We all learned in high school physics that Albert Einstein's Theory of Relativity declares that time is variable. Depending on the speed at which an object is travelling through the universe its measurement of time will speed up or slow down relative to other objects.

I don't know if Davis understands Einstein's theories of time dilation but he has invented a funny theory of time on his own.

Do you remember just last month when RAS was trading at $3.40 and Davis told us, "I have a 25% profit in my position that I have been building for the past two years. I'll take a 25% profit in a position any day of the week."

But did Davis sell ANY of that position at $3.40 to take his 25% profit?

No, he did not. He let his profit AND his free shares evaporate and turn into a major loss, which he liquidated at $1.65 on Friday.

Let's remember what he posted just two weeks ago when he was buying: "Thank you for those shares at $1.77. I can't wait for them to go to $4.00 in four months."

Did Davis actually wait for those shares he said he bought at $1.77 to more than double to $4.00? No he did not. He sold them out for a loss less than a week later.

Now the really funny part of all this is the way that Davis has dialated time. When he thought he had a theoretical profit in RAS his time horizon expanded to years. He said he was perfectly happy to have a 25% gain in two years.

But the very instant the position went into a loss his time horizon shrunk. Suddenly the possibility of a hypothetical gain of more than 100% from $1.77 to $4.00 in four months no longer appealed to him. He sold his position at a loss because he thought he was entitled to GET MORE THAN 100% IN FOUR MONTHS!

Now all of this nonsense is from the same "value investor" who pretends to operate on "a long-term time horizon." But his "long term time horizon" is constantly shrinking as Davis loses more and more money on his position every day.