Monday, November 8, 2010

Casey Research, IKN and Bayfield Ventures

Your humble scribe fully recommends that you read this article published by Casey Research today. Please click through and read it all, but to give you a taste here's how it ends.
"We urge readers not to take seriously accusations made by anonymous internet bloggers and other questionable sources. If you have questions regarding any of our practices or policies, please contact us for the facts."

And when you're done, make sure that you also read the comment left under this post today as well. Hey, to save you the trouble here's what the commenter wrote (the link he left is the same one that's linked above, but best to leave the commenter's words verbatim methinks):

I emailed Casey research concerning your allegations. I recieved the following response.

In fact your allegations were not refuted and were in my view admitted too in this response. The excuse is given in point number two of the response that "all fees were publicly disclosed by the exchange". However as a subscriber I do not remember them telling me about this in the reco. The fact that they are recommending a stock that they are involved in and recieving renumeration for may not be illegal but it sure is greasy and slimy. I am cancelling all my subscriptions to casey research immediately. Otto I do not know if you have seen this response yet. If not can you take a look at it and respond.

I've nothing further to add to that commenter's words, but before we go, two points to make.

1) The reason this corner of cyberspace pulled up Louis James on that ANM.v thing isn't the straw man reason set up by Casey&Co in their note today. It was more because he told outright lies to try and cover his tracks with his boss, David Galland. Check the story here if you care.

2) Amazingly enough, Casey Research today totally forgets to enlighten us on Katusa's other PP cashmaker, the one that went horribly wrong for everyone except him and the $100k in cash he pocketed, CBM Asia (TCF.v). That story can be futher perused here. I wonder if Casey Research would be kind enough as to explain that one to its subscribers as well?

Oh lordy, it must really be pissing these guys off that their outright lies, unaccountable behaviour and moneymaking schemes are getting a bit of light shone on them. DYODD, dude.