NSB owns: PMFG: 75% of float APAGF: 70% of float GCOM: 45% GLPW: 30% Here's the problem, if that weren't bad enough - APAGF has fallen from over $80 to $35 in the last month. That's a loss of about $300 million - NSB total share holdings as of Dec 31 were $1400 million. Ouch. It's a quasi ponzi-scheme. The pm Bill Nicklin pumps up the price of his own stocks by cornering the float. Here is a list of his shares as of Dec 31. Short at will. http://finance.yahoo.com/quotes/sto...hm,rand,sds,gvp,celg,eei,amgn,pcp,xom,utl,ibm
On top of the loss on APAGF (an Argentine oil and gas company - great business to be in, right?) there's been a rougly $100 million loss in PMFG since Dec 31. The total loss on those two positions alone is about 30% of the portfolio. I really don't understand how the SEC let this guy, who's just an ordinary financial advisor, get away with this.
Elitetrader is totally dead. There have been two posts in this forum since I posted last afternoon. I don't think they've moved elsewhere . . . maybe just fewer people are trading.
So since I posted this yesterday (and nobody responded, boohoo) APAGF 04:00pm EDT 31.67 Down 3.04 Down 8.76% PMFG 04:00pm EDT 12.36 Down 0.44 Down 3.44% GCOM 04:00pm EDT 13.03 Down 0.59 Down 4.33% GLPW 04:00pm EDT 20.83 Down 0.83 Down 3.83% The beatings will continue until the stocks are destroyed.
It's because many people are moving money out of stocks and into bonds. Very few people among the general population are interested in stocks anymore.
These blogs are ridiculous. People like you try to scare investors in these stocks to sell their shares. Then you scap them up at a discounted price. Get a life, stop spewing your false knowledge on this forum and on the others I've seen your Handel on. Why else would you bash BN AND NSBADVISORS if not to take advantage of people selling their apco and pfmg stock? They are both solid companies and you know that. Just take a close look at these companies. Did you know that C.L. king is the brokerage that is putting e squeeze on NSB clients? Hopefully C.l. King will OSS the slew of upcoming lawsuits.
I'm sorry you lost money. I've been there myself and know that it sucks. I'd suggest you think carefully about who is responsible. Putting a majority of a funds assets in a handful of stocks, and then buying up the float, is dangerous.