Post by
victor2009 on Jul 20, 2010 3:24pm
It's Cryin Time Again
Ray Charles made millions off Cryin Time - maybe Junior should add music to his lyrics and go for "It's Whinin Time Again". There are some similarities - Ray had the misfortune of a physical sight defect, and Junior refuses to see.
Junior is a proponent of the Hole in the Wallet Gang theory, as repetitively put forth by the puppeteer and his lackey, Rocky. These people want to worry shareholders, by suggesting that Jilin Jien invested millions in Liberty Mines, and don't care if the company they control makes money - JJ is just going to take LBE's Nickel. Rocky and the puppeteer may be making this ludicrous claim for some devious motive or just through ignorance. With Junior, I guess there's just one excuse, he claims to be a shareholder - so that rules out the devious motive option.
Junior may have finally realized that Jilin Jien isn't getting LBE nickel now, and won't be able to in the future. This would explain his bizarre theory of collusion and conspiracy, where LBE sells all their Nickel to Xstrata, and then Xstrata and Jilin Jien do some unexplained bit of bookkeeping and an exchange of metal! That's the kind of mental gymnastics that's usually only possible after dangerous exposure to mind bending chemicals.
Junior fails to explain how LBE as a company, and thereby its minority shareholders, would be hurt by selling Nickel to Xstrata at the market price available to the other nickel companies of the world. Heaven forbid that he explain the bookkeeping and metal exchange between Xstrata and Jilin Jien - it could set back international trade and accounting to the Dark Ages.
Junior gives us that revelation that "we" ( I take that to mean, small shareholders) do not control LBE or the LBE share price. Did any of "us" believe "we" did? Has any of "us" ever invested in a public company where "we" controlled the company or the share price, or were stupid enough to believe we should? What a grossly stupid comment! Junior is so full of himself, he's talking down to "us", like "we" didn't know the bare basics of public company share investment.
So after that world leader in stupid commentary, Junior follows up with the pronouncement that LBE has little chance of profit in the foreseeable future. He gives no rationale for this conclusion, and given his past record, will refuse to give any rationale. He is pompous enough to believe his inane opinions should go unchallenged. So there's no need to ask Junior to expose the flaw in his thinking - let's just have a look at the available facts. At fractional capacity, LBE was at cash flow break-even in the most recently reported quarter. This included covering debt and preferred share interest and dividend expenses. And this nimrod is suggesting the full mill capacity announced July 15, does not result in LBE showing a profit - not in the foreseeable future - right now? This guy is delusional. He's had the benefit of being advised by Press Release of June production tonnage, and he is unable to interpolate that with Q1 results to see that LBE must now be profitable.
The above two paragraphs are ample proof that this guy is incapable of rational thought. So there is no reason to give credence to his drivel on stock price forecasts, Jilin Jien intentions on taking LBE private, etc. They include the same flawed common sense, the same disregard for published policy guidance by LBE and Jilin Jien, and the same whining need to blame someone else for his personal investment decisions.
Something to consider when assessing Junior's pronouncements - with his professed knowledge about how this company should have proceeded, but didn't; and his professed knowledge that the ultimate result is further share price losses - why does he still say "we"? The answer is he either hasn't got the courage of his own convictions, he's not a shareholder (at least to any pertinent degree) and is therefore not a "we", or he's awfully damned stupid - or maybe a combination of all three. Or maybe he's just looking to make a friend - and he's sunk so low as to be wooing rocksolid. My guess is that Junior didn't "have the faith" and couldn't bring himself to average down his unfortunate timing in investing - and he bit the bullet and sold his position. Now he's taking the bashing route, to blame others for his investment woes, and in hope that "we" all fail like he did. This being the case, I think he's in for more disappointment, along with one more much needed blow to his ego.