Cal-Bay International Inc (CBYI)

[coin_in_fountain]

Here we go again. Roger is back to his habit of pre-announcing, trying to pump up the stock. He really wants you to believe that he is capable of doubling the property portfolio value, though at this point all he has done is DESTROY value.

I wonder who the new Cal-bay spokesman is that is mentioned in the article. You can bet the content comes straight from Roger.

Who wants to guess what the new website looks like. I bet he tries to make it look like a fortune 500 company, like he tried to do last time. Roger is all smoke and mirrors.

I don't know how long the Southern California real estate business is going to be in serious trouble, but I suspect it will take a few years to bounce back. Until then, I doubt if this property is worth anything more than what Roger paid for it.

It is interesting that Roger doesn't try to explain any of the bad stuff that has happened recently. That is however his management style. Hide the bad stuff and hype everything else.

Also notice that Roger like to try and divert your attention. As an investor you want to hear about the net asset value, the nature of the current legal problems, the reason for moving to pinks, the 3 week tenure of the new boss, etc. Roger however wants to talk about new opportunity. Focus on that, and you play right into his trap. I don't think he is an evil guy trying to take your money; he's just got a big ego and wants to do his best to turn this company around ON HIS TERMS. As I have said many times before, buying this stock is a gamble, not an investment. Roger is a master pumper - he knows how to appeal to everybody's inherent sense of greed.

My personal opinion is that this company might be worth something if Roger gave control to somebody else. Let Roger sit in the back room, making the deals, but make him answer to somebody else. I don't think that will ever happen however, because Roger is clearly a control freak, and would never let anybody else tell him what to do.

I sure am curious to know what REALY happened to this company during the past few months. We'll probably never know...