90 days has passed since that call from Mark Sherman of Addison Management Group Asia (see part 1) promising me a profit
of USD 26 425 in 90 days had I only taken him up on his offer to buy 10 000 shares of EM International Enterprises (EMIE.PK) from Addison Management Group Asia.

On Oct 12th 2009, the day I received this fantastic offer, EMIE.PK closed at USD 4.25 but Addison Management Group Asia offered me the shares for USD 4.00 since they had institutional buying power and passed the discount on to their customers. This discount story alone should make all your scam alarms go off – there is no not such thing as a “free lunch”.

Since then, there has been pretty much no movement at all in EMIE.PK (not before Oct 12th either for that matter) and the trading volume has been just under 2000 shares spread over 5 days in the 90 day period. The current close is USD 4.50. Check it here.

The small trading volume of EMIE.PK is also a warning sign that the offer is strange. I was offered 10 ooo shares, that equals the total trading volume in the period from March 7th 2008 to Oct 12th 2009.

Looks like Addison Management Group Asia was unlike with this one – EMIE.PK didn’t live up the expectations. I suggest that Addison Management Group Asia fire their analysts and secure the services of chimpanzee Lusha instead – she’s likely to pick better stocks and at a fraction of the cost – how much is a banana in India nowadays?

One person forwarded me an email he had received from “his” Senior Account Executive at Addison Management Group Asia. The email address is mail@addisonmanagementgroupasia.com (can someone teach their IT department how to create personal email accounts?). I ran an email header tracer on the email and it originates from GoDaddy servers in Arizona. No India connection on that one as far as I can tell.

Finally, the domain name (addisonmanagementgroupasia.com) expires on Feb 3rd 2010, registered for only one year.
What’s your guess, will Addison Management Group Asia renew it and continue their “successful” business?