Pat, I was aware of the Bre-X saga, but never posted (nor of course, invested in that one). One of the problems with scams is how to discover that indeed management is lying through their teeth. The next problem is how to post about those lies and deceit in such a way as to not be embroiled in a legal dispute for libel. The way I have often approached this problem is to analyze the balance sheet and determine if the "dreams" are at all achievable with the company's resources. In other cases, (like IPMCF), I actually went down to the nitty gritty of the proposed new "revolutionay processes", the fact that these processes changed every week, and that different parts of the proposed process were contradictory to others, was a hint as well (the same with GPGI and other "desert dirts). In the case of TSIG, it was a simple analysis of how the CEO was cleanly printing shares and selling them "legally" to the public, increasing the float till deridation (and of course the same goes for that big family of floorless, Arakis, was the first, I believe, where that type of analysis was required, EXSO was not far behind, VLNC was one of the last floorless I got involved in getting bashed, that is where Johnson got his deep hatred for the truth messenger).
Scam artists and pumpers are a dime a dozen, but I think that after spending two solid years in the Don Quixote like fights against the perpetrators and their willing and sometime, unwitting cyber collaborators on the threads, I have had enough of that.
Zeev
Zeev |
