessarily entitled to a vote (i.e. unless there is some type of provision in the company’s articles).

    Since legal battles often produce very negative outcomes, it would certainly behoove all interested parties to come to some type of agreement, rather than allowing the matter to reach the courts.

    Best wishes,
    Apr 2, 2013. 03:42 PM | 3 Likes Like |Link to Comment
  • Out Come The Big Guns: Atlantic Power Investigations Launched [View article]
    Good morning, everyone!

    I value all of your comments, opinions and suggestions, and I very much appreciate the time you put forth to send them to me.

    I have decided not to pursue the role as Lead Plaintiff in a case against AT. Though I believe that, ultimately, the company will be sued, I do not wish to be the one who will be held accountable for the outcome — the responsibility is just too great an undertaking for me at this point in my life.

    I realize that there are a vast number of people who have been harmed by the recent developments surrounding the decrease in AT’s dividend payment, and the plunge in its stock price, and I truly hope and pray that an equitable resolution will be found for all of those who invested in the company.

    Best wishes,
    The Tenacious Trader
    Mar 8, 2013. 10:08 AM | 3 Likes Like |Link to Comment
  • Elbit And Modern Warfare: The New Normal [View article]
    wdjax0n, Thanks much for your kind words of support.

    North Pack, Great observation. The U.S. is one of Elbit's largest customers and the "cutbacks" have had, and will continue to have, an impact on Elbit's bottom line; however, I do not believe the reductions in defense spending will last for long.

    I had included commentary on the reasons why I felt the reductions would not last, but SA's editors felt (and rightfully so) that the commentary was too politically biased, so it was edited out of the article.

    Thus, it is suffice to say that I cannot predict, with any certainty, how long the reductions will last, but my personal observations lead me to believe that, presently, global social structures have become too unstable to ignore for too long the threats that have been created by the instability.

    And now that have totally depressed the two of us -- not to mention anyone else who reads this commentary -- let's just say that I hope I am wrong. In the meantime, Elbit may be a company worth watching.

    Good luck and best wishes,
    May 4, 2013. 07:06 PM | 2 Likes Like |Link to Comment
  • 3-D: A Technology That Will Affect More Than Just Your Television [View article]
    Hello Everyone!

    After learning of the mathematical error in my article, I went back and reread it to make certain there were no other mistakes. Unfortunately, I detected several grammatical errors which should be corrected shortly.

    SA’s composition application is a basic text editor that does not allow for the upload of downloadable files (e.g. PDF’s, Excel spreadsheets etc.), thus, in an effort to offer my readers a little bit more, I have been composing my articles with Windows Live Writer and then uploading them to my site before transferring them over to SA’s site. It would appear, however, that the corrections I made to the article did not transfer over to SA’s site. Presently, I am working on a fix and I will promise to do my very best to ensure there will be no mistakes going forward.

    As always, I appreciate the time that you take to read my articles, and I very much appreciate the feedback you provide.

    Best wishes,
    May 1, 2013. 09:05 AM | 2 Likes Like |Link to Comment
  • Dover: As Big And As Broad As The Name Implies [View article]
    Free cash flow showed a 21.1% increase over last year (i.e. 2011); so I am uncertain as to the negative trend to which you refer. The data below were taken from Morningstar's Web site for fiscal years 2003 to 2012. As can be seen, DOV's free cash flow has shown an increase over the last three years.

    Free Cash Flow USD Mil (2003 - 2012): 497 490 524 700 701 827 676 764 806 976

    I hope this helps!

    Best wishes,
    Apr 7, 2013. 10:12 AM | 1 Like Like |Link to Comment
  • Out Come The Big Guns: Atlantic Power Investigations Launched [View article]
    Good day, everyone!

    I must say that I very much enjoy the dialogue my article generated. Though I still believe in human kindness and the inherent goodness in people, I must admit that the older I get, and the more wrongdoing I witness, the more skeptical I become.

    Though there are attorneys who truly deserve the derogatory titles bestowed on them, I do not believe all are bad. Personally, I believe that there are good and bad people in all walks of life, in every corner of the world.

    Though the case against AT will, most likely, never become the next Erin Brockovich-like movie, it has become painfully obvious to me that my article, and it’s title, have certainly drawn attention to the subject of corporate governance (or, more specifically, the lack thereof) – and that’s a good thing.

    Presently, I am putting the finishing touches on an article that discusses the merits behind holding corporate executives’ feet to the fire when blatant corporate misconduct can be shown to exist.

    In the case against AT, I had the opportunity to read the complaint against the organization in advance, and I was surprised by some of the things I read. There were situations about which I was unaware – situations that, I’m fairly certain, escaped the eyes of some of the most careful corporate onlookers.

    I would encourage everyone to request copies of the various complaints that are, and will be, filled against the company; and I would advise that you reserve judgment against others until such time that you have had an opportunity to review all of the information.

    Also, look for my latest Instablog article and be certain to provide me with your thoughts and feelings. Remember: L'esprit collectif est beaucoup plus puissante que celle de l'individu.
    Mar 13, 2013. 04:40 PM | 1 Like Like |Link to Comment
  • CAN SLIM: A Sniper's Approach To Investing In Stocks [View instapost]
    Thanks much, James!
    Sep 29, 2013. 10:42 AM | Likes Like |Link to Comment
  • PetSmart: Small Whiff But A Lot Of Woof, Woof [View article]
    Thanks much for the kind words, BR, they are very much appreciated.

    Best wishes,
    Aug 5, 2013. 07:37 AM | Likes Like |Link to Comment
  • 3-D: A Technology That Will Affect More Than Just Your Television [View article]
    Thank you for the feedback, the additional information and your kind words, sidphx -- they are very much appreciated.

    Best wishes,
    Jun 18, 2013. 05:20 PM | Likes Like |Link to Comment
  • United Technologies Corporation: A Marathon Winner For The Ages [View article]
    Dear Traveler,

    Please tell Meiling I said: "Congratulations!" There is no greater investment than an education that an individual can make in him/herself.

    Best wishes for a wonderful anniversary,
    May 12, 2013. 07:22 PM | Likes Like |Link to Comment
  • Credit Acceptance Corp. And CAN SLIM: Together They Equal Fat Profits [View article]
    Great question, Aristofanis. The best answer I can offer is my personal impression, which is based on my own, personal observations (unfortunately, no empirical data here).

    The Great Recession put a great number of people out of work, and it forced an equally large number of people out of their homes. Next to a person’s home, their next largest investment (for most people) is their vehicle -- it is also one of the most necessary investments in this country.

    Unlike European countries, which have wonderful mass transit systems, Americans rely heavily on the automobile to get them to and fro (especially given our penchant for living in the suburbs). For those who lost their jobs, the only alternatives available to them, (i.e. to secure the funds necessary to purchase a reliable vehicle) were the services offered by companies like CACC. Given that they, most likely, did not qualify for conventional forms of lending, many had no other choice but to turn to a company like CACC.

    With regard to determining a given consumer’s credit worthiness, for many companies like CACC it comes down to a judgment call, and the company’s assessment of its ability to reclaim the automobile if the consumer defaults on the loan. I would suspect that is the reason for the poor BBB ratings -- miss a payment and the consumer will quickly find his or her vehicle missing.

    Hope this helps.

    Best wishes,
    May 12, 2013. 07:12 PM | Likes Like |Link to Comment
  • United Technologies Corporation: A Marathon Winner For The Ages [View article]
    I feel your pain, Traveler. :)

    Best wishes,

    P.S. Congratulations on your fairly recent wedding. :)
    May 12, 2013. 09:55 AM | Likes Like |Link to Comment
  • 3-D: A Technology That Will Affect More Than Just Your Television [View article]
    Thanks much, Juan!

    I accidentally transposed the numbers in my initial calculation and I neglected to correct the figure in my final draft of the article. I will be certain to make the correction.

    Thanks again.

    Best wishes,
    Apr 30, 2013. 04:01 PM | Likes Like |Link to Comment
  • 3-D: A Technology That Will Affect More Than Just Your Television [View article]
    Hello Tango!

    Thanks much for reading my article, and for the very thoughtful commentary.

    I had considered the metal content in conventional ammunition and did not necessarily mean to allude to “guns” alone when I mentioned "undetectable weaponry" in the article. I was actually thinking along the lines of nonmetallic knives, crossbows and weapons that propel projectiles that are made from materials which contain no metal content, and which are not propelled via an explosive charge.

    Regarding the possibility of making weapons with a "lathe/mill" you are correct -- undocumented weapons can be made from such processes. However, an individual would need to have access to such machinery, and to the materials, necessary to produce a weapon (not to mention the skill-sets required to produce such specialized products) -- not an easy task for most people. Thus, it would seem that 3-D printing technology makes the task of producing usable weaponry that much easier for those who do not possess any of the aforementioned.

    Finally, with regard to modern-day scanners, the concern here is that individuals can produce components that, alone, may appear innocuous, but when assembled may actually be very dangerous. Here, too, unprincipled individuals can produce such items through other means; however, 3-D printing would make the task that much easier.

    Best wishes,
    Apr 29, 2013. 06:46 PM | Likes Like |Link to Comment