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Re: BonelessCat post# 38352

Thursday, 09/23/2010 12:26:27 PM

Thursday, September 23, 2010 12:26:27 PM

Post# of 146240
I prefer to attack facts (or what is presented as factual) rather than people. I'm curious how you would address what the author says regarding Seaside and some of the folks that seem to be involved:

So, who are these Seaside 88 people, anyway? Well, as is often the case, there's a whole little constellation of related companies. There's your Seaside Analytics, your Seaside Capital Management, your Seaside Capital II, and so on. One person who figures prominently in all of them is William Ritger, who's been in the investment business for some years now. Here's a biography of him from one of the companies he's helped to found. http://www.greeneracorporation.com/management.htm

In fact, he's been in the business long enough for this article from the the New York Times ( http://www.nytimes.com/1993/05/23/business/the-nicest-investor-research-that-money-can-buy.html?pagewanted=1 ) to turn up. It refers to a former venture of his, Research Works, which seems to have issued favorable reports on obscure stocks - causing their prices to jump - but without making much of the fact that he was being paid by the companies involved to write those reports. One hopes that he is no longer in the business of promoting small stocks in this manner.

Another name that shows up when you search the Seaside family of investment partnerships is Denis O'Donnell. Looking over the EDGAR filings featuring his name, you find his ongoing relationship with a company called American Bio Medica, which I note has also been listed as one of the house favorites of a micro-cap "pump and dump" junk-fax operation. He's also been involved with Columbia Laboratories - now of New Jersey, but formerly of Hollywood, Florida, where (interestingly enough) they were mentioned in that same New York Times article as the subject of one of those paid-for investment reports back in the 1990s.


Is this all false and irrelevant?
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