*AV*--That's it!!! I callin' the cops. I KNOW you have had my phone tapped for the past few weeks or worse, yer the lowlife that put me on the damn list for all these scum buckets. You do a great immitation of the guys.
As I said, I made the mistake once and now I have to put up with it until they get the message. However, I do use some unusual tactics. The first 2 are the most elaborate.
1. I interrupt them and APOLOGIZE for no being able to talk to them any longer or at that time because I just received a FAX concerning a company I had targeted for purchase. I have to get off the line because I am converting my portfolio to cash and gobbling up all the shares before everyone realizes what is going on. I explain that I received this info just seconds after the company has released it to the newswires. They want to know what the name of the company is and of course I say "No can do" since this is already grey area insider stuff. Whatever they say next I respond with "Gotta go before I lose my opportunity" CLICK ....... Talk about STUPID on their part. The next day (and they do call back) I give them the biggest mover of the day as the stock in question.
2. Same deal as above but I am waiting for the short of a lifetime. And YES, I use the largest loser of the day for that. I look like a genuis to them.
Faster turn offs
3. If I am busy, I use the line "Get to the point and name the stock. Both of us are busy people" OH XXX Corp., say no more. I already own 5,000 shares and am content with my buy in price (or I bought into that pig on stilts last year when it was trading higher).
4. In the case of the IPO guarantee they use, I say that I can only get involved if they can commit to 25,000 shares at a minimum. IF they cannot deliver 25,000 shares, forget it because I am already negotiating for that amount through someone else. Only once did one of these dudes comeback with an indication guarantee for the 25,000 shares and luckily it was the night before the IPO. I told him "No way Jose" Had you done it a week ago, I would have committed but now it seems the shares available at this late a date mean the IPO is undersubscribed and I have changed my mind. Try me on the next one.
The fastest turn offs
5." Get to the point and tell me the stock. I need 48 hours to do my research" (they say they have all the research done already and can answer any questions) and will get back to them. IF they can't wait 48 hours then the stock is not worth looking at. Surprisingly, they never call back on these stocks.
6. "Sorry but I use the Peter Lynch method, if I do not know anything about the company or what it does I keep away from it until I have all my ducks in a row."
7. "I never do business with a new company on the first stock mentioned. I need a 3 stock paper history before I will commit funds. You need to deliver on all 3 picks before I do business. If you do, you have me for the future. If not, 3 strikes and you're out." I bet 60-75% of all the boiler guys hardly ever call back after this for a good while.
Why all this lengthy diatribe??? Because, thanks to you, I am going to use the SLEVIN put down from now on. With calling waiting or another line, I will quickly interrupt the boiler guy for a second and then say I have to pick up on another line and put them on hold. Well, instead of being on hold, I will:
getbent.com
and then accidentally hang up on the wrong line, HIS.
Funny thing is that I can occasionally give them the name of a company like say ALYD and set them up for the pickings. Afterall, I can explain why ALYD went to 32 and then back to 11 and now is at 21. When I tell them this this will be back to 32 by the end of next week, they get confused and cannot do their DD in time. Turn around is fair play. When they call back down the road, I ask if they particpated. If they say no and the stock went up or down, I have 2 great responses
1. Too bad you missed out on the run. What did your gem do during this timeframe??? You shudda listened to me.
2. See what I mean. Had you invested without your own DD you would have been screwed. I overlooked something which I never do but yet I made a mistake. Now you understand why I do not take anything at face value these days.
No phone call takes longer than 5 minutes these days before they get cut off because its done during market hours. I also find it interesting that few call back AFTER market hours when you request it. BTW, being an engineer, I want the 100 data points so I can use the statistics to turn them off in a second.
"Hey DUKEY BOY, I get these calls everyday from companies such as yours. And when all is said and done the collective hit rate for success is less than 10%. I'd be better off throwing darts at the Wall Street Journal." CLICK CLICK CLICK. IF they should call me back, it's the old 3 strikes and you're out.
Okay, off the soapbox, but I hope some of our conversation on this subject has enlightened others out there. I wager that I spend an average 15 minutes a day with these putzes but it is for my own purposes. I factor their picks in with the internet spamming, newsletter hyping, market letter stocks of the week and month, etal to come up with a short list of what to stay away from or to uncover a "wholesale" pump and dump scheme. All part of the research.
Andrew
PS-Mr Falling Knife picked up 1000 shares of ADPT for the $1 M portfolio at 38.50 this morning. Trade just cleared. Feels like a good solid average down. Will also average down at 32 should it hit that.
I have until close of business to determine if I margin or sell something to cover the purchase. |
