Father Emmanuel joined the Invezz Podcast this week, sitting down with Dan Ashmore to discuss his background, short-selling, and inflation. After his prescient and highly publicized WWE short, Lemelson discusses why he believes “shorting is a terrible investment” despite his success as a short-seller. Lemelson also covers monetary policy, economic inequality, the Biden administration's student loan forgiveness plan, and much more.
Today World Wrestling Entertainment (NYSE: WWE) said in an SEC filing that its quarterly report for the period ending June 30, 2022, will be filed late, noting additional previously unrecorded payments made by its former CEO Vince McMahon amid the company's investigation of allegations of misconduct.
In the filing, the company said that since it had previously determined payments of $14.6M made by McMahon (between 2006 and 2022) were not appropriately recorded, its learned of two additional, improperly recorded payments totaling $5M (also made by McMahon), bringing the total to $19.6M in unrecorded expenses. The company also said it will revise previous financial statements for multiple years.
On June 17, 2022, World Wrestling Entertainment (NYSE: WWE) CEO Vince McMahon stepped away from his duties as the company's board investigated allegations of misconduct. According to The Wall Street Journal, McMahon, World Wrestling Entertainment Inc.’s longtime leader, agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity. On July 22, 2020, McMahon "retired" amid ongoing probes into the alleged misconduct.
Almost two years earlier, on January 31, 2020, Forbes reported that WWE had fired its co-presidents, including George Barrios.
About eight years earlier, on March 17, 2014, and again on April 8, 2014, Rev. Fr. Emmanuel Lemelson authored and published analysis that WWE was substantially overvalued and should be shorted. Lemelson's analysis was credited by USA Today, The Street, Seeking Alpha, and other major media outlets with an $800 million drop in the market capitalization of the stock between March 18 and April 20, 2014.
On May 16, 2014, following a $1.4 billion (63 percent) loss in WWE's market capitalization since Lemelson's initial March 17, 2014, short call, Lemelson announced that he had reversed his short position and was now long WWE stock. Simultaneously, Lemelson called for the replacement of WWE's executive management team or a sale of the company. This followed what Lemelson said was "a period of ongoing losses, execution failures, and material misstatements."
On July 25, 2022, CNBC reported that The company expects to conclude that its “internal control over financial reporting was not effective as a result of one or more material weaknesses.”
Read more history on Lemelson Capital management here
Disclosure: Lemelson Capital Management is short shares of WWE for its clients
In '14 @Lemelson called for the ouster of @VinceMcMahon amid what he called "material misstatements" $WWE now says there is $19.6M in unrecorded exp's between '06 + '22 made by McMahon + will restate several yrs of financials#CorpGov #WWE #Activistshortshttps://t.co/pXTVRqFJTA
— Lemelson Capital (@LemelsonCapital) August 10, 2022
On June 17, 2022, World Wrestling Entertainment (NYSE: WWE) CEO Vince McMahon stepped away from his duties as the company's board investigated allegations of misconduct. According to The Wall Street Journal, McMahon, World Wrestling Entertainment Inc.’s longtime leader, agreed to pay more than $12 million over the past 16 years to suppress allegations of sexual misconduct and infidelity. On July 22, 2020, McMahon "retired" amid ongoing probes into the alleged misconduct.
Almost two years earlier, on January 31, 2020, Forbes reported that WWE had fired its co-presidents, including George Barrios.
About eight years earlier, on March 17, 2014, and again on April 8, 2014, Rev. Fr. Emmanuel Lemelson authored and published analysis that WWE was substantially overvalued and should be shorted. Lemelson's analysis was credited by USA Today, The Street, Seeking Alpha, and other major media outlets with an $800 million drop in the market capitalization of the stock between March 18 and April 20, 2014.
On May 16, 2014, following a $1.4 billion (63 percent) loss in WWE's market capitalization since Lemelson's initial March 17, 2014, short call, Lemelson announced that he had reversed his short position and was now long WWE stock. Simultaneously, Lemelson called for the replacement of WWE's executive management team or a sale of the company. This followed what Lemelson said was "a period of ongoing losses, execution failures, and material misstatements."
On July 25, 2022, CNBC reported that The company expects to conclude that its “internal control over financial reporting was not effective as a result of one or more material weaknesses.”
Read the full history here: https://lemelsoncapital.com/history
Long time coming. In '14 @Lemelson said $WWE management had to go (in '20 co-presidents, including Barrios, were fired). Read history at https://t.co/9eaUFg9uaE https://t.co/q7k10Tlga4#WWE #VinceMcMahon
— Lemelson Capital (@LemelsonCapital) July 13, 2022
@Spus @Benzinga @SeekingAlpha @IKrietzberg @joe_palazzolo @JBFlint
Lemelson Capital Management To Host Q2 2022 Investor Conference Call On July 15, 2022
To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
Lemelson Capital Management To Host Q1 2022 Investor Conference Call On April 15, 2022
To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
January 2022 net returns of 49.12 percent
Shelburne, Vermont, February 10, 2022, (Access Newswire) —Lemelson Capital Management, LLC (LCM), today announced returns for January 2022.
In the month ending January 31, 2022, The Spruce Peak Fund LP's (SPF) performance was 49.12 percent net of all fees and expenses based on preliminary unaudited results.1 The S&P 500 TR (the "benchmark"), which includes the reinvestment of dividends, returned minus (-5.17) percent during the same period.
"We concluded January 2022 with better than average returns," said Fr. Emmanuel Lemelson, Chief Investment Officer, LCM “However, these returns are outliers, and Investors should not expect this sort of performance in the future," Lemelson concluded.
In 2021 Lemelson Capital Management posted combined returns of 56.05 percent net of all fees and expenses.2 The benchmark, S&P 500 TR returned 28.72 percent during the same period.
Lemelson Capital Management To Host January 2022 Investor Conference Call On February 11, 2022
To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
Short and long positions contribute to FYE 2021 combined1 net returns of 56 percent. Estimated MTD January 2022 net returns over 30 percent.2
Shelburne, Vermont, January 14, 2022, (Access Newswire) —Lemelson Capital Management, LLC (LCM), today announced financial results for FYE 2021. The firm posted combined net returns of 56.05 percent for FYE 2021, comparing favorably against the benchmark S&P 500 Total Return Index,3 which returned 28.72 percent during the same period.
As of January 13, 2022, estimated MTD net returns exceed 30 percent net of all fees and expenses.
"We concluded 2021 with a better than average rate of return and kicked off January 2022 with strong returns," said Fr. Emmanuel Lemelson, Chief Investment Officer. "Notably, Generac Holdings, Inc. (NYSE: GNRC), Revolve Group, Inc. (NYSE: RVLV) and Trex Company Inc (NYSE: TREX) contributed to our returns on the short side, while Berkshire Hathaway, Inc. (NYSE BRK.B) First American Financial (NYSE: FAF), and Progressive Insurance (NYSE: PGR) which we are long, performed well," Lemelson continued. "However, investors should not expect these sorts of returns in the future," Lemelson cautioned.
Lemelson Capital Management To Host FY 2021 Investor Conference Call On January 14, 2022
To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
Fr. Emmanuel Lemelson Comments on Jury Verdict
Jury Verdict Finds Fr. Emmanuel "Not Liable" For Key Allegations
Shelburne, Vermont, November 5, 2021 —The Rev. Emmanuel Lemelson, CIO of Lemelson Capital Management, commented on the jury verdict which found the firm and its CIO "Not Liable" for The Securities and Exchange Commissions (SEC) allegations of a scheme to defraud, violations of the Investment Advisors Act of 1940 or commentary regarding Ligand Pharmaceuticals (NASDAQ: LGND) insolvency. However, the jury did find Fr. Lemelson liable for some of the remaining challenged statements, including two comments made about a different company, Viking Therapeutics (NASDAQ: VKTX), which Lemelson did not trade in.
Addressing the ruling, Lemelson commented;
"We would like to thank the jury for their service, and verdict of "Not Liable" for the key allegations contained in the complaint. After seven years, we chose to go to trial on these unprecedented charges," Lemelson said. "We intend to appeal the remaining adverse parts of the verdict," Lemelson added
A Boston federal jury on Friday absolved a Greek Orthodox priest of fraud claims in a U.S. Securities and Exchange Commission suit alleging he launched a short-and-distort scheme through his hedge fund. https://t.co/rpvBDj5O9d
— Law360 (@Law360) November 5, 2021
____________________________________
The case is: SEC v. Lemelson et. al. [docket number 1:18-cv-11926]
About Lemelson Capital Management
Lemelson Capital Management, LLC is a private investment management firm focused on deep value and special situation investments. For more information, visit: https://www.lemelsoncapital.com or follow on Twitter @LemelsonCapital
About Rev. Fr. Emmanuel Lemelson
Rev. Fr. Emmanuel Lemelson is the Chief Investment Officer of Lemelson Capital Management, LLC, follow his work at www.amvona.com or on Twitter @Lemelson
For further information, please contact:
Lemelson Capital Management, LLC
Investor and Media Relations
Telephone: 1-802-332-3833
For more background see:
On July 17, 2018, Fr. Emmanuel released a letter he provided members of The U.S. House Committee on Oversight and Government Reform, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, further outlining extensive alleged abuses of accounting, pharmaceutical reimbursement and classification guidelines and regulations by Ligand Pharmaceuticals. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commission’s (SEC) failure to stop them.
Lemelson's full July 13, 2018 letter to Congress is available online here
His December 2016 letter to the U.S. Senate Special Committee on Aging, regarding the company, is available online here
Lemelson Capital Management To Host Q3 2021 Investor Conference Call On October 11, 2021
To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
Lemelson Capital Management To Host August 2021 Investor Conference Call On September 17, 2021
To receive a copy of an investor presentation or to submit questions in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
Lemelson Capital Management To Host July 2021 Investor Conference Call On August 20, 2021
To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
Lemelson Capital Management To Host 1H 2021 Investor Conference Call On July 16, 2021
To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.
Lemelson Capital Management To Host May 2021 Investor Conference Call On June 15, 2021
To receive a copy of an investor presentation in advance, please contact investor relations at This email address is being protected from spambots. You need JavaScript enabled to view it.
This call is for existing partners and prospective (qualified) investors only.
There are a limited number of lines available. This call is expected to be oversubscribed.
Call-in details will be provided upon registration approval.