by Travis Johnson, Stock Gumshoe | October 8, 2010 10:30 am
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Regarding CAK (CAMAC Energy), I see that Kase Lukman Lawal owns over 90 milion shares of the 143 million outstanding shares. As capitalism is based on greed I have no problem with insiders owning shares in the company they run/control, in fact that is one of the issues I examine carefully via EDGAR before making a purchase decision. However, as Mr. Lawal controls roughly 62% of the company I find taking a position to be more like investing in a small partnership. Since I don’t know the genteman personally and cannot use my personal judegement as to whether or not he is honorable, I would never invest in this type of situation.
/* Phil */