From: Bob Cook * As a logical deduction from your apparent skepticism, you must conclude that the $70 Million invested in Industrial Heat by two different investors is wasted; and that Rossi has somehow fooled those investors. Don’t be naïve, Bob. Bernie Madoff fooled sophisticated investors for 100 times more than that, even if your figure is accurate, which it isn’t.
Due diligence is almost a joke in cases where there is a broad portfolio; and the spokesperson for Woodford completely balked when asked who provided the consultation on Rossi. They are running scared at Woodford, due to the negative comments (Mary Yugo, as you might suspect). Gary Wright is probably threatening legal action, so no one is talking any more. Plus, there is way too much disinformation floating around about how much and to whom. We simply do not know how much actually went to IH as opposed to Cherokee. Your number looks like the one that came from the report by Mats Lewan. Someone other than Woodford multiplied total assets by a percentage, but this could be off by a factor of 10 or more. No one really knows. Plus, we do not know who got what since these are blanket portfolios. Rossi is unknown to some of Cherokee’s investors, and it appears they want to keep it that way. Cherokee, not IH is where the bulk of Darden’s investment is centered, and it is mostly for brownfields and there is a large energy portfolio which does not mention Rossi, as well as waste remediation and clean water, etc. Check their site – no mention. Apparently, Darden did not even promote Rossi at a recent get-together in Raleigh. It is possible that the relationship has soured. Certainly, they (Darden, Cherokee) are not talking-up the upcoming Rossi report (assuming there is one). By now, don’t you think they know the results? Why aren’t they grinning from ear-to-ear? If Rossi’s results were positive, and Darden stands behind them as scientific – WOW – billions will flow in. And yet here he is actively soliciting funding and ignoring the brightest thing in the entire portfolio? Everyone it seems - except Cherokee, express glowing optimism about the upcoming report. I hope they are right, but my dog Cervantes can smell a rat all the way from a coffee roastery in little Havana.
