To: +JMO (6273 )
From: +Tom Swift
Friday, Mar 26 1999 11:34PM ET
Reply # of 8434
"If Daniel makes a pick/call on a stock and someone is stupid enough to buy it without
doing their DD first, that's their problem. When you buy a stock you are buying at your
own risk. Smart investors don't get caught with P&D schemes."
The problem is, that this thread is not read by smart investors. How many posts have
you seen on this thread asking a 15-year old boy (let's see, mid-9th grade education,
can't drive legally, can't drink legally [probably a good thing], can't go to an R-rated
movie legally, can't buy stocks legally, . . .) what his opinion is on this and that stock and
whether they should buy or sell.
Smart investors, I don't think so, I call them sheep and other unmentionable names.
Daniel is a smart kid and I am impressed by his ability to handle the current criticism. In
time, if he learns ethics and goes to college, I expect that he will do well.
However, I have been reading his early posts and he has gone through a number of
phases. Soon, I will post a complete analysis.
First, he was a sheep/investor.
Then he realized that for the small amounts of money that he had, he needed help to
move the stocks. At this point, he tried to organize coordinated buying in penny stocks.
I wish I had signed up for his first AOL e-mail pick, because there were several
responses on SI saying "Daniel, that is totally illegal, take me off your list".
Then, he started publishing his picks. This worked for a while and they all spiked as he
picked them.
Then, he seems to have gotten carried away with "sharing" his picks -- although DM
claims that he merely hinted. However, when this get to court, I expect that it will be
proved that he was giving them out early to the inner circle.
These were the glory days.
Then it backfired. DM burned lance by being too obvious what his pick was going to be
and then changing it. This is a muddled story. We know that a day earlier than the DM
big pick, musicguy knew what the pick was because he was well connected on SI and
the pick was passed on to him. MG posted the pick, and DM didn't carry through
(although we all know what it was).
BTW: Musicguy has ethics. He was instrumental in exposing BigDog for the same kind
of behavior last fall.
So, then Musicguy started posting on this thread. He has a short temper, and he got
suspended for it three times before the final boot. However, his lead was followed by
others who were also appalled in seeing that adults were listening to a little kid. I had
noticed DM last summer and discounted him. When I read this thread, I saw what MG
saw -- a bunch of newbies were getting ripped off by DM's posts and the many
pumpers and dumpers that were feeding poor DM with information that he was taking
at face value.
Now we are in the decline. I don't see DM making weekly picks and I don't see any
spikes after he mentions a stock. ABFG is a dog and the FBNA crew is on it (which
means that it is both a bad pick and a fraudulent company from past experience). DM is
now reduced to being an "investor" in a bad stock and has been trying desperately to
promote it on various threads on SI rather than just mentioning it as a pick on this
thread.
I do feel sorry for Daniel, however, this is the way the game is played and he has been
relying on luck, publicity, and IR firms for information for the past year which is not the
way to make money in the markets.
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