Seeking Alpha

Arrow Hendrick's  Instablog

Arrow Hendrick
Send Message
<blockquote class="twitter-tweet" lang="en"><p><a href="http://t.co/m9S8xNR3C9">pic.twitter.com/m9S8xNR3C9</a></p>&mdash; banksy (@thereaIbanksy) <a... More
  • Michael Anderson Changes his Disclosure After Dumping Shares? 15 comments
    Nov 16, 2010 2:08 PM | about stocks: ONP
    Above is the original disclosure by Michael Anderson on his post "The Continued Upside of Orient Paper"

    Click HERE for the cached version.

    After publishing this article he admitted to selling his entire position in a Yahoo message board post found HERE where he states:
    "After a lot of deliberation and realization that there would be nothing in regards to the investigation at this time and that earnings were not going to be great for Q3 based on several things stated, I sold out at the end of last week."


    Subsequently, his disclosure was changed to read:
    "Disclosure: No position but by the end of the month I plan to get back in long-term."
     
    Notice too that in the last paragraph a sentence that began: 
     If there is any drop...

    Was changed to:
    There may be more of a downturn...
     
    Clearly, Michael's revisionist history is on full display.
     


    Disclosure: No Position
    Stocks: ONP
Back To Arrow Hendrick's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (15)
Track new comments
  • Michael Anderson
    , contributor
    Comments (319) | Send Message
     
    Ha ha ha. All I can do is laugh at that. I guess i should take it as a compliment that you dedicated a whole blog about me.
    16 Nov 2010, 06:38 PM Reply Like
  • Arrow Hendrick
    , contributor
    Comments (112) | Send Message
     
    Author’s reply » More classic Michael Anderson on display over at IHUB in the last few days:

     

    1/24 he is a TSTC Bull:

     

    "TSTC - Nice, does it hit $10 today? "
    investorshub.advfn.com...

     

    1/25 He claims he sold his entire TSTC position right before it crashed:

     

    "TSTC - Boy am i glad I stuck to my plan and sold out above 8.75."
    investorshub.advfn.com...

     

    How does this guy have any credibility?!?!?!
    26 Jan 2011, 04:00 AM Reply Like
  • Michael Anderson
    , contributor
    Comments (319) | Send Message
     
    I changed my position on the posts because my holdings obviously changed. My full plan was to hold long term and I still plan on getting back in for the long term, but I need to learn to become a better long term holder in companies that I believe in and hold a core position that I will not touch unless changes come about and add when it goes down. Throughout this time with ONP, there have been so many things occuring that an investor of ONP has had to continually change thought processes throughout. There obviously has not been a constant and a lot going on. Obviously I do not regret my decision to sell because it has a huge and very quick run up, but yes I should keep at least a small core position. Good luck to you and maybe you should focus on the company and quit looking so desperate.
    16 Nov 2010, 06:45 PM Reply Like
  • Arrow Hendrick
    , contributor
    Comments (112) | Send Message
     
    Author’s reply » So you see nothing wrong with authoring an article entitled "The Continued Upside of Orient Paper", declaring you're a "long-term" holder, and then selling every share you own of ONP the very next day?
    17 Nov 2010, 01:26 AM Reply Like
  • CSMhater
    , contributor
    Comments (387) | Send Message
     
    Sounds similar to Doug Estadt of Wall Street Media. Shortly after making his "surprise" visit to ONP's facilities, he sold half of his shares. Interesting timing. If Doug was so convinced of ONP's great business prospects, why sell? Same seems to apply here.
    17 Nov 2010, 10:00 AM Reply Like
  • Michael Anderson
    , contributor
    Comments (319) | Send Message
     
    The stock didnt skyrocket 70%. Why he sold, I dont know, but again the stock skyrocketed in a short period of time. The comparison is completely different
    17 Nov 2010, 10:54 AM Reply Like
  • Arrow Hendrick
    , contributor
    Comments (112) | Send Message
     
    Author’s reply » From the time you published your glowing post on Seeking Alpha, to the time you sold, ONP did NOT skyrocket 70%.

     

    The problem of course is that you wrote a positive article that likely led your readers to buy ONP. Unbeknownst to them, they were buying the shares you were selling (despite claiming you were a "long term" holder in the article).

     

    Only after the stock fell off a cliff do you admit to selling your entire position... and then change your disclaimer.

     

    Pathetic. 
    17 Nov 2010, 03:00 PM Reply Like
  • Michael Anderson
    , contributor
    Comments (319) | Send Message
     
    No, because ONP had an amazing run up and there has been a lot going with ONP and I was not expecting much in regards to the release of the investigation or earnings. Overall, my plan is still to continue to be a shareholder of ONP and end up having a position long term, so that has not changed as I still believe in ONP. I know people who have been holding for a long time were not going to sell into the weekend regardless of what anyone stated. My point of the artilce was for investors to look forward and not worry if there is a drop. It really does not make a difference if I sold or not as my feelings towards ONP are still very positive and I am going to get back into ONP and have a long term position.
    17 Nov 2010, 06:58 AM Reply Like
  • Matt Barrett
    , contributor
    Comments (2) | Send Message
     
    I am long ONP - bought more when it went down the other day, but I see nothing wrong with selling - in fact, I would have prior to the earnings release to buy back in for the bounce, but I had forgotten to look back at the Q2 reference to production capacity due to line upgrade, so it's my fault. I can hardly blame anyone for selling at a profit. Believing the company is going up longterm and also taking profit on short-term moves, as dramatic as they are, just makes sense.
    17 Nov 2010, 05:37 PM Reply Like
  • CSMhater
    , contributor
    Comments (387) | Send Message
     
    Matt Barrett:

     

    I agree there's nothing wrong with taking profit on a stock. However, you might be missing the point.
    Try and look at it this way:
    Let's say you have a stock broker who calls you up and tells about a stock you absolutely have to buy. He says to never mind the fact there are allegations of fraud concerning it; disregard the fact there are numerous lawsuits pending against the company; disregard the fact there are discrepancies in the companies own SEC 10-K filings; he JUST KNOWS this stock is going to take off soon. He's SO CONVINCED of this stock that he's going to buy some himself soon. Okay, so maybe you buy some. However, you later find out that your stock broker had actually owned it prior to letting you know about it but had already sold it. Honestly, what would your reaction be? Can you honestly say you would just shrug your shoulders and say, "Well,that's his/her prerogative"? I don't know about you, buy my reaction would be "WHAT THE F***?!?" And when asked about why the change in position, the response is "Well, I wasn't sure what the Q3 results would be like, so I sold out."
    Does that really sound like this person has a lot of confidence in the future outlook/performance of this company? Especially if this person is telling OTHERS TO NOT SELL THEIR SHARES?
    Maybe your not familiar with the term "hypocrisy". It definitely seems to apply here!
    19 Nov 2010, 02:22 PM Reply Like
  • Michael Anderson
    , contributor
    Comments (319) | Send Message
     
    You are funny
    19 Nov 2010, 03:45 PM Reply Like
  • CSMhater
    , contributor
    Comments (387) | Send Message
     
    M.A.:

     

    You think so? Really? Thanks! My friends are always telling me I should get up during amateur hour at my local comedy club. They keep telling me I'm funny, too! (Although I swear I can hear them muttering under their breath "looking" at the end. Oh, well.)

     

    Like I read somewhere, investing should be fun, but not a game. Good to know I've been able to keep it fun! Thanks for the encouragement!
    20 Nov 2010, 12:45 AM Reply Like
  • Michael Anderson
    , contributor
    Comments (319) | Send Message
     
    Ha ha ha ha. The results are out. Anything you say, means nothing. I have been properly touting the positivity of the results. Good luck to you.
    29 Nov 2010, 01:05 PM Reply Like
  • Business Economics Analyst
    , contributor
    Comments (2562) | Send Message
     
    Yes, there are and they provide clear proof of fraud. No audit of current operations because management REFUSED TO ALLOW THE AUDIT COMMITTEE ACCESS TO THE FACILITIES! This is unbelieveably outrageous, the board of directors should have immediately taken action.
    Here is the quote:
    "•No Formal Valuation Appraisals Performed on Currently Operating Production Lines or Inventory. The Audit Committee has requested access to the facilities for the conduct of formal, independent valuation appraisals of all currently operating production lines, together with a formal, independent appraisal of the Company's inventory. Such access, however, has not yet been granted. As a result, although the Audit Committee has found no evidence of irregularities, the Audit Committee cannot at this time corroborate the soundness of the carrying value of any such equipment or inventory, or come to any conclusion about the fair value of the original purchase price for any such equipment or inventory. The Audit Committee recommends that these appraisals be conducted as soon as practicable; however, it recognizes that the appraisals of the currently operating corrugating medium and printing paper lines may yield more reliable results if conducted following the installation of the new boilers."

     

    See finance.yahoo.com/news....
    29 Nov 2010, 01:12 PM Reply Like
  • Chris Wu
    , contributor
    Comments (255) | Send Message
     
    Who is Michael Anderson? An American version of the local Chinese RTO stock promoter?
    31 Jan 2011, 11:24 AM Reply Like
Full index of posts »
Latest Followers

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.