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Pastimes : Georgia Bard's Corner -- Ignore unavailable to you. Want to Upgrade?


To: Binder who wrote (4130)7/24/1998 8:49:00 AM
From: CharleyMike  Respond to of 9440
 
(sotto voce in rude interruption)
Binder, if I could write like that, I'd do it for a living. Thank you.



To: Binder who wrote (4130)7/24/1998 9:17:00 AM
From: Ga Bard  Respond to of 9440
 
WHOA!!! Good post! You are correct that a company is suppose to fully disclose any promotion and so forth. I am bookmarking that post for the conventional wisdom anaylsis. Great title for a chapter.

A friend and real world mentor told me last night, "The internet is becoming notorious for plebeian aggregation to appropriate sustenance for rationalization." LOL ... Talk about a seventy-five cent sentence when all he was saying was the internet gathers people to gain support for a thought. When it comes to someone character it is simply a gloried way of saying lynching mob. History has demonstrated there is always someone campaigning for support. Another point he was making is that the using word power one can actually gain support of those that follow words. One's rhetoric ability has been and always will be a force to deal with in our society. An example of this is frivolous lawsuits by shareholders.

To me a view is a thought or idea that has not yet been personally experienced whereas an opinion is the thought process based on exposure and experience. Example: at 18 I had mostly views and very few opinions whereas at 45 I possess more opinions. Take abortions until people have had to experience it first hand they only have a view because after experiencing this dramatic life event they typically discover their view has changed 180 degrees. This where major clashes develop in communication. Some flat out refuse to educate themselves and expect for people to respect their views regardless if they can support them or not with facts. They love using words like honest, legit, moral obligation, etc. Power words that have an impact on what they are saying.

One attorney told me that a stock is like a car. If it is registered then it is legal to trade it. Regardless what people think it is an asset like a car or a house with a value. You can buy a car or house from a broker, person, crook, retailer, wholesaler, whatever and you can sell it anyway you want or give it away if you wish. Of course if someone gives you a car for promotional purposes it has to be disclosed. Lemon laws regulate the sell of cars too.

There was an article that I am going to try to find that I read where discussing the broker industry fading fast. For years brokers have been charging outrageous commissions and held harmless for their investment advice. Win, loose, or draw they get their commissions. Same applies with car dealers. Why would anyone want to pay high cost broker fees and commissions if they do not have to? Houses are the are the same way also.

The internet loves to generalize instead of doing one thing I have always try to get people to do and that is focus. If I get a focused naysayer I know, since every single OTC stock can be naysayed, things are going to heat up and I am about to learn something. Discuss, debate or even argue your investment while verbally warring pros and cons. Of course a lot of people prefer the upside and do not harp on the negative which is typical. Poor naysayers accuse and slam a stock without facts or use the past to slam it where others use facts.

Naysayers with facts and DD are hard to defeat where other naysayers are transparent with ulterior motives. Blaming SI, private investors, market makers, companies, does not make up for the simple fact that even after redundant warnings people still sre making the same mistakes and still wanting to cast blame.

Again common sense and doing your homework is the only answer.

Hey I could be wrong.

GB




To: Binder who wrote (4130)7/24/1998 10:42:00 AM
From: Janice Shell  Read Replies (2) | Respond to of 9440
 
Excellent post! You've brought up some very important points. But...

Also, CONVENTIONAL WISDOM dictates that a paid promoter is required to identify themselves as such. However, the only entity that a paid promoter is required to report anything to is the IRS...

Not true: I don't have the reference at my fingertips, but the 1933 Securities Act does require promoters to make very clear their connection to the company every time they make a public statement about that company's stock. Section 17b? Something like that...

A firm's IR or PR person cannot, for example, pretend to be a "investor" and start a thread here at SI on which he hypes the stock. There was a case of this some months ago: a truly idiotic contract IR guy started THREE threads for the stock in question, and hyped like crazy. Since his name showed up on the company's press releases, he was easy to expose. This was a clear violation of securities law. First he became angry, then he got himself suspended. Made a real fool of himself. The company is now using a different IR person.