About a year ago, while shopping for alternative investments, I came across an article written about Davenport Laroche. It was authored by a Canadian investor named Alexis Assadi. In this article, the author accused Davenport Laroche of misleading investors, and issued a caution to the investment community. I was one of the investors that heeded the warnings from Alexis Assadi and did not invest with Davenport Laroche.
Nearly a year later, I revisited the notion of investing in shipping containers. And, once again, I came across an offer from Davenport Laroche. Surprised that the company was still operating, after the repeated warnings from Alexis Assadi, I felt compelled to look deeper. Most importantly, I wanted to find out whether Alexis Assadi lied to me about Davenport Laroche.
In my search, I discovered an article about investing for retirement. Within the comments I found an interesting review from a current investor. According to the documents the gentleman provided, he made $72,000 in three years investing with Davenport Laroche. I would have thought the investor lied, if it were not for the detailed information he shared.
I spent days reading through posts all over the internet. I searched for more negative articles about Davenport Laroche, particularly those that were written by credible investors with first-hand experience, and there were none. The article written by Alexis Assadi was the only one I could find. If what he said to me a year ago was true, there should be hoards of negative accounts by now, right? I suppose that would be true, unless he lied to me.
In retrospect, I placed too much emphasis on the opinion of Alexis Assadi. The truth is that he is at best a young investor (mid-20s) with an inflated ego and little-to-no experience. Before giving investing advice to his audience, Alexis Assadi is responsible for doing in-depth research and quoting reliable sources. In the instance involving Davenport Laroche, I do not believe he was properly informed and may have intentionally lied to me and the investment community.