On October 16, 2014, Rev. Father Emmanuel Lemelson, Founder and President of The Lantern Foundation and Chief Investment Officer of Lemelson Capital Management, appeared on Benzinga's Pre-Market Prep show to discuss the recent sell-off in the market and long and short positions held by Lemelson Capital's top-performing Amvona Fund.
Activist Positions in World Wrestling Entertainment (WWE) and Kulicke and Soffa Industries (KLIC) Fuel Gains
Marlborough, MA, May 27, 2014—Lemelson Capital Management, LLC, a private investment management firm, today announced that The Amvona Fund, LP has again been ranked by Barron's as one of the world's top performing hedge funds for April 2014. It represents the third time in eight months that Barron's monthly performance rankings of global hedge funds has included The Amvona Fund among the world's top performers. This designation follows the magazine previously ranking the fund as the top performing hedge fund for July and October 2013.
Preface: Given the large number of articles available online that outline virtually every conceivable method of analyzing the quantitative factors of AAPL, the following aims instead to approach the subject from the more subjective, human aspect.
“Pain and foolishness lead to great bliss and complete knowledge, for Eternal Wisdom created nothing under the sun in vain.”
- Kahlil Gibran
Shares of Western Digital (WDC) were sold for investors accounts on August 13th, 2012 at $44. As of close of market on Friday Oct. 19th, the shares were being traded for a mere 34.88. A decline of a full $9.12 or almost 21% in barely 9 weeks. Is the value of the company really less than it was, when the shares recently traded at $44?
On May 17th around 2 p.m. a call came in from a friend, he said he had just received a call from his broker, who asked him “what he wanted to do about Facebook’s IPO”. The response was intricate and subtle;
“wouldn't touch it with a hundred foot pole”
The advice was to consider buying Western Digital (WDC) instead if he had to buy something. Sensing that the answer may have been a bit curt, the following email was sent shortly after the phone call:
On January 28th, 2010 we published one of our first articles. We're pretty sure we may have been one of the few, if not the only bloggers in the world (on that day) to pose the curious question “Would the Pope buy an iPad?”. At the time Amvona had not yet become a dedicated blog (it was still a commerce site with a blog as an afterthought) and the categories were not yet focused on the topics they are today.
Losing other people’s money isn’t as much fun as it sounds. We either bought, or gave directions to buy shares of CSCO on December 3rd, 2010 at $19.09 to folks who trust us enough to let us make some investing decisions for them; they’ve now lost 1.89% on their investment in just about two months. We have no intentions of selling; on Monday we'll be buying for their accounts.
Up until last Wednesday, February 9th, 2011 these folks were making about 15% on the same investment, since it had only been about two months, as we just pointed out, we were feeling pretty smart, and getting ready to do some bragging about our track record, when Thursday rolled around. Let’s just say it was “a day that will live in infamy” (hopefully nobody has used that line already).
Since we do a great deal of explaining how we make money for others, we thought this would be a good chance, actually the first, to explain how we also lose it.