Can SI Members Really Manipulate Stocks? Message Board

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Pastimes : Can SI Members Really Manipulate Stocks?

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To: Patrick Slevin who wrote (315)	8/4/1998 7:57:00 AM
From: Robert F. Newton	Read Replies (1) of 461

Patrick: I don't have much sympathy for the "boiler room boys". Two of my roommates whom I lived with in the early 80's (after I graduated from Drexel) used to work for First Jersey Securities. (I believe I remember that you said that you used to go to the same secondary school as BB).. Some of the stories these guys would tell me blew my mind and I became very skeptical about brokers and the stock market in general. I wouldn't be able to sleep at night if I had to employ their tactics on a daily basis. I guess it caught up with them as well as both lasted less than 12 months @ FJS................ I also used to work for a holding company in the mid 80's who used to trade on the pink sheets and was amazed at how the stock rose based on the hype and PR that were generated. The stock actually became a 10+ bagger before it finally got buried after the 87 crash. (it eventually was delisted and I was holding a lot of stock options that were had a worth of wallpaper ;) Because of my new found skepticism in the market, my primary investment in the 80's was in real estate. The little I had in the market was in blue chips and mutual funds............... I finally got in the market full time in the early 90's however I am still a believer of "If it's too good to be true; it probably is" school of thought. There are a lot of good people on SI (Yourself, Jeff, AV, Hansen, C.K. Houston, etc) who are willing to share their thoughts and experiences without an agenda. Unfortunately, there are many on these boards who prey on the innocent and the naive.. (Shawn Murphy et all)..............Their own greed and the thought of easy money is their downfall..................... Just wanted to throw in my 2 cents Have a good day.................See you in October in Chicagoland. Regards, Bob Newton

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