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Pastimes : Is SI a Pump & Dump Palace? The TRUTH on SI Gurus?
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To: Binder who wrote ()4/19/1999 12:41:00 PM
From: Jim Berg  Read Replies (1) of 91
 
Pump and Dump isn't new here,
But has increased in frequency as people hopeful of
a winner are chasing the internet stocks around.
It's sad to think that so many people are going to loose
out, When taken into consideration that the losses will
be carried by "naive" investors who for the most part think
these companies are a long term investment.
SI at least has balance " I am beginning to wonder " in as
much as those with some savvy protest the unabashed hype.
I am not saying that there isn't money to be made in these
stocks as long as the person knows what he or she is doing
and is buying in on " Knowledge of how others will react
to a particular stock " And ***knows when to get out.***
But lately with all the news media hype the unknowing are
being enticed to risk it all in the hopes of windfall riches
Which as almost everyone here knows ....seldom happens.
The real opportunities are in those companies in industries
that have for the most part been ignored over the last
eight or nine months.
I think SI should provide a page to instruct the newcomer
" and some of the rest " as to what to watch out for.
And I think Netstocks need an injection of reality.

I see Bulletin Board stocks touted as the next Ebay.com
this is happening wholesale on Usenet misc.invest.stocks.

I see the stock of established companies that start a website
skyrocket. Why I have a web page it isn't making me any money.

I see IPOs take off like fire, open 5 times beyond reality
and go up from there. Sorry the only winners got in early,

I see people including usually stable investors betting
on hope, rather than investing in reality.

But this happens every time a new industry gets recognized
It happened with the S &Ls, and Comp hardware, in the 1980s
Comp software in the early 1990s ,Oil and alternatives
in the 1970s,
Are the people promoting it dishonest or are there just a
lot of dreamers out there. They know their playing in a
house of cards and they hope it doesn't fall down while
their in it ? In most cases this is so.
Eventually These companies will be judged by equity, earnings
and growth, just like all the others. The numbers do matter.
Everyone should take notice of where the fund managers and
professional investors are buying, They are not buying internet
stocks but putting the money they are entrusted with into
those companies with a future. Their jobs depend on performance.
I think the real winners in 1999 will be those that search out
and invest in the many extreme bargains currently available
Ironically because of the dubious rush of money toward
Internet stocks.
Everyone has an investment in SI we paid to be here, and
the truth from each of us makes this place a reliable
resource for everyone.
Long winded post I know, But I've been bugged by the topic
for some time now.
Jim
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