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squeeze
We are always working on new and innovative products here at The Davian Letter (TDL). Gravity marked the single biggest launch of any product we have ever had. That reaffrimed that people would like to run small niche trading styles inside their total portfolio. For example, I can not short the same stocks in my personal account (PA), that we are short of in either fund.
GAAP-uccino
I love David Einhorn and his ability to do very extensive research on companies and remain in the position for extended period of times. He is lethal when it comes to short selling companies. His latest target, GMCR, is a company I have disliked for a couple of years. There has always been something not right about the accounting at this company and Einhorn really puts a finger on it.
S1 Fun: VALV
Better get Geico
We do not presently maintain product liability insurance, and our property and equipment insurance does not cover the full value of our property and equipment, which leaves us with exposure in the event of loss or damage to our properties or claims filed against us.
HUGE Red Flag - no reserve account
One Misleading Coffee Company
I have watched Jammin Java (ticker JAMN) from the sidelines rocket from pennies a share to $6 and is now slowly drifting back to reality. As a huge fan of small organic coffee brands, I was curious about the company's story and stock price. I recently visited http://www.jamminjavacoffee.com/ and watched a small video clip on the website and I really liked what I had watched. Here was the son of Bob Marley taking a stance to produce ONLY organic coffee and to make a difference, which is a just cause many organic farmers pursue.
Majesco Entertainment BLOWS Out Earnings
In this day and age it never fails to amaze me at how bad/wrong information is spread around the internet. In this regard the complete lack of professionalism these days is simply awe inspiring. I blame this on "social media," message boards, etc., as these mediums have given a soap box to every smidiot with an internet connection.
Another Hero From the Midwest
I never had the honor of meeting Gunnery Sergeant Robert Gilbert, but I wish I had. He like many young men and young women of the Midwest feel a strong urge to serve our country and uphold the freedoms many of us take for granted. I always wonder why the Midwest produces so many young people that serve in the armed forces. Many times I think it is because we are second or third generation immigrants and many of our grandparents served in “green card brigades.” Mine did.
Strong Arm Chinese Crookery
At The Davian Letter we are HUGE fans of good old fashioned Chinese Crookery. While certain individuals were discussing how much money they were making in shady Chinese companies the last few years, we stayed on the sidelines and waited in the shadows, but openly warned everyone to stay the F*&K AWAY!
Can't Make Up This Kind of Chinese Crookery
On 04.19.2011 Duoyuan Global Water (DGW) was halted for news pending and has not opened up since. The Davian Letter, especially Dasan, has been openly critical of the company, it's accounting practices, and financial statements. We opened up a short position in DGW last November when it was trading in the mid-12s and after we had conducted several weeks of research.
TDL/DCap AK Fest 2.0
It is hard to believe that it has already been a year since the first annual TDL/DCap AK fest. This is a little event we put on in August each year showing appreciation for our clients, colleagues, employees, families, and friends. Last year we hosted cocktail hour, attended the Bridgestone Invitational at Firestone country club followed by dinner and an after party. This will be the same format for this year, except we have a corporate tent for each day of the tournament that includes food and drinks!
Always Down for Some Good Chinese Crookery
I wish this company was not trading at $3.50 or else I would short them. GFRE has been on our Chinese Crookery database for sometime, but like I said, they are trading under $5 and that is a level I try not to short anything under. Anyway, a good note on this "company" and the BS they are trying to pull. US investors will have little to no recourse due to the convoluted corporate structure this and most other Chinese Crookeries utilize.
Time for Greek Bonds?
I have been watching the Greece debt market as I find what is happening very interesting. There has not been word yet as to what the actual plan is… this time around. It is obvious that the last round of “Greek bailouts” was a VERY short term Band-Aid and that Band-Aid has already come off!
Michael Burry at Vanderbilt
Michael Burry has emerged from the "Great Recession" as one of the rockstar hedge fund managers that made loads of money due to collapsing housing prices. He has been all over the media, but he recently talked at Vanderbilt University about the financial crisis. I have embedded the video of him below. Enjoy!
Busy Week for Chinese Crookery
What a busy week for Chinese "Crookery!" Late Friday we learned that shares of FUQI will be delisted and yesterday after the close we learned that shares of DYP will be delisted.
One of the Last Few
One of the last remaining analysts that actually cover DGW has FINALLY downgraded it from market outperform to market perform. Dayal from Rodman & Renshaw states that the downgrade comes from uncertainty around the company's pending internal review. This has been an issue since last year when the stock was trading around $13. This analyst would have saved his clients a near 50% drop had it been downgraded at the first signs.
DGW Raises More Questions
For those of you that had the absolute pleasure of sitting on the DGW earnings call, I am sure you have many more questions than answers, I know I do. Below is a list of my notes, I mean questions, from the call.
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