Someday Cyto shareholders may expect a letter from Cassidy such as this:
Next up, Archeus Capital Management LLC’s letter to investors (10/30/2006):
The first three paragraphs were standard “fluff”, but the next paragraph reads: “However, one obstacle we have not been able to overcome has been the negative sentiment which has snowballed as a result of our third-party administrator’s failure to properly maintain the books and records of our funds. This failure, and their subsequent inability to property re-reconcile the funds’ records, led to a series of investor withdraws from which we have not been able to recover”.
Let’s blame everyone but ourselves! Don’t funds keep records too? Too much golfing, fine dining at the Masa, and 5th Ave shopping, I bet. I wonder why the administrator wasn’t fired when problems first arose?
No “sorry”, but two paragraphs worth of “thank you this and thank you that”
