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Alex S. Gabor's  Instablog

Alex S. Gabor
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Alex S. Gabor is freelance investigative journalist, bank stock analyst, and financial consultant. He does not personally get paid from anyone for anything published here at Seeking Alpha.
My company:
Church of Infinitology
My blog:
You, Me and the SEC
My book:
Confessions of a Sex Crazed Money Man
View Alex S. Gabor's Instablogs on:
  • IBARC Investigates Alliance Bernstein Global Bond Fund (ANAGX, ANABX, ANABX, ANACX, ANAYX)
    The International Bank Activities Reform Commission (IBARC) has announced it is investigating anagx, anabx, anacx, anayx, effective January 31,2012, ticker symbols for the AllianceBernstein Global Bond Fund.

    According to Morningstar, "World bond portfolios invest 40% or more of their assets in foreign bonds. Some world bond portfolios follow a conservative approach, favoring high-quality bonds from developed markets. Others are more adventurous, and own some lower-quality bonds from developed or emerging markets. Some portfolios invest exclusively outside the U.S., while others regularly invest in both U.S. and non-U.S. bonds.

    IBARC questons the wisdom of ANAYX in investing ANAGX Funds in United States Treasuries when they have such a low yield while the Global Bond Fund itself has very high expense ratios.

    References and further due diligence:

    U.S. News and World Report

    The following funds are subject to class action lawsuits:

    AllianceBernstein Growth & Income Fund (Sym: CABDX, CBBDX, CBBCX)AllianceBernstein Health Care Fund (Sym: AHLAX, AHLBX, AHLCX)AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)AllianceBernstein Mid-Cap Growth (Sym: CHCAX, CHCBX, CHCCX)AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)AllianceBernstein Growth Fund (Sym: AGRFX, AGBBX, AGRCX)AllianceBernstein Select Investor Series Biotechnology Portfolio(Sym: ASBAX, AIBBX, ASBCX)AllianceBernstein Small CapValue Fund (Sym: ABASX, ABBSX, ABCSX)AllianceBernstein Premier Growth Fund (Sym: APGAX, APGBX APGCX)AllianceBernstein Select Investor Series Technology Portfolio(Sym AITAX, AITBX, AITCX)AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, ABVCX)AllianceBernstein Quasar Fund (Sym: QUASX, QUABX, QUACX)AllianceBernstein Technology Fund (Sym: ALTFX, ATEBX, ATECX)AllianceBernstein Select Investor Series Premier Portfolio(Sym: ASPAX, ASPBX, ASPCX)AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)AllianceBernstein Balanced Shares (Sym: CABNX, CABBX, CBACX)AllianceBernstein Disciplined Value Fund (Sym: ADGAX, ADGBX, ADGCX)AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)AllianceBernstein Real Estate Investment Fund (Sym: AREAX, AREBX, ARECX)AllianceBernstein Small Cap Value Fund (Sym: ABASX, ABBSX, ABCSX)AllianceBernstein Utility Income Fund (Sym: AUIAX, AUIBX, AUICX)AllianceBernstein Value Fund (Sym: ABVAX, ABVBX, AVBCX)AllianceBernstein Blended Style Series - U.S. Large Cap Portfolio(Sym: ABBAX, ABBAX, ABBCX)AllianceBernstein All-Asia Investment Fund (Sym: AALAX, AAABX, AAACX)AllianceBernstein Global Value Fund (Sym: ABAGX, ABBGX, ABCGX)AllianceBernstein Greater China '97 Fund (Sym: GCHAX, GCHBX, GCHCX)AllianceBernstein International Premier Growth Fund(Sym: AIPAX, AIPBX, AIPCX)AllianceBernstein International Value Fund (Sym: ABIAX, ABIBX, ABICX)AllianceBernstein Global Small Cap Fund (Sym: GSCAX, AGCBX, GSCCX)AllianceBernstein New Europe Fund (Sym: ANEAX, ANEBX, ANECX)AllianceBernstein Worldwide Privatization Fund (Sym: AWPAX, AWPBX, AWPCX)AllianceBernstein Select Investor Series Biotechnology Portfolio(Sym: ASBAX, AIBBX, ASBCX)AllianceBernstein Select Investor Series Premier Portfolio(Sym: ASPAX, ASPBX, ASPCX)AllianceBernstein Select Investor Series Technology Portfolio(Sym: AITAX, AITBX, AITCX)AllianceBernstein Americas Government Income Trust(Sym: ANAGX, ANABX, ANACX)AllianceBernstein Bond Fund Corporate Bond Portfolio(Sym: CBFAX, CBFBX, CBFCX)AllianceBernstein Bond Fund Quality Bond Portfolio(Sym: ABQUX, ABQBX, ABQCX)AllianceBernstein Bond Fund U.S. Government Portfolio(Sym: ABUSX, ABUBX ABUCX)AllianceBernstein Emerging Market Debt Fund (Sym: AGDAX, AGDBX, AGDCX)AllianceBernstein Global Strategic Income Trust (Sym: AGSAX, AGSBX, AGCCX)AllianceBernstein High Yield Fund (Sym: AHYAX, AHHBX, AHHCX)AllianceBernstein Multi-Market Strategy Trust (Sym: AMMSX, AMMBX, AMMCX)AllianceBernstein Short Duration (Sym: ADPAX, ADPBX, ADPCX)AllianceBernstein Intermediate California Muni Portfolio(Sym: AICBX, ACLBX, ACMCX)AllianceBernstein Intermediate Diversified Muni Portfolio(Sym: AIDAX, AIDBX, AIMCX)AllianceBernstein Intermediate New York Muni Portfolio(Sym: ANIAX, ANYBX, ANMCX)AllianceBernstein Muni Income Fund National Portfolio(Sym: ALTHX, ALTBX, ALNCX)AllianceBernstein Muni Income Fund Arizona Portfolio(Sym: AAZAX, AAZBX, AAZCX)AllianceBernstein Muni Income Fund California Portfolio(Sym: ALCAX, ALCBX, ACACX)AllianceBernstein Muni Income Fund Insured California Portfolio(Sym: BUICX, BUIBX, BUCCX)AllianceBernstein Muni Income Fund Insured National Portfolio(Sym: CABTX, CBBBX, CACCX)AllianceBernstein Muni Income Fund Florida Portfolio(Sym: AFLAX, AFLBX, AFLCX)AllianceBernstein Muni Income Fund Massachusetts Portfolio(Sym: AMAAX, AMABX)AllianceBernstein Muni Income Fund Michigan Portfolio(Sym: AMIAX, AMIBX, AMICX)AllianceBernstein Muni Income Fund Minnesota Portfolio(Sym: AMNAX, AMNBX, AMNCX)AllianceBernstein Muni Income Fund New Jersey Portfolio(Sym: ANJAX, ANJBX, ANJCX)AllianceBernstein Muni Income Fund New York Portfolio(Sym: ALNYX, ALNBX, ANYCX)AllianceBernstein Muni Income Fund Ohio Portfolio(Sym: AOHAX, AOHBX, AOHCX)AllianceBernstein Muni Income Fund Pennsylvania Portfolio(Sym: APAAX, APABX, APACX)AllianceBernstein Muni Income Fund Virginia Portfolio(Sym: AVAAX, AVABX, AVACX)
    Feb 27 11:51 AM | Link | Comment!
  • Despite BAC's Sickness The Stock Price Keeps Rising While Whistleblowers Flock To Short It.
    • The International Bank Activities Reform Commission has delegated a ton of information to the Nevada Bank Activities Reform Commission related to SEC Negligence related to allegations that Bank of America Branches in Nevada engaged in or allowed to be engaged in money laundering related to inflated real estate prices in Reno and Las Vegas, creating a hyper economic gambling haven for fraudsters and con artists in the real estate and casino industry.
    • Recently, Bank of America (NYSE:BAC) says it will stop selling new home loans to Fannie Mae (OTCQB:FNMA) and will deliver only loan modifications and refinancings to the GSE.
    • The reasons for this may be that Federal Government Officials at the highest levels of the United States Treasury, Comptroller of the Currency, (NASDAQ:OCC) the Secret Service, (SS) and other top level National Security Agency (NSA) Personnel are looking into the massive fraud in which BAC allegedly continues to engage in.
    • BofA (BAC) said it will accelerate its expansion in China, adding as many as five branches in the country over the next 2-3 years from its current three outlets in Shanghai, Beijing and Guangzhou.
    • This is possibly due to a shift in BAC's Global Strategic Plans to cut down business operations in America because of the too numerous to document legal problems which BAC is experiencing from its inheritance of the MERS mess.
    BofA is likely trying to warm up to the Government of China for fear that rumors of the China Foundation advising government officials are seeking to ban BAC from doing further business in China due to the negligence and involvement it continues to have in the fraudelent mortgage industry planet wide.
    • Single family RE in Daytona Beach has reached Depression levels, writes Robert Sinn.
    • Other writers and instabloggers on the subject of BAC say, "With the cost of capital less than 5%, well, you do the math. Bank of America (BAC) owns at least 1/3 of single-family RE there, and may not have taken the marks yet - something to think about the next time someone says BofA is cheap on a price/book basis.
    • Unrelated to the IBARC/NBARC pending lawsuit, Ireland's Sealink investment firm sues a rack of big banks (including JPM, C, BAC, RBS, CS and more) for $948.8M in damages over residential mortgage-backed securities, charging material misrepresentation and omissions in underwriting standards.

    The China Foundation has been in talks with Chinese Officials over the future disposition of more than $130 Billion in Treasury Securities which it claims it has parked on behalf of certain Government Officials there.

    Other Officials at the China Foundation have refused to comment on the talks saying they are confidential and information about them has been illegally and falsely leaked.

    • BofA (BAC) and Barclays (BAC) grant Equity Residential (NYSE:EQR) more time to submit a bid for their 26.5% stake in Archstone, but at a higher minimum price of $1.485B. EQR will have until April 19 to bid, and may use the extra time to prepare an offer for all of Archstone; the remaining stake is held by Lehman. (previously)
    • It is not clear why BAC even got involved with EQR, but as the mass of foreclosures that are hitting the market comes to fruition during the remainder of 2012 (29% of all sales are now REO foreclosed properties) the value of the stake will continue to plummet to fire sale levels.
    • The financial services industry may be seeing massive job cuts, but leading brokerage houses are still aggressively recruiting brokers working for rivals.
    • Merrill Lynch (BAC) is offering top brokers from rival firms upfront cash payments equal to 150% of the fees and commissions they generated over the prior 12 months, while UBS has raised its payment to 180%.
    • The fools at Seeking Alpha are saying, "It's not too late to buy Bank of America (BAC +1.7%), Second Curve's Thomas Brown surmises, "not because they're going to become a great banking company, but because the valuation of the company is just too low relative to even their weak earning potential... If we [can] just get it back to tangible book value, we've had a pretty good investment.""

    Just like Fannie Mae and Freddie Mac before their meltdown and nationalisation by the Treasury Department, fools ran up the stock prices of both firms way beyond their real book value, just before they both became penny stocks.

    To think that BAC will hit $30 is an insane assumption.

    "If I were George Soros I would short another two billion shares and cover it when it hits five bucks, then naked short another billions shares from the Cayman Islands." So sayeth and reflexively postulates the worlds first trillionaire, Gabor S. Acs.

    BAC IN FOCUSmore »


    BAC NEWSmore »



    Earlier BAC transcripts


    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: Seeking Alpha has a lot of good coverage on BAC.

    Feb 23 6:50 PM | Link | Comment!
  • Nevada Organizes Bank Activities Reform Commission And Seeks Lawyers In Reno To Sue US Securities Commission For Fraud
    The infiniite Freedom Foundations of Nevada State, backers and supporters of the Nevada Bank Acitvies Reform Commission announced today that they are seeking to hire a lawyer in Reno to file a Fraud Suit against the United States Securities and Exchange Commission.

    Following is a list of attorneys who are being sought out.

    Shelly Traleen O'Neill

    Reno, NV 89501

    Mark Douglas Wray

    608 Lander St

    Broker Fraud, Business Law, Collections, Real Estate Law

      Additional Broker Fraud Lawyers from Nevada

    Howard Roitman Howard RoitmanLas Vegas Lawyer Howard Roitman


    Animal / Dog Law, Arbitration and Mediation, Broker Fraud, Car Accidents, Estate Planning More >>

    8921 W Sahara Ave, Suite B
    Las Vegas, NV 89117

    • Save
    • Show Preview

    Neil B. Shouse

    Neil B. Shouse


    Animal / Dog Law, Appeals / Appellate, Broker Fraud, Business Law, Criminal Law More >>

    2300 West Sahara Avenue, Suite 800
    Las Vegas, NV 89102

    Angela White


    Appeals / Appellate, Broker Fraud, Criminal Law, Education Law, Real Estate Law

    2325 Windmill
    LAS VEGAS, NV 89193

    • Save
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    Kristina Wildeveld


    Appeals / Appellate, Broker Fraud, Criminal Law, Juvenile Law

    726 Casino Center Blvd, Suite 211
    Las Vegas, NV 89101

    • Save
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    Alex De Castroverde

    Alex De Castroverde


    Animal / Dog Law, Appeals / Appellate, Broker Fraud, Business Law, Criminal Law More >>

    1149 S. Maryland Parkway
    Las Vegas, NV 89104

    • Save
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    John Scott MacDonald


    • View Profile

    Broker Fraud, Business Law, Consumer Law, Elder Law, Estate Planning More >>

    David Liebrader


    • View Profile

    Broker Fraud

    601 S Rancho Dr

    Feb 23 6:18 PM | Link | Comment!
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