Yesterday evening I posted an article titled “Accounting Irregularities at L&L Energy.”
In it I discussed my concerns regarding certain SEC filings of L&L Energy (LLEN).
I had originally intended to post several follow up articles focusing on other aspects of the company, but in light of today’s events I no longer plan to continue this story.
I am also a contributing author for SeekingAlpha.com, and in connection with this am required to disclose if I have a position in any securities that I write about. My disclosure for the L&L article was that I had plans to enter either a short position or purchase put options.
For the record, I do not, and never have had any position in L&L Energy. To my knowledge, none of my friends, family, or associates have or have ever had a position in L&L Energy. I also no longer plan to enter any positions in the foreseeable future.
Simply put, I am not and never was positioned to profit in any way from the publishing of my article.
I write about investments as a hobby. I write about stories that I find interesting and always look forward to sparking a good debate. I firmly believe that a healthy market allows all market participants to discuss their views openly and that differing opinions contribute greatly to the efficiency and integrity of the markets.
I want to make one point very clear:
I am proud of the article I wrote, and I believe it to be 100% factually correct.
It accurately reflects my current opinion of the company, but at the end of the day, it is only my opinion.
Others will disagree but that is what makes a market.