As further disclosure, since Gayle's opinions are off the mark, I am a believer in microcaps, however won't touch another bulletin board stock as long as I have a dollar left, I swear. If it's not listed on NASDAQ or NYSE (I don't like AMEX usually) and its financial filings are not complete and up to date at the SEC site, then forget it, there are too many other decent stocks out there.
Over the past six months, I have more than made up for my losses in GIFS, despite some losses on several penny stocks that I finally accepted. Now, the penny stocks and bulletin board stocks are entirely out of my portfolio. Successes include EPIQ (70% gain in 7 weeks); MDC (NYSE listed, 12% gain in 3 weeks); SOCR and MSON (secondary positions, made about 20% to offset losses in early position I held too long); PURW (about 30% thanks to a nice article in WSJ); and most recently MDLK (up 23% in two days, so far, fingers crossed). I did make about 100% in RUDY (on the bulletin board) thanks to a buyout, but this was a local company that I knew well, a lesson I won't forget. I am a fervent follower of CANSLIM, as described in Wm O'Neill's book "How To Make Money In Stocks", and since GIFS have gone back to my roots, and have made money! Failures and mistakes: holding original positions in MSON and SOCR too long, just got stupid greedy. Two other mistakes before I learned my lessons: CYGS (bulletin board, but did hold long enough to nearly break even, and another day would have turned a profit) and MTCI (another NASDAQ stock that later became a BB one) (but at least I finally did my homework, and bailed out for a 50% loss only hours before it would have become a 75% loss).
Do I make recommendations?? NO! Do I have clients?? NO! (In fact I have turned down several investors asking me to take control of their accts, one in excess of a million dollars, as it would be a conflict with my day job). Do I know what I am doing?? I like to think so, and the net equity in my several accts suggests that I finally do.
I am an active member in a private CANSLIM discussion group on the net. Aside from this, I do very little posting. I have been a member, and nearly a charter member, for over a year. My opinions, while not always in the mainstream, are respected as coming from a seasoned investor and a professional in the securities industry. I tell it like I see it, much like Ken Todd is attempting to do without the securities experience that many of us have. That is my truth, I don't pull my punches. My personal portfolio was always open to my clients when I was an active broker. My clients knew I didn't BS them, all they had to do was ask, and they could see it. And in seven years as an active broker, I never had one client question my word, nor file a complaint.
While I resent Gayle's snide innuendoes, I remain mature enough to consider the source, and disregard them. I have nothing to gain from seeking resolution of the GIFS scam, and that's what it was, but the same thing as any other shareholder: recovery of our losses, or at least holding the perpetrators accountable. I do walk with the angels. I give no one, and no agency, any quarter. If they're responsible, let them admit it, or suffer the blame later.
If anyone wishes to take over as SAC moderator, I will gladly relinquish the job. It was not one I sought, nor wish to continue. But so long as I am in the job, I will continue to put the best interests of the shareholders ahead of anyone who may, in any way, willingly or unwittingly, have contributed to this scam.
tom w |
