Knight, concerning the SKB.
At this point it seems we investors were taken by the company chairman and a certain Toronto promoter/financier. Offshore trading etc.
Our beef started to take form when we couldn't get any straight answers...anywhere...
I submit two posts from Stockhouse worth a read.
I was worried that investors are to self absorbed and only use
$$$$$ as the bottom line.
It is one thing to run a fair race, and another to blatantly allow
and facilitate fixing them. In horse racing, crooked jockeys, trainers, and ilegal druggings interfere with the integrity and the sport.
It is one thing to lose fairly, another to be taken.
Of course some people will win on a fixed race.
That is not the point.
Of course you are welcome to trade June 5th, I won't.
As well, I am contacting the Vancouver Sun and Province tomorrow.
To me, it is a matter of principle.
I can survive my losses on SKB, but that isn't the point.
I am personally challenging the VSE managerial style, implementation
or lack of implementation of policies, continuance and history of
scams, shoudy promoters, stock manipulations, and the lot.
You do make some good points, however, we are approaching
this one from different perspectives.
I won't trade on June 5th regardless of any profits that I may be able to make.
Monday June 8th the markets will be open and trading as usual.
I can wait. There are probably 360 other days to trade this year.
Black Friday is a show of investor solidarity.
And
I congratulate you on the effort to improve the lot of the indivdual investor. I am not nor have ever beena SKB shareholder, but like virtually anyone who has traded speculative stocks, have expirienced my share of frusteration with the system. My question is why stop with the VSE? It was the TSE responsible for BREX and YBM. How about the refusal of Canadian exchanges to move towards direct electronic order entry to lower the costs of the small investor, encourage more competition from south of the border and help level the playingfield between the pros and us. What about the mutual fund industry with the Hirsch's and Mersh's? There is lots of blame to go around, so hopefully your protest will only be the start.
Another point, as I have pointed out on some other threads that 90+% of posts on these threads are positive, while we all know 90+% of these companies are never going to amount to anthing more than
a briefly inflated stock price. Why is that? Why do we help the promoters with their work? There should me more posts critical of companies (BEFORE the disaster is clear). Help other small
investors. If you have any BAD information about a company, whether you own it or not, post it (the insiders already know so why not let the other little guys in on it). Yes, negative posts are seldon
appreciated, but if we can use this medium to help each other as opposed to cheerlead for our favorite stock we will all benefit. Maybe next time someone will alert you to a problem with your favorite.
I have been burnt a few times by such lax rules and possibly due to the fact that the brokerage firms really do dictate what goes on at the exchanges.
Adrian will be in touch with some of the media in Vancouver. CBC's "The Fifth Estate" has apparently been following the SKB story and will be made aware of our dilemma. |
