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Pastimes : The Perils and Pitfalls of Investing With "Friends"

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From: SI Bob10/26/2004 7:13:53 PM
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I want to step in here and say a few things.

1. Can anyone show me precedent via PM, or publicly if you prefer, where a thread such as this didn't get shot in its tracks? I can think of a number of such threads that were snuffed quickly for two reasons:

A. Such a thread is arguably an "attack" thread aimed at someone who is not an officer or IR rep of a public company. Those people have generally been fair game. People who are neither have generally enjoyed immunity from being the subject of such discussion.

B. The subject of this thread is also a member of the site, which has historically afforded additional "protection" from such discussions.

2. I have not heard from TLC about this thread and have no idea how he feels about it. Personally, I think it's dirty laundry between members that, at face value, if I can assume what I've read here is true or mostly true, is more a matter of people either mixing money and friendship (always a bad idea) or investing in something (be it a trading account or a website or whatever) much as a VC would, only to have suffered the worst-case scenario all VC's and even all public company investors must face as a possible outcome.

3. TLC is one of many SI'ers who I consider a personal friend. And when I browse the thread, I see a number of names that I also consider personal friends on the same level. Always uncomfortable (a major understatement) when friends fight, but I've been there and would rather bear that burden than have Dave do so. I know that whichever course I choose will result in a larger number of people thinking me an asshole than already do. Not fun, but I've been there. And it helps that the characterization is not entirely untrue. <g>

4. I will ultimately decide the fate of this thread, though I'm currently undecided (although leaning toward the delete key) and actively seeking feedback from people who are for and against this thread's removal. Personally, I think it's crass and goes against not only good netiquette, but the spirit and word of our rules of engagement. TLC, if you're reading, I also welcome your input.

Even before reading feedback from people, my inclination is that this discussion, gathering of information, and publication of the information found should not be a public part of this site but instead a separate site just like Mmmary's where she posted all of her opinions-posing-as-facts (but that's my opinion) about myself and Matt Brown because she was forbidden to do so here because her thread was an attack against site members.

I haven't read all of this thread (yet), but in case it's a topic of discussion, I intend to keep TLC's commentary. His mandate for those columns is to entertain and educate and I personally think he's one of the best humorists to come down the pike since Douglas Adams and have told him for years his calling is as a humorist and anything else is a tragic waste of one helluva gift. His being commissioned to write articles for us is a nudge in that direction.

I've also seen discussion of garnishment of the fees he's paid for these columns. I pay a pittance for those columns. Just enough to induce him to write them and not a penny more.

As mentioned above, taking this off-site (and erasing this thread and starting a new one with a simple introduction and a link to that other site) is the solution that would please me most and I would expect that someone here has already saved all of the posts here in the not-so-unlikely event they'll be vaporized.

I would like to hear both sides of this, whether privately or publicly. I won't be able to make a decision that'll please everybody and know that any action or inaction is going to turn friends into enemies, but it's an inevitability it'd do little good for me to moan about. I've been down this road before.

Though I'm inclined toward removal of this thread and suggest that taking it elsewhere would be the solution that would allow people to address a problem, whether perceived or real (I have no opinion on that and don't care to form one -- this can't be about how I personally feel about any individuals) and result in the fewest crushed toes, I'll happily read and seriously consider any and all feedback given to me on this matter.

Regards,

Bob Zumbrunnen
President/CEO
Investors Hub
Silicon Investor

PS. Public discussion of the thread's fate is preferred but not mandatory. PM me if you like.
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