Re: FS In Good Company

  • From: "Rick Harmon" <rharmon@xxxxxxxxxxxxxxxxxxx>
  • To: <jfw@xxxxxxxxxxxxx>
  • Date: Wed, 16 May 2007 13:15:04 -0400

Here is what I know so far:


From: Ray Forrett Jr.

Well, freedomscientific may not be too willing to discuss this beyond their
podcast; and, they may choose to call it an investment; but, let's be honest
here.  It's a sale and that's the bottom line and they're trying to sweep it
under the rug so to speak and that's the bottom line.  Since they're a
private company, financial information cannot be disclosed.  I understand
that; but, one doesn't have to be dishonest in the process.  As for the
foreign concern, this is what I found out:

"Wafra Investment Advisory Group, Inc., a U.S. registered investment
adviser, is beneficially owned by The Public Institution for Social Security
of Kuwait.
The Public Institution for Social Security is an autonomous agency
controlled by the State of Kuwait.

. . . . . . . . . . . . . . . . . . . . . . . . . . .

Founded in 1985, Wafra is an investment management company offering an
extensive range of investment services including portfolio securities
management,
direct equity, real estate and other structured products management. Wafra
also manages seven alternative investment products and has a private asset
management
division. Wafra, together with its affiliates, currently has committed and
under management, assets in excess of $4.0 billion*.

. . . . . . . . . . . . . . . . . . . . . . . . . . .

Originally founded to manage funds in the United States for financial
institutions of Kuwait and other Gulf states, it has broadened its mission
and now
serves over 30 institutional and private clients from around the world.

. . . . . . . . . . . . . . . . . . . . . . . . . . .

It has a staff of over 55, including 30 senior-level professionals."
This came from:
http://tinyurl.com/354flc
I must say that a look at Wafra's web site does not inspire confidence.
It's not what you would call very navigation friendly.  And another thing
too.  How come all the secrecy.  Seems to me I am beginning to detect a rat.
yes, it's true that Lee Hamilton promises no changes for us.  He says that
the company will continue to be known as "Freedom Scientific".  He says it
will still continue to operate out of St. Petersberg Florida.  Well, that's
what he says anyhow.  Frankly though, if secrecy is the order of the day,
those who may be inclined toward a conspiratorial bent will doubtless find
all kinds of sinister goings on and secret plots behind this.  And what,
pray tell, are the rest of us who take a calmer approach to do?  Hard to
tell.  I say give us the facts of the case.  If we have the facts, cooler
heads will prevail in this matter.  Keep facts from us, and the hotheads who
harborer conspiracy theories and all manner of unfounded untruths will
prevail.
   So, having said all that, what's my take on this?  My take is this.  I
advise keeping as calm as may be and let's wait to see what further facts
emerge from this present storm.

Sincerely yours,
The Constantly Barefooted,
Ray


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