Whistles,
First of all both PWDR and AQUI had great gains while he was IR for them. A company failing is IR's fault? Even you can see that is a stupid statement. Did you read his newsletter on BKUNA? He said it was very speculative and not for the faint of heart....and it went up 700%...if someone does not want to take profit (which he advised in his second newsletter) and the bank goes under that is their problem.
By the way you can only DD a company so much as IR as you are certainly not privy to visually seeing contracts and such.
Buy like heck when no one wants it, and sell when they can't get enough.