Westergaard speaks
John just can't shut up. Here's a fax he's sending everyone. He says he's not guilty of fraud. He was just excercising his freedom of speech. Posing as an independent analyst when you're actually just a paid hypester then telling people to mortgage their house to buy worthless stock is not protected by the first amendment. He says, and I quote, "The sec has been pursuing a vendetta against me for exercising a constitutional right." Yeah, right, westy. Tell it to the judge.
mary.cc
Here's the post from yahoo where he talks about mortgaging your house to buy his stock.
Yes, Do Mortgage the House But Not Yet!!
by: westergaard 02/24/98 04:39 am EST
Msg: 179 of 97243
I have only known of one instance where someone went out and mortgaged the house to buy a stock. He was employed by an advertising agency handling the Xerox account in 1960 I believe it was, even before Xerox was Xerox. The man became very very rich. All of us following this thread have the potential opportunity for becoming rich on this stock which I define as making a million dollars (not rich maybe, but better than a kick in the pants). I would assume that everyone here can afford to buy 10,000 shares which is less than $20,000. I would then borrow on the house to buy another 5,000 shares when the SEC approval comes through. Let's say the stock is then 2 1/2. Then I'd borrow again when some tangible evidence comes through that the system is functioning to plan and that 4-5 gorillas have signed up (FIDO, Vanguard, etc.). Let's say the stock is then at 4. Now you've got circa $50,000 invested in 20,000 shares. When the stock hits 10 you buy another 5,000 shares on margin, borrowing $50,000 against an equity of $200,000. When the stock hits 40 you've got $1mm less your cost of $100,000. It's so easy, isn't it? I've seen this done on a few occasions. I had a client who did this with Commodore, investing $400,000 and taking out over $12mm. The reason he was able to do that was because he stayed focused!!! That's the key: focus, focus, focus. Don't get caught up in this trading bullshit. John W. |
