Saturday, February 28, 2009

Signs of the Apocalypse

Last October, I wrote a post entitled "The Best Investments You Shouldn't Make". Among all the longs was a short of a fraudulent company called ZAP, inc. I've been following this scam for five years. I don't know why I was so infatuated with it, but I was. They first got on my radar when they lied about having an exclusive agreement to bring Smart Cars to the U.S. This was followed by a statement by Daimler which basically said "who the hell are these guys and what are they talking about? We've never talked to them." For five years now they've been the company I love to hate, but it looks like the day of reckoning is finally, finally upon them. At 12 cents per share, the market is so bad it finally even got ZAP!

In my post, I wrote "They'll get theirs in the end...but it won't be while I'm shorting the stock. I wouldn't touch this thing with a ten-foot pole." I'm happy to say the end is near. With any luck we might even see a few top level executives on the evening news moving into their new 8 x 8 ft homes on in the next year.

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