As I could not let go of the fantastic investment opportunity I was offered by Mark from Addison Management Group Asia I thought I would check their latest newsletter to learn more about their view of the financial markets.
On their site I find that the latest newsletter is from February 2009. A bit old but maybe I can learn something about their investment philosophy by reading it.
The newsletter was quite interesting so I check to see the name of the journalist / analyst providing such insight. No references. Let’s try a little experiment: I copy-pasted the first paragraph of the newsletter to Google search and guess what I found!
The same text, written by Manuel Schiffres, was published by Kiplinger on Dec 15th, 2008: http://www.kiplinger.com/columns/picks/archive/2008/pick1215.htm
So I did the same on the second section of Addison Management Group Asia February Newsletter.
That text was also published by Kiplinger, on Dec 16th 2008, written by Anne Kates Smith: http://www.kiplinger.com/columns/picks/archive/2008/pick1216.htm
I must have missed the source notation on the Addison Management Group Asia February Newsletter so I checked that again. None.
Strange, there are no references to neither Kiplinger nor the two journalists in the newsletter so I guess that can only mean one thing: Manuel and Anne both work for Addison Management Group Asia. But hang on, Manuels and Anne biographies on Kiplinger.com say that the are employed by Kiplinger. Well, well, maybe Addison Management Group Asia purchased the articles from Kiplinger and just forgot to mention the source. Shit happens!
Although Addison Management Group Asia may have forgot to give Manuels and Anne credit for their work I am sure Addison Management Group Asia has worked with many respectable private investors and institutions over the years. I turn to Google again to see if I can find any references on Addison Management Group Asia.
I find an interesting article about a court case in Florida involving Addison Management Group Inc., Addison Financial Group Inc., Addison Enterprise Inc., and a few more companies. According to the article three gentlemen used the above companies as vehicles to cheat their customers on about USD 7 million in fradulent forex options transactions back in 2005-2006.
Article: http://shareholdersfoundation.com/news/florida-federal-court-orders-nine-defendants-cftc-foreign-currency-forex-anti-fraud-action-pay-
Official Complaint: http://www.cftc.gov/stellent/groups/public/@lrenforcementactions/documents/legalpleading/libertymutualcomplaint.pdf
But, just because the names are similar and that EM International Enterprises is based in Florida as well one should not jump to conclusions.
As I said in the previous post. Addison Management Group Asia and EM International Enterprises are unfortunate in that their online image may cause potential clients to associate the companies with dubious business practices. How unfair isn’t that!
Nevertheless, looking forward to speak to Mark again in 90 days, ohh, just 88 days now! Great! Can’t wait!
I was contacted yesterday by CDG – Martin Bliss with the same story and he was happy to sell me 1200 shares at 4.45. I said I could buy a smaller quantity from my usual broker but he said this was part of a special institutional placement and that was the smallest value they could include. I agreed to go ahead subject to checking things out as i was not near a pc. He agreed and did a deal and got their compliance officer to call me back to confirm. I was told to expect an email confirmation. I have heard nothing so far…
And I was contacted 26th July by Brian archer from CDG (Centry Direct Group)trying to sell me the 1200 shares for $4.15
One word of advice, many different companies with the common nominator that they are all based in Asia have been trying to sell the EM international enterprises (EMIE) shares for around $4 since Feb 09 but nothing has happened with the shares. So forget the promising deal of making any money in 90 days or even being contacted again if you make the transaction.
Good luck and stay away from EMIE…