Amvona

Watch Fr. Emmanuel on Russia's The Central TV Show Discussing US Economic Policy

In announcing tariffs against China, President Donald J. Trump is not launching a "trade war."

"It's not unreasonable for any leader of any country to seek equitable trade terms," Fr. Emmanuel told Russia's The Central TV Show March 7, 2018 from the construction site of St. Katherine Orthodox Chapel:

This segment on Russia's Central TV Show explores the possibility of a trade war between the US and China as well as the implications for investors and global economic policy.  Starting from the premise that US government actions are not driven by good business sense but by geopolitics and power; that there is a risk of starting a new global economic recession; that there could be opportunities for Russia.

Fr. Emmanuel's segment contrasts this position by defending the President's economic policies while pointing to a philosophy of investment based on creating wealth to do good vs. investment as speculation or taking actions in the global economy based on power politics.

Угроза или шанс: затронет ли Россию торговая война США и Китая

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A Valentine’s day letter to the Board of Directors of Geospace Technologies

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February 14, 2018

Gary Owens, Chairman of the Board of Directors
The Board of Directors
Geospace Technologies Corporation
7007 Pinemont Drive
Houston, Texas 77040

RE: Annual Meeting Circus

Dear Gary,

I trust that you are aware that entities under our control collectively own approximately 10% of the issued and outstanding shares of common stock of Geospace Technologies, Inc. This makes us one of the company’s largest shareholders.[1]

As one of the largest shareholders, we cannot but be deeply troubled by the actions of this board of directors in responding to the activities of current executives and directors of the company, who have knowingly violated securities laws as outlined in our letter to you of February 9, 2018.[2] As you know our vote against the proposed executive compensation plan was confirmed by both you and the transfer agent at the annual meeting held on February 7, 2018. Nevertheless, company executives have acted as if this vote was never cast, and, even worse, to cover up this deception in the form 8-K which was filed on February 12, 2018. Mr. McIntire’s attempt to justify the chicanery of later disregarding the votes in the most recent form 8-K, to put it nicely, is fanciful. This action is particularly offensive considering Mr. Wheeler’s recent comments on the Q1 2018 conference call--that the executive management team and directors of the company “...have a very good dialogue [with Lemelson Capital]…” and that “[Lemelson Capital] is a very valued shareholder.”[3]

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Lemelson Capital Management calls for Removal of Geospace Technologies (NASDAQ: GEOS) Senior Executives, Sale of Company

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Lemelson Capital Management calls for Removal of Geospace Technologies (NASDAQ: GEOS) Senior Executives, Sale of Company

Firm seeks public and transparent filings

Marlborough, MA, February 9, 2017—Lemelson Capital Management, LLC, a private investment management firm, announced today it is calling on the board of directors of Geospace Technologies (NASDAQ: GEOS) to remove CEO Rick Wheeler and CFO Thomas McEntire. In addition, it is urging the board to explore an immediate sale of the company. Geospace is a global leader in the design and manufacture of instruments and equipment used by the oil and gas industry.

The full letter can be found here

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As major indexes plummet, listen to Fr. Emmanuel talk about the risk of a crash just one week earlier

Just one week before the Dow and othe rmajor US indexes plummet on February 2, 2018, listen to Fr. Emmanuel speaking to the crew of Benzinga TV on the risks of a stock market crash.  

 …I don’t think people are thinking about the price-value dislocations at all, they just think, no price is too high because tomorrow it will be higher and that’s a scary environment..."

- Fr. Emmanuel Lemelson, speaking to Benzinga TV on January 26, 2018

More from the interview:

“When everyone is jumping in, it’s just classic late stage, the history of US financial markets are cyclical, and you’d have to believe we’re not going to have a down-cycle at any time to buy-in at these prices… frankly the short side looks much better to me. You can almost see it in the sentiment of the average retail investor, when they really believe its easy, right? It’s easy to make money, you put your money in and you get a return and people stop caring about prices… 

When price is completely divorced from value in the mind of the average investor, and then you start to see things that are symptomatic of a bubble, like frantic speculation in things like bitcoin and crypto-currencies, these are all indications that we’ve entered a phase that’s not at all rational and it could end at any time, it could be any sort of event, there’s just no margin of safety in most issues out there right now, most things are fully priced, many things are off-the-charts priced, and I don’t think people are thinking about the price-value dislocations at all, they just think, no price is too high because tomorrow it will be higher and that’s a scary environment”

Watch the full interview below or click here.

 

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Fr. Emmanuel speaks live to Benzinga TV from St. Katherine Orthodox Chapel

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Listen to Fr. Emmanuel live on January 26, 2018 speaking to the crew of Benzinga TV from the construction site of St. Katherine Orthodox Chapel in Stowe, VT.

 …I just wanted to share with you a conversation, that I had  last week with one of our devoted listeners...and I asked her who is your favorite guest? and your name came up first..."

- Joel Elconin, host Benzinga TV

Interview includes Fr. Emmanuel's views on the market, macro-economic issues, and specifically the following securities:

  • Hibbett Sports (NASDAQ: HIBB)
  • Dicks Sporting Goods (NASDAQ: DICK)
  • The Oil and Gas Sector
  • Geospace Technologies (NASDAQ: GEOS)
  • CGG (NASDAQ: CGG)
  • ION Geophysical (NASDAQ: IO)
  • Apple (NASDAQ: AAPL)
  • Netflix (NASDAQ: NFLX)
  • Domino's Pizza (NYSE: DPZ)

Watch the full interview below or click here.

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Lemelson Capital Management announces 10 percent stake in Geospace Technologies (NASDAQ: GEOS), urges immediate share repurchase

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Lemelson Capital Management announces 10 percent stake in Geospace Technologies (NASDAQ: GEOS), urges immediate share repurchase

Firm reiterates near-term intrinsic value at $38 per share

Marlborough, MA, December 1, 2017—Lemelson Capital Management, LLC, a private investment management firm, announced today it has acquired, for its flagship Amvona Fund, LP, a stake of approximately 10 percent in shares of Geospace Technologies (NASDAQ: GEOS), a global leader in the design and manufacture of instruments and equipment used by the oil and gas industry. In addition, it is urging the company to initiate an immediate share repurchase plan.

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Rev. Fr. Emmanuel Lemelson speaks to global business and political leaders about Theosis in the Orthodox Church

Rev. Fr. Emmanuel Lemelson speaks to global business and political leaders at the Caux Round Table at the Wittenberg Center for Global Ethics about Theosis in the Orthodox Church, his per personal life experiences, including as an activist investor, a Christian philosophy of investment and being a witness for Christ.

Wittenberg, Germany, November 7, 2017

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Listen to Fr. Emmanuel live discussing an update on The Amvona Fund, LP's recent investments as well as thoughts on the markets

Lemelson Capital Management Logo resized to 220 pxListen to Fr. Emmanuel live on November 10, 2017 discussing an update on The Amvona Fund, LP's recent investments in the retail sector.

“…honestly, I thought it [Hibbet Sports] was one of the best value investments we had come across in the last seven years… we loaded-up substantially… we bought a huge block of shares between $9.40 per share and $9.50 per share, I couldn’t believe it, the price”

“some of the things people are saying about them [Hibbett] are not really rational, like saying, ‘it’s too little too late for their ecommerce’… why would you bet that they’re not going to benefit from having an ecommerce business? I think they’re going to do their omni-channel business extremely well… it’s an incredibly well-run business, I think it’s going to be a home-run for us… we already have a very significant rate of return…”

Interview includes an update on the fund's stakes in:

  • American Eagle Outfitters (NYSE: AEO)
  • Guess (NYSE: GES)
  • Express  (NYSE: EXPR) 
  • Hibbett Sports (NASDAQ: HIBB)
  • Domino's Pizza (NYSE: DPZ)

Commentary also includes an in-depth discussion of the market, macro-economic issues, and an update on the performance of the above commitments since the last interview on August 25, 2017.

Listen to the full interview here.

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Listen to Fr. Emmanuel live discussing The Amvona Fund, LP's investments in the retail sector and more

Lemelson Capital Management Logo resized to 220 pxListen to Fr. Emmanuel live discussing The Amvona Fund, LP's recent investments in the retail sector.

Interview includes discussion of the fund's stakes in:

  • American Eagle Outfitters (NYSE: AEO)
  • Guess (NYSE: GES)
  • Express  (NYSE: EXPR) 
  • Hibbett Sports (NASDAQ: HIBB)
  • Domino's Pizza (NYSE: DPZ)

Commentary includes discussion of Amazon (NASDAQ: AMZN) and it's recent purchase of WholeFoods Market, implications for Costco Wholesale (NASDAQ: COST) as well as an extensive discussion of regulatory and accounting abuses in the pharmaceutical industry. 

Listen to the full interview here.

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3D Model of St. Katherine Orthodox Chapel - Stowe, VT

St. Katherine Orthodox Chapel – 3D rendering with accurate topography and location of trees. Dome will be alternating Gold and Silver sections.  Chapel will be located on 28 pristine acres between the Worcester Mountain range and Mount Mansfield in Stowe, VT. Synthesis of traditional Byzantine Architecture with local Adirondack ethos.  

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