<<<IMO, freedom of speech on the internet does not extend to the deliberate spread of misinformation and lies about companies. I have no idea whether Pluvia was doing this concerning the issue at hand, but when he made the "bad news coming" call concerning Arakis Energy a few months back (which I referred to in a previous post), he was very close to crossing the line of blatant manipulation, in my opinion.>>>
For those of you not familiar with our history, Larry & I have butted heads many times in the past on the AKSEF board.
Larry, I agree with you that spreading deliberate misinformation and lies about a company is a serious problem. But to put me in that category of blatant manipulation is wrong, particularly based on the example you cite with AKSEF. My information was correct on AKSEF and if you or anyone else reading that post had taken it as a heads up you would have discovered the problem, or at least a good portion of it.
I did post several months ago that I had heard bad news was coming in regards to the company AKSEF. At the time the CEO was McLeod, a guy Larry and everyone else on the thread seemed to think walked on water. In fact it seemed historically he did do great things for the company.
I had information, from a source that had never been wrong in the past, that McLeod had left AKSEF on shall we say, not good terms, and that part of the issue was McLeod's personal use of AKSEF monies. With that information I posted that "Bad news was coming".
I did not post any of the details of the rumor for one primary reason -- my source said doing so would potentially expose him and eliminate him from future information. I gave him my word, and I stick to my word.
IMO, information is king. I would never consider posting information that might jeopardize my future source of information, just to win an argument with the likes of Larry.
My post gave everyone who was a shareholder a tip to do their own research -- enough of a heads up that for anyone to have sniffed around and found -- at the very least -- McLeod was no longer with the company.
It has since been revealed in company filings and releases that McLeod did leave the company, and just as he left the company he got an unsecured loan for about a million bucks as I recall, and that other company officers also took substantial unsecured loans, none as big as McLeod's, but all at rates much more favorable than they could have gotten from any bank.
Now, if I had a history of making false alarming claims, I can see where you might have a point Larry, but that is not the case. My claims are based in a strong foundation of research. I challenge you to find a single case where that is not true. I do serious research, and use independent sources for verification whenever possible. Sure I have been wrong in the past, and sometimes I make mistakes -- a perfect example is my analysis of the ERP Industry group (BAANF, PSFT, RMDY, SCOP etc.). I felt several months ago they were severely over valued, and at the time, overvalued companies were taking big haircuts when their earnings were released -- some getting chopped in half.
As it worked out I was dead wrong. The market turned on a dime within a week of my opinion that the ERP industry group would get hit hard, and with high short interest and a few buy rec's the stocks sky rocketed -- some almost doubling since.
Larry to call my actions blatant attempts at manipulation is pure ignorance IMO. First of all, I think your argument would be better served if you made that claim about the majority of completely unfounded bullish posts that constitute the majority of posts on all stock boards. And secondly, you and Westergaard are attacking the wrong guy. I do a heck of a lot of quality research, and my history proves it.
IMO, as many others have stated here, the BIGGER issue is whether or not Westergaard, as a PAID PROMOTER of PLSIA, can publicly accused me -- or anyone else, of fraud and stock manipulation, or harassed anyone by having a reward placed on their head as if they were a criminal, for simply expressing a differing view than the view the paid promoter represents.
As a result of Westergaard's false claims against me, a company I do business with has had their attorney call me asking me not to associate with them. Large business deals I have arranged have been ruined. My name and reputation has been damaged. This is not funny to me. I am barely sleeping or eating as I go through this nightmare.
We as investors should be able to speak our opinions freely without the threat of this ever occurring to anyone ever again.
Steve |
