Walter and ALL: Before printing hearsay, it might behoove you to flesh out the facts a bit more and get both sides of the story. FYI, below is mesa's response to the accusations made on SH by a poster of comlete unknown origin and background. Walter, I know you are long KRY and were unwillingly hooked into the emotional pitchfork of this unknown poster, but it still shouldn't permit you to forego caution and appropriate discretion when dealing with others' reputations, even if you were just copying what someone else wrote. Most should be lucky enough to ever encounter stock advice from such a principled individual. Again the below is mesa's response on SH to the accusations against his background. I did not write any of this.
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n response to Mr Stayrich (how did you ever get rich anyway?) and the poor level of so-called
due-diligence exhibited by same (now a matter of public record here and God knows where else), I
would first suggest that you retain legal counsel. Unlike myself who has posted fact as fact and rumour
as rumour, you have publically slandered and/or libelled at least me in your post, with an obvious intent
to defame or cause malicious damage. I know you have a self-interested motive for doing so. That too
will become a matter of public record.
It is well known by many here who I am and the contributions I have made. I certainly have nothing to
hide from anyone and always made my email and my name available on several link sites for parties to
get in touch with me. Until recently, due to an overwhelming amount of email being received, the
oft-referenced "Winner's Circle" site where my weekly charting and comments get posted came with a
nice little reference to me and my newsletter. My record here over the last year and with my newsletter
subscribers for the last 3 years is a matter of public record and one I'm very proud of. What do you have
as a claim to fame other than a penchant to harm? Why not tell all who YOU are and why you seem to
care so much .... hmmmm!? Or will you leave it to others to post same?
OK, let's talk turkey ...
Firstly, I sure did have a lengthy disagreement with the VSE. I have had absolutely NO problems or
incidents with the Superintendant's office. In my 11 years in the brokerage business I have had one
lawsuit to deal with which was amicably settled and dropped. I was a vice-president of a brokerage firm
and received their broker-of-the-year award in 1994. I have a professional designation and a commerce
degree. I am not now nor have I ever been a promotor of any public stock. I AM guilty of occassional
enthusiasm and even supportive statements concerning deals I find that I like, for their upside. Pure and
simple. I have many friends and relatives who rely on my work and I love to do it! These "forums" are a
new and added tool and I am hooked!
I wish to clear the air here and therefore willingly provide a little detail here for all to gloat over about the
VSE incident. It was a lengthy 3 year fight that probably surprised the VSE somewhat as I fought them
tooth and nail. Why, because they were very wrong in their accusations and perceptions. This was
proven to the satisfaction of a VSE panel, but, given the investigator's zeal and loss of face on the
original premise of the investigation, their determination to find whatever they could to take me down
resulted in a long and acrimonious hearing ... indeed the longest and costliest in the history of the VSE
I believe. I was fined $50,000 and had my Exchange Approval withdrawn for 3 years. The proven
infractions were very secondary issues but nonetheless deemed serious by the hearing panel. While I
disagreed with even these findings, it was apparent you can't fight the unlimited resources of the VSE. I
did not appeal the decision as I have absolutely no interest in being a broker, and personally found out
how the system works for the power-elite and how they can destroy any up-and-comers. I am not bitter
about it, but indeed alot wiser for it. This was a further adjunct to my lengthy education.
"Stayrich" is 100% wrong when he states I have troubles with the Superintendant's office, wrong about a
couple of lawsuits, wrong in his insinuation I am part of the company FORAN, wrong in his statement I
am part of a paid promotor team for Foran. He is also dead wrong on so many of the other Foran "facts"
he has stated that this topic will have to be dealt with seperately, in another post, on the Foran site. It is
good that "Stayrich" has sold his 20,000 Foran shares as I will be one of the first to come back and
laugh at this clown later this year.
The reason I keep strongly urging all to do their due diligence is very simple, neither I nor anyone else
should be relied upon for making an investment decision. When I do DD I visit the company and spend
many hours with management, financial data and getting opinions from people who know more than I.
Especially with the junior companies it is a people business. I am fortunate to know many and be in
Vancouver to do it.
My newsletter was started May 10, 1995. As at Jan 26, 1998 the model portfolio is up 239% since
inception, 26.5% since Feb 3, 1997 (1 yr), and 8.4% since Aug 4, 1997 (6 mo.'s). It goes out every
week. No, I am not looking for new subscribers thank you.
Interested in what the VSE's findings were and why I got my wrists slapped? Hey, what the heck ... I'm
on a roll now:
1) 2 off-the-floor trades when I gave a building contractor shares and a relative shares because of her
losses and some payments.
2) Authorized discretionary trading for some family accounts, even though the clients said I only
executed their orders, the VSE deemed the orders to be too vague.
3) Signing a family members signature, with their written authorization, on several private-placement
documents.
4) Having a conflict of interest (although not having taken advantage of it!) between myself and some of
my clients.
5) Knowingly participating in the use of deceptive and manipulative methods of trading (I was a
market-maker on a deal). The panel qualified this finding by stating I did not drive up the share price, but
did keep it active and "presumably" kept the share price from falling.
6) Debit-kiting with respect to 2 clients (out of 420!). This one was interesting since the clients involved
testified (one was a lawyer) that there was a change in beneficial ownership. Never were cash account
rules breached!
7) Pre-signed documents from a relative were completed by me, albeit with her permission.
There were another 7 counts charged, none of which were found.
The Panel went out of their way to state that: other than the "debit-kiting", my misdeeds related to the
operation of family accounts and my honest enthusiasm for a deal I was involved in; that was certainly
not a scam; that it was not an effort to create "something out of nothing"; that I was not a thief; did not
engage in a stock exchange scam nor that I tried to defraud my clients.
So ... there it is, my skeleton in the closet. This is public record folks. I was wacked because I failed to
show remorse and did not admit any guilt. Well ... it's a good thing considering what they tried to charge
me with. To say I wasn't prepared to roll-over is putting it mildly. I would challenge ANY broker to go
through a 3 year "investigation" and come out unscathed. This was a witch-hunt, but that's another story
... maybe I'll write a book ;-) .... I know many (very senior members included) in the VSE culture who
would have sleepless nights with that thought!
Rob ... nope, I'm not going away ... having too much fun ... out (credits to Barnegat for the sign-off)! |
