Mr. Alan Markoff:
Thank you sir for your most timely and badly needed post. I concur with your sentiments completely.
Lately, I have come to realize there are persons posting to SI as "private" investors; who MAY not be private investors at all. I have learned that it is common practice for many companies to compensate some individuals for what they refer to as "DD; meaning due diligence.
It appears there are individuals, such as you mentioned, and others who are being paid with stock and cash money on a monthly basis in some cases. These people are not disclosing to the real individual private investors; the little guys like us who work for a living in the real world, that they are receiving compensation; let alone how much.
Not only do I agree that SI <Jill> should get a handle on this mess by forcing them to declare their true identity, and purpose, but to CHARGE these people a MUCH HIGHER FEE. They are operating a business and / or making a living via this medium and should be PAYING for the privilege of addressing the investors that this board affords them.
The reason they want to post on SI is because of the ready made market for their product <STOCK> I strongly doubt they would be getting comparable market coverage for $200.00 for a LIFETIME MEMBERSHIP anywhere else.
The honest promoters <if there is such a thing> will have no problem disclosing their status. To others who are company shills who disapprove of disclosing your status and compensation, may I suggest you go start your own business and tout to each other elsewhere; thereby leaving this forum for the true individual investor.
There are those among us who easily brush off personal disaster suffered by others; who have taken their advice. The justify their actions with many unkind words directed at their victims. They bash the victims <sheep they call them> telling them to take responsibility for their own actions; while it is true, we must all take personal responsibility for ourselves; however, DIFFERENT decisions may have been made or NOT made by the victims, had they KNOWN that the main guru on the thread offering up the most DD was in fact being paid to do so.
Prior to joining SI, I read posts for a couple of months and I had NO idea that anyone on the forum was a professional or paid by a company. Had, I known then what I have since learned I would not touch many of the companies with a ten foot pole.
Don't misunderstand, I am not saying all are bad. There are many threads that I feel are started by genuine private investors who own the stock and want to get a dialog going on it to exchange ideas and information with other shareholders. This is what I though SI was all about;so I joined.
I can honestly tell you Mr. Markoff, I am a private investor. I do not hold a single share that I can't produce records for. I think SI and its intended purpose is great for the private investor as it affords us the companionship and sharing with others of like minds.
I am a wiser and more sophisticated investor than I was prior to joining. I have made some wonderful trusted friends who I will treasure for a lifetime. I have met some who are not trustworthy; it takes all kinds to make the world turn; that's life.
I do feel there are many honest and good people on the SI forum that are responsible and while they may get wound up about their favorite stock(s) they hold it is far different than outright shilling and touting for hire.
Mr. Markoff, you are right there will likely be liars who will not be honest and disclose their true purpose on the SI forum, but by making a public statement they could be held accountable if called into question. If they are found to be dishonest they should be banned, forfeit their membership and a claim filed against them with the SEC.
There definitely needs to be a PUBLIC DISCLOSURE statement filed by any person who is compensated in any way whatsoever; regardless of the amount. There should be no changes made except by a written notarized document.
I truly believe, many on the threads, could do MUCH to protect their threads. I seems the honest victims fade away into the background and allow the loud mouths <most likely shills> to bash, intimidate and in general make a monkey's ass out of themselves; thereby driving the decent among us into a lurking mode. This is unfortunate.
SI <Jill> is providing a service; this is a business to be sure. However, I feel she cares a great deal about what takes place here; no business wants a black eye.
It is my personal hope that Jill, will consider instituting additional policies that would do much to level the playing field for the true private investors.
Regards,
Dusty
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