Warning label: Rightside Advisors as of today, Thursday, are still continuing to solicit credit card payments for subscriptions and renewals for 47 newsletters, including Global Investing and Global Investing Pro.
Among the newsletters for which RSA is soliciting subscriptions is Dick Davis Digest, whose editor may not be aware of it. She has just asked to trade subscriptions with us. Read more »
I woke up in the night with a horrible thought: the reason Rightside did not deliver to my firm the subscription liability they had agreed to turn over was in order to fraudulently continue to use your credit cards to collect money for subscriptions to former Rightside publications. I have no evidence but given the cast of characters I described, it is possible. Please contact your credit card companies (or your bank if you have a standing bank order). If need be, change your account number.
Dorothy Parker Meets Bernard Madoff
By a letter (expensively) negotiated between our corporate counsel and Rightside Advisors, RSA agreed to transfer to my company the subscription liability, meaning the list of subscribers and the amounts they paid and the dates of their subscriptions running out. Then they failed to do so. They never agreed to transfer the money people had paid, by the way, as they had spent it. Read more »
How Business Is Done: Not a Harvard Biz School Case Study
This message is based on information I know and updates received from James Brown, the respected editor of Option Advisor. Today many of his staff quit because the payments for 2009 that had been promised them by Rightside Advisors did not arrive last Friday. This message is for the record.
For those of you that don't know, I sold the publications Global Investing and minutewoman.com to Rightside Advisors in Dec. 2006 for a percentage of revenue for 5 years. My company had a relationship with Rightside that went back.
I quote Ernie Monrad, the former head of the John Harvard Society and the chairman emeritus of Northeast Investors Trust. Mr. Monrad, a financial elder statesman, grew up during the Great Depression. So how does today compare with then?
“Other than the fact of an economic slowdown, the comparison is not valid,” he insists. The current (unofficial) “unemployment is probably 8 or 9 percent”. “Bear in mind that in 1933, 25 percent of the workforce was unemployed.”
My Last Gold Note
As promised, here is more about gold from Ron Coby, author of Discover the Upside of Down: Investment Strategies for Volatile Times (Wiley 2008). He thinks the time has come for buying junior gold stocks because “the big gold companies have raised a lot of money and can buy them.” He cited the IAM Gold bid for OZN assets and added “there will be a lot of Orezones”. Read more »
On golden pond
Barraged with e-mail after my publishing the letter from a reader in
The stock market, with its attention-deficit disorder, likes to focus on one thing at a time, and yesterday it was banking stocks. I happen to believe that without banks getting back on track, there will be no recovery. Gold is ultimately a sterile investment which doesn't add much to the economic outlook.
Golden fears part I
I received the following message from SH, a British reader based in Europe. (You can tell because he misspelled my name.) I am publishing it because it is of general interest. It is a worry about SPDR Streetrackers Gold or NYSE-GLD.
Golden fears part II
Vivian replied to our British reader in a Mediterranean country:
State Street Bank (STT) of