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Non-Tech : Hall of Shame (naysayers, hypesters, MM henchmen, gasbags)
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To: Mr. Forthright who wrote (213)5/18/1998 6:09:00 PM
From: Adrian du Plessis  Read Replies (2) of 417
 
Dear Mr. Forthright - I appreciate your kind words. I've always approached this business with the hope that reforms would come about through publicity of the systemic failings. Case histories like YBM Magnex, as well as being fascinating in and of themselves, highlight the sort of problems in the mutual fund industry etc. you've pointed out. My view of the internet is that it does provide a forum for all sorts of garbage - but it also helps connect people to bring about positive information sharing. I've seen a lot of good developments in this area. (On the Bre-X thread last year, the brother of company chief David Walsh was "outed" as an SI tout using pseudonyms to cover his aggressive campaign, firstly, to pitch Bre-X stock and, later, to whitewash the role of his brother in the scandal. The Bresea shareholders group actions have benefited from the internet as well. There are many other interesting examples that give me hope rather than despair concerning the longer term effects of this medium.) And - as long as sites such as SI, and the usenet digests at Deja News, for example, remain archived in perpetuity there will always be an audit trail of those scam artists, hypesters etc. etc. that can help investigators and investors learn about how the market works - and who is behind specific schemes. It's a battle to balance out these forces so that the public can benefit in the end.

I'm an eternal optimist!
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