Thursday, July 18, 2013

From the Archives, this circulated in April, 2010 - A Parody of the SEC's Goldman Sachs Complaint. (The footnotes are factual, as is the Bloomberg quote on Paulson and the graph of subprime prices.)

Ace Portfolio Selection Inc., Parody

ACE Portfolio Selection, Inc.        
Regulated by MIA1          (Maryland Insurance Administration - )

Sublime Securities Fund       
(c) 2007

Our Firm

We select sublime securities for our clients and ourselves.  We have dedicated substantial resources to the analysis of sublime securities and have one of the world’s largest portfolios, outside of Federal Reserve System regulated banks.  We are proud of our record, having taken no write-downs on any of the securities we have purchased.2

We seek to purchase entire portfolios of sublime securities opportunistically with particular focus on motivated sellers.  We believe that the ability to purchase entire portfolios provides us a significant price advantage because of the certainty it provides the seller.  We prefer to negotiate directly with sellers in order to garner detailed information on their analysis from the process of suggesting, discussing, deleting and replacing securities in the prospective sale.3 

We value our reputation.4   We believe in our analysis and we often invest more in a transaction than all of our clients combined.5

While all investment strategies have risks, our strategy has some unusual risks.  Clients should carefully review the Risks section.