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Non-Tech : Hall of Shame (naysayers, hypesters, MM henchmen, gasbags)
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To: Adrian du Plessis who wrote (214)5/18/1998 6:13:00 PM
From: mod  Read Replies (1) of 417
 
Two guys who write for thestreet.com were recommending YBM Magnex a while ago, and had this to say today:

<<Investigating YBM's Troubles
Another stock that started a serious reversal is YBM Magnex (YBM:Toronto). We wrote about this stock in a previous column, where we stated that we thought it was a buy. It fit all of our criteria. It looks like we got sandbagged on it, though. From the information we have so far, YBM is being investigated by the FBI due to its connections with individuals who are part of an ongoing criminal investigation dealing with fraud and money laundering. These individuals apparently have links to the Russian Mafia. From the chart, you can see that the stock really got hammered. Unfortunately, we did not liquidate our entire position because the stock has ceased trading for two weeks pending the outcome of the investigation. We have to expect the worst, which means the stock goes to zero.

Greg Guichon and Michael Soni, along with their team, manage money internationally on behalf of high-net-worth individuals and institutions. Guichon and Soni, who are based in Toronto, invest exclusively in Canadian stocks. Their column appears every Monday in TheStreet.com. Under no circumstances does the information in this column represent a recommendation to buy or sell stock. Your email is welcome and may be sent to michael_soni@scotia-mcleod.com.>>
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