Well I'm looking at the past graphs atis, as you suggested.They...

Well I'm looking at the past graphs atis, as you suggested.

They show ADL going up and down - both - depending on the time and circumstance. Through 2004, for instance, before declining again to lay down the recent base, ADL went from 5c to 24c.

The Speculator made 194% on his portfolio last year, as (presumably) did readers who followed his advice. If such people are 'desperados', I am one too.

It's not a question of a magazine article per se. It's a question of which comes first - 'undervalued company' or 'Speculator write-up'?

I.e. on The Speculator's past performance (over a mere 33 years), there would be no write-up were this not an undervalued company.

194% speaks for itself.

Remember: 1. Horse. 2. Cart.