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Microcap & Penny Stocks : HYPESTERS CORNER

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To: Mr. Forthright who wrote ()	6/21/1998 5:50:00 PM
From: Mr. Forthright	Read Replies (4) of 339

I have been involved with the market in one way or another for several years. When I started investing the internet was just a gleam in the programmer's mind. I had read a lot of books about investor psychology, and attended investment conferences. At the time there were no medium to see small retail investors minds at work on a real time basis. The internet changed all that. Anybody with a computer can now see man's fear and greed at its worse as it happens. Reading investor's posts on Silicon Investor probably tells more about human nature in an hour than reading ten books about human psychology. When I first started reading SI I realized that if the profile of the average SI member was similar to the profile of the average American stock buyer, this market was in trouble. This country's economy has been built by long-term strategically thinking entrepreneurs, not by the unsophisticated short-term greedy investor that is so prevalent on the internet. In one of the books I have read many years ago I found a description of today's average investor: "I never hesitate to tell a man that I am bullish or bearish. But I do not tell people to buy or sell any particular stock...But the average man doesn't wish to be told it is a bull or bear market. What he desires is to be told specifically which stock to buy or sell. HE WANTS TO GET SOMETHING FOR NOTHING. HE DOES NOT WISH TO WORK. HE DOESN'T EVEN WISH TO HAVE TO THINK. IT IS TOO MUCH BOTHER TO HAVE TO COUNT THE MONEY THAT HE PICKS UP FROM THE GROUND." The author of this book would be shocked to read what is being written on internet chat rooms. He probably didn't realize when he wrote that book about 75 years ago how true his words were. I have tried over the last several months to explain the different techniques used by unscrupulous stock promoters to suck people into buying worthless securities. I am happy to say that dozens of investors have privately thanked me for this. I should also point out that a minority has sent me public and private messages complaining about my posts. Until yesterday afternoon the whole thing appeared to be an educational process for everybody: me realizing how gullible the average investor is and, the average investor realizing how he was getting sucked into promotes. However, everything changed yesterday. After getting a veiled death threat in the afternoon I got a direct one by private message last night. That message means one of two things: I happen to write about a stock that had mob connections or somebody that has just lost a few dollars is seriously mentally deranged. I do not wish to know which of the above is true. I felt it was my duty to consult my family about what could just be a stupid prank. They unanimously told me that my presence in their life was more important than saving a few "green" investors from their own naivete. As a result it is with some regret that I will discontinue posting valuable information on certain threads. As I have received a lot of positive feedback from a lot of SI members I will still be around to offer insight and advice. But I will, as you will understand, have to be a little bit more selective about the promotes I uncover and bring to your attention. Forever Forthright, Yours truly, O.B.

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