It can be a hazardous thing, at times, to write critically about a company with as zealous a group of shareholders and/or promoters as the one REFR enjoys.
Take for example the case of Manuel Asensio. An outspoken critic of companies to say the least, Asensio turned his wrath on REFR for about six months in 2001, writing a scathing series of articles (acceptance of site agreement may be required to view) about REFR and its activities at the name.
In the intervening years, two things have happened. One, Asensio was proven correct on virtually every score (apart from his $1 price target for the stock). And two, the shareholders of REFR have never forgiven him.
The enduring hatred that REFR's shareholders have for Asensio is partially incited by the website AsensioExposed.com, a website dedicated to destroying Asensio's reputation at all costs. They do this not by attempting to refute any of his criticisms of companies, but rather by making hay over his battles with the National Association of Securities Dealers (NASD, from which is derived the name of the Nasdaq Stock Exchange), leading to his eventual disbarrment by that association.
It is not my desire to get into the details of what Asensio has or has not done right now. But the fact the the posters to the REFR board still enthusiastically revile the man four years after he penned his warnings about REFR, at prices three or more times today's levels, only goes to show that this is a lot that does not have their collective head on straight.
Back in 2001 and 2002 there just might have been a sort of point to attacking Asensio, in order to discourage people from believing what he had to say about their favorite company. But with everything he has said about so many companies, including REFR, having been borne out, what seems to be left is nothing more than hatred for its own sake.
No comments:
Post a Comment