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Convicted Felon Sam Antar Goes After Francis Chou


Parsad
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In Sam's latest bash (re: article) on Overstock.com, his new target seems to be Francis, as the Chou Funds has been accumulating a significant position in the last little while. 

 

Antar is always looking for any target associated with Overstock.com or Patrick Byrne.  I would rather just see the two of them go at in a ring and get it over with, but I doubt if Antar wants to take on an ornery Irishman with a black belt, who is just seething and ready to take a bite out of him.  Cheers!

 

http://seekingalpha.com/article/352721-francis-chou-s-fund-takes-a-bath-on-overstock-holdings?source=yahoo

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wow, that ending is nuts:

Disclosure:

 

I am a convicted felon and a former CPA. As the criminal CFO of Crazy Eddie, I helped my cousin Eddie Antar and other members of his family mastermind one of the largest securities frauds uncovered during the 1980's. I committed my crimes in cold-blood for fun and profit, and simply because I could.

 

If it weren't for the heroic efforts of the FBI, SEC, Postal Inspector's Office, U.S. Attorney's Office, and class action plaintiff's lawyers who investigated, prosecuted, and sued me, I would still be the criminal CFO of Crazy Eddie today.

 

There is a saying, "It takes one to know one." Today, I work very closely with the FBI, IRS, SEC, Justice Department, and other federal and state law enforcement agencies in training them to identify and catch white-collar criminals. Often, I refer cases to them as an independent whistleblower. I teach white-collar crime classes for various government entities, professional organizations, businesses, and colleges and universities.

 

I do not seek or want forgiveness for my vicious crimes from my victims. I plan on frying in hell with other white-collar criminals for a very long time. My past sins are unforgivable.

 

I do not own any Overstock.com securities long or short and have no position in any of Francis Chou's funds.

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He also never comments on how he funded his friend Barry Minkow's exploits, and Minkow is now in the klink for a second term at the University of Life!  Take a look at the shit that Antar hangs around with and how they conduct themselves, and take a look at who Francis associates with and how they conduct themselves.  Not hard to figure out what's going on.  Cheers!

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WOW!!  Talk about playing dirty.  Trying to bash a mutual fund to force redemptions thus lowering the stock price to cause capital raise problems. 

 

Guess it's alright to be a crook on Wall Stret if you tell the public your a crook.

:-\

 

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WOW!!  Talk about playing dirty.  Trying to bash a mutual fund to force redemptions thus lowering the stock price to cause capital raise problems. 

 

Guess it's alright to be a crook on Wall Stret if you tell the public your a crook.

:-\

 

Yup, he's not talking about Fairfax's stake in Overstock, because you can't force them to sell.  But if you get enough of Francis' unitholders to worry, especially institutional clients, then you could get some redemptions going.  This guy is a piece of shit!  Normally I don't get this aggravated, but Francis is one of the most ethical people I know.  Buffett would easily hire Francis...without hesitation!  I love Prem, Mohnish, Tim et al, but the nicest person I know in the financial industry is Francis.  Hands down I would trust him with my money, my family's money, you name it. 

 

The guy gave up all compensation while working as vice-president at Fairfax, because he thought it did not look good he was being paid to work there and Fairfax had investments in the Chou funds.  He didn't want anyone to ever think he was double-dipping.  He's loyal to a fault.  Never sold a single share of Fairfax since he bought them at $3!  If Prem ever needed him to help out at Hamblin-Watsa, Francis would be there in a second.  Never discusses the big score Fairfax made in credit-default swaps.  Never says a word, even after Brian Bradstreet and Prem said it was his idea.  Never seeks out credit, has incredible humility and goes out of his way every year to attend our dinner. 

 

I remember the very first dinner, he just sort of poppped on by, and then Uccmal yelled at me and said "Sanj, Francis is here!"  We had no idea he was going to come.  Just nine of us for dinner, and here he was just showing up to hang out with us and answer questions.  Every year, he never misses our dinner, and then he hangs around for another hour and a half surrounded by shareholders answering all sorts of investment questions.  Never complains or says a bad word about anyone.  Simply a great guy and role model!  I know he's not going to respond to anything Antar says, so that's why I'm venting!  ;D  Cheers!   

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I'm with you Parsad, I can't say enough good things about Francis.  We'd be hard pressed to find a man more capable, honest and honorable.  His character is beyond reproach and he's a role model for all fund managers. 

 

In case some of our readers don't know, Francis immigrated to Canada at age 20 with $200 dollars in his pocket.  He worked as a lineman for Bell Canada and became a disciple of Ben Graham.  Prem granted him a courtesy interview and Francis just blew him away with his knowledge.

 

His life, like Prem's, is the classic Canadian (American) dream.  What he accomplished though his hard work can never be taken away or disparaged by any man.   

 

I'll go out on a limb here and predict zero redemptions related to this article!

 

Best regards,

 

Eddie 

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Francis Chou is a Saint in the value investing world. He is a Northern Star - the guiding light that all value investors need to follow. He had a burning desire to apply the principles of Ben Graham to the fullest extent with the highest integrity across the board in all ares of his life. Without a doubt Francis Chou made a dream come true by over coming all odds. He never gave up.

 

He stands above all with honor!

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Guest ValueCarl

I would be less worried about Francis Chou than Prem Watsa in the case of what befalls Overstock in the shorter term. Prem packs a wallup of a PUNCH in the form of USURY interest rates for companies that he perceives as weak during times of trouble, macro, or security specific. 

 

Then again, he and Francis are tied at the hip to a certain degree, as Francis will sometimes PILE ON with Prem for a chance at usury.

 

This being said, the fact that he is piling on straight equity is very assuring for Overstock speculators! 

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