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Technology Stocks : Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE!
RACE 393.84+1.9%Dec 3 3:59 PM EST
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To: MulhollandDrive who wrote (30549)1/27/1999 12:50:00 PM
From: TheLineMan  Read Replies (1) of 33268
 
Off Topic
By the way I believe you were asking how stock manipulation is achieved. I saw a great documentary on "The Ponsi Scheme" the other day, detailing who he ripped off almost everyone in Boston. Although he wasn't selling stock, but investment certificates in his money making scheme - I believe there are a lot of similarities.
Here's what I think you need:

1) A great idea - or something that people can relate to and understand easily - screw the impracticalities. Ponsi's scheme was to import US postal coupons from Europe where they could be bought at a discount and then resold in the US. Kind of an arbitrage deal - but he didn't bother because the cost of paying people to stand in line and the ship them back to the U.S was prohibitive.

2) Great PR - the man was a master apparantly. When he was investigated by the police he even sold them investment certificates. Most of his investors never cashed in but just let the investment ride.

3) Nerves of steal - when exposes appeared in the paper citing the whole thing as a fraud and a run began on his certificates. He calmly opened the doors and kept them open - redeeming (buying back) his certificates. If he was buying them back then everything must have been OK - No?

It really was a fascinating documentary - I didn't catch it all. But it is certainly worth watching.
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