The McCarthy's
or
Rory and what's his face
The Balloon guy's.
Branson's friends, yah those two.
A Tale by Graystone
McCarthy was the first stock I actively tried to "hype" on SI. A good friend of mine had actually purchased some of the stock. As a registered shareholder my friend began to receive shareholder information, and we would confer about the direction of his investment. I couldn't find any of the great news posted anywhere.
I learned some things didn't work right then as well, I think I started three threads, each with a *** beginning so they would go right to the top of the category page and all basically the same as this one. Much to my surprise, someone deleted all the others, and removed the little ***'s from this one.
You can see exactly where we were in the loop in my postings to this thread. It may pay to remember that "McCarthy Corporation PLC" is a direct descendant of the QZAR:TSE owner, McCarthy:ASE.
QZAR was a huge debacle, it became evident well after the sale that the company was valueless. The monies paid by management to the McCarthy interest probably represented the very last of the equity involved. QZAR has since been delisted and was basically an accounting "pipe dream", there never was any of the claimed revenue. The McCarthy involvement was very evident in QZAR burn and crash. QZAR went from C$6.00 - C$7.00 to pennies.
McCarthy stock no longer interests me after seeing the results of the QZAR dealing's. I learned a valuable lesson about interpretation. In a case like MCY_QZAR, everybody gets burned. It is evident in retrospect that deluded accounting was responsible. These kind of deals harden novice investors, and make institutional investors more wary. I never lost any money on this deal, but my friend did. He should have tendered on the first move up past C$1.50, he didn't.
So we live, we learn. Branson has a history of success, but I wouldn't hesitate to un-recommend this stock to anyone today, or at any point in the future, not because I don't believe they might have a future, but because I learned from their past. |
