>>I know you're not kidding because I used to play the VSE before all the crap hit the fan. I know how really, really bad they are over there and that they used to be much worse. Yes all the brokers who lost their licenses in Canada moved their butts down to the US BBs and robbed the unsuspecting American investors.
I feel ashamed as a Canadian that one of the few things the Americans will remember the Canadians for is their BB stock scams. Stock scams and hockey spells Canada. Very disappointing really . . . but I'm happy to say I'm not from Vancouver . . . I'm from Toronto so we're kind of sheltered from the VSE stuff. We know what it's like to buy stocks in real companies so we don't feel we are stuck and can only buy scam stocks.
Weird thing about people from BC though is that they are usually very friendly. You don't know the guy is screwing you until it's too late and even then you'd swear he was your best friend. It's like they have no idea what life would be like if everything wasn't a scam. Nice people but good golly they need to learn something about running businesses other than stock scams.<<
I really hope were just caught up in the spirit of the moment last night when you wrote that. You have been diligently slamming stock scams, and I applaud that. This exposure helps us all. However, I feel that the blanket condemnation of all companies listed on the VSE is unfair. I also feel that your wide condemnation of the business acumen of B.C. based companies is incorrect, and by saying this your statements come across as immature - which I know you are not.
Are there some companies among the hundreds who should be exposed? Yes - definitely! I personally believe that justice for these people should be fashioned after some of the more hard line countries in the world.
That said, I also know that there are also many young growing companies who have extremely hard working, honest people who have put their financial futures on the line to make a go of their dreams. I have lived in B.C. twice, and some of my best friends have thriving businesses in the lower mainland. One such business (privately held) was started by a close friend of mine (in a garage of all places), and now I estimate that his net worth is anywhere from $25 - $50 million. And no, it isn't a tech company.
Your statements, as sharp as they are, have tainted all of them. That is wrong!
I too have been burnt investing in companies on many of the junior exchanges. I have a long list of what I call "Stupid Investments" from speculating on some of the junior exchanges. However, I can also tell you that unfortunately, I have been burnt by some companies who trade on the major exchanges as well. What I always try to remember is that the junior exchanges carry with them a higher risk reward ratio. After 25 years of investing in companies on almost every stock exchange in N.America, I now go in with my eyes wide open no matter which exchange it is on. I also try to take positions in companies only after completing a large amount of due diligence that I, or people whom I trust, have completed.
If you have an issue with the regulatory boards, or with specific companies in general, then please state that. But, I think we should all be careful not to take down the good with the bad. We often use too big a paint brush when we get into these types of discussions.
As you know, I sent my thoughts with via PM last night, and you suggested that I put out my comments out in this public forum. I respect you greatly for that.
However, I can assure you that it definitely is not my intention, nor is it my desire to enter into a protracted debate on this topic or the merits of individual stocks, or the exchanges they are listed on. I've said my piece, and I now plan to spend the rest of the day with my family.
I also want to publicly thank you again for the time you spent helping my brother with his business. That was a kind thing you did for him. It was much appreciated!
Your friend.
Crazy Canuk |
