Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
I don’t know of any who ever bought pennystocks (mebbe Doc Contango?), butt Shirley there are some.
Surely you remember Dr Jim "The Dentist" DeCosta? He of the thousands and thousands of pages of rants about naked shorting? And he's still around, though not as popular as once upon a time.
But I think it probably does in part have to do with the fact that most do think they're smart, and are used to being deferred to. They believe that if they can understand whatever their branch of medicine is, they can quickly learn about other subjects. The author of one of those articles said as much, and I think he's right.
How can one person insult so many people so many times. Life is not the way it was when you grew up, you can't just get a good job, buy a house, buy blye chips and sit and waIt 40 years and live the dream.
Funny as hell... https://www.cnbc.com/2022/08/18/activist-investor-ryan-cohen-completes-planned-sale-of-bed-bath-beyond-stake.html
https://www.sec.gov/Archives/edgar/data/0001822844/000092189522002496/sc13da313351002_08182022.htm
Cohen originally purchased his shares of Bed Bath & Beyond at an average of roughly $15.34 per share. According to CNBC calculations, Cohen made about $59 million, before brokerage fees, on his trade of Bed Bath & Beyond common stock. He may have made additional profits on the options.
Not off topic at all...that kind of crap has been happening for decades ... another very recent example here ... https://www.ftc.gov/news-events/news/press-releases/2022/08/ftc-sues-marketer-personal-protective-equipment-light-fixtures-lying-about-products-being-made-usa
https://www.thomasnet.com/insights/new-made-in-usa-rule-passes-discourages-fake-made-in-america-claims/
As well as ....:
The FTC found three cases where products made in China were falsely labeled as produced in the U.S. Among those products were military-themed backpacks manufactured by Sandpiper/PiperGear USA – which were actually being sold to military bases overseas. Hockey pucks from Patriot Puck were found to be imported from China and mattresses from Nectar Sleep were found to be made in China – despite being branded otherwise.
https://www.foxbusiness.com/economy/american-manufacturers-want-crackdown-on-fake-made-in-usa-labels
And from 2015...:
In fact, both American and Chinese consumers are willing to pay at least a 10 percent premium for “Made in USA” goods, including baby food, appliances, electronics and apparel, according to research from the Boston Consulting Group.
https://www.cnbc.com/2015/06/03/some-almay-simply-american-makeup-made-in-china.html
Off topic alert...but
This is funny shit...
A Utah based company that sells apparel emblazoned with pro-Trump, pro-gun slogans, has paid a $211,335 fine for replacing the "Made in China" tags on its clothing with "Made in USA" tags. Under a settlement with the Federal Trade Commission, the company must notify all costumers of its deception--including purchasers of its "Let's Go Brandon" cap and "Give Violence a Chance" T-shirt.
Printed in The Week mag, 8-19-22
"Bad Investors: Single Men and Investing Clubs"
---------------------------------------------------------
* Men traded 45 percent more than women.
* Turnover reduced net returns by 2.65 percent per year for men versus 1.72 per year for women.
* The turnover of single men was 67 percent greater than that of single women, presumably because of the lack of influence of a more cautious spouse.
* The increased turnover cost men 1.44 percent per year.
* Both men and women underperformed market and risk-adjusted benchmarks.
* The stocks that both men and women bought trailed the market after they bought them, and the stocks they sold outperformed after they were sold. Both sexes would have been better off if they had simply held the portfolios they began with.
* Those that traded the most performed the worst.
https://www.cbsnews.com/news/bad-investors-single-men-and-investing-clubs/
More dreadful investors... Investment clubs
In the late 90s at the sunset of stock investing clubs we'd hear about successful club portfolios. One folksy group of old ladies in rural Illinois even had a series of best-selling books published about them. But their claims of fabulous success didn't hold up to rigorous audit.
People ** in groups ** are dumb. Investing clubs choose exciting, fun stocks making current headlines... like EV stocks. RobinHood holdings lag because HOOD amounts to a sort of investment club. Savvy investors who know better will "go along" to please the group.
How have the Beardstown Ladies done recently? They still exist I think, but they've been mighty quiet.
Great investing isn't often accomplished by committees at social meetings. Great investing is slow and boring.
Sharps goal may just be to get it Pink Limited and then Current, then discharged. At that point it will likely run on the hype to .10 - .15 and he can dump his shares
doctors are awful business investors. I have dealt with lots of investors in private companies often consulting them when things ain't going so well. - when they just let others manage their money they do great. when they think they can do better by investing in some buddies crack pot scheme is when it goes badly.
Ill add in pro atheletes tend to be poor also and yes I know we have lots of success stories like MJ and Shaq.
engineers are far too analytical to do a deal with LOL. Try selling a business to an engineer. jesus christ how many more ways to you want me to change the contraints on that inventory turns report???
Very possible, butt I have rarely run across one on a pennystock chat site.
Plus many docs use financial advisors to handle their investments. Docs do nott have a lot of free time to research and pick individual stocks and follow them closely. Some try and, as your lynx point(s) ~OUTT, often are unsuccessful. They do nott teach finance or portfolio theory in med skool.
I don’t know of any who ever bought pennystocks (mebbe Doc Contango?), butt Shirley there are some. Butt compared to the entire population, I suspect docs are vastly underrepresented in the subpopulation who have bought pennystocks.
And, IMO, there are a lott of docs who are nott particularly bright. I have many stories to tell about this from firsthand experience. Man, I have enuff inside baseball stuph to make one tell the EMTs to skip the hospital and take them directly to the mortuary. Cutt~OUTT the middle person.
shajandr’s financial advisor/guru - he is telling me to invest in several cases of Redd Moose energy drinks and he will maintain custody of them for me - his fee is 2 and 20 (on top of the Redd Moose energy drinks
Similar deal with lawyers, physicians, CPAs, engineers, and other professions that require rigorous logic, attention to detail, skepticism, evidence-based investing/financial/resource allocation, and objectivity in analysis. These folks generally can be considered the anti-pastors with regard to susceptibility to pennyscam investing (aka pennyvesting).
I've always heard that doctors are notoriously poor investors. According to Forbes:
Diagnosis: Physicians should be crackerjack investors, but they are not. Overconfidence and gullibility make them easy marks for financial salesmen, whom they mistakenly assume to be seriously credentialed professionals like themselves, and not boiler-room bunco artists.
https://www.forbes.com/sites/phildemuth/2014/03/11/how-should-doctors-invest-new-fidelity-study-weighs-in/?sh=50e5d4644ab0
And another:
The number one obstacle to good investment performance is probably overconfidence. In residency I couldn’t stand my senior residents and attendings who thought they knew everything. I still see this in private practice—you know the EP, the one who, when you sign patients out to him, thinks that the diagnosis is SO obvious. There was a survey taken once that asked drivers to rate their driving ability. 80% of drivers thought they ranked in the top 30% of drivers. Similarly, numerous studies done on investor behavior show that overconfidence is pervasive—we think we are better investors than we really are...
https://epmonthly.com/article/doctors-make-lousy-investors/
IMO, all priests, pastors, rebbies, shamans, mullahs, ayatollahs, imams, etc. who (1) do nott have regular secular yobbs and (2) rely on their religion business as their main source of income, are knowing crooks who are as badd or wurst than pennyscam swindlers.
Religion-based affinity scams (like LOCH/CDEX was) are IMO among the more successful (i.e., wurst offending) pennystock scams.
All one really needs to scam someone is to get them to believe in nonsense that has no basis in reality and which due diligence cannot be used to verify claims. The Venn diagram group of those individuals will be highly enriched in such folks, as compared to real scientists (nott poseurs) who will be very scarce in that group.
It is similar to the reason that sucker lists of people who have invested in scams previously are worth $$$, because those people are much more likely to buy crap (another pennyscam or other con job) again than the public at large is to buy into a scam. Having already been swindled, they are still much more likely than the average person to invest in a scam.
I have been following pennystocks and pennyscams for over 4 decades. My experience based on forums like iHub/Ragingbull/SI/ etc. indicates that: (1) there are very, very few real scientists who post on the pennyboards (and are nott insiders of the scam!) and that is an indicator that scientists generally are very underrepresented in the groups of people who buy pennystocks. Similar deal with lawyers, physicians, CPAs, engineers, and other professions that require rigorous logic, attention to detail, skepticism, evidence-based investing/financial/resource allocation, and objectivity in analysis. These folks generally can be considered the anti-pastors with regard to susceptibility to pennyscam investing (aka pennyvesting).
It wood bee inneresting in a legit formal study of pennyvestors to see the frequency of various yobbs/careers and religious fervor (religiosity) among the pennyvesting herd and compared to the general public. Somewhere ~OUTT there their ought to be some scatologist ... err ...sociologist who would CONduct such a study. Hell, they prolly already did and bar1080 likely knows the results.
In 2017, an Alexandria pastor and his wife were convicted of swindling their friends and congregation at Victorious Life Church out of millions of dollars, The Post reported at the time. The couple promised those who invested in their various ventures — a microloan operation and business focused on the Nigerian oil industry — that they would make their money back or even turn a profit, all while boosting economies in developing countries. Instead, the pastor and his wife used the money to bait new investors, make payments on their $1.75 million home and pay for personal expenses, including golf games and pricey furniture, prosecutors said.
You know I love that quote: "When I complained that a simple index fund was beating “the algo” the response was, “we see now that you are not a good fit for our product.”
I have an appointment with a fin planner next week. Got to make sure at least one of the kiddos has some kind of trust fund safety net.
Fired the last bunch that claimed they had an “algorithm.” Market was up, at the time, 25%. They made 12% and took a 2% cut off the top.
When I complained that a simple index fund was beating “the algo” the response was, “we see now that you are not a good fit for our product.”
Wood, reminds me of that. Every so often the talking head pick an heir apparent. And I can’t help but think that it’s just another idiot that got lucky. Kind of like the infinite universe. There are only so many ways to arrange all the atoms.
Lord, won’t you buy me a Mercedes Benz. This guy missed his calling. He should have been a pinky CEO.
https://www.washingtonpost.com/nation/2022/08/18/missouri-pastor-luxury-watch-broke/
Cathie Wood FYI - she takes it in the keister once again - this time COIN. My opinion is that Coinbase will nott exist in 18-24 months. It will go LEHMAN and ENRON.
https://ih.advfn.com/stock-market/NASDAQ/coinbase-global-COIN/stock-news/88852798/coinbase-stock-here-s-why-cathie-wood-dumped-it
LOLOL!! Thanks for reminding us about Mr Diamond Hands. He really is... something.
LOL!! Perhaps I'll read some of the board later.
"Bed, Bath & Begone" is excellent!
It seems what happened to the company was similar to the meme stock craziness. I wonder when we'll see the SEC go after people for stock manipulation.
What was good enough for Monk is good enough for the Apes.
Basher Central Dispatch to Kingpin:
See the man regarding a domestic disturbance call, handle Code Three.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169726553
I think this is a bit clever: Bed Bath & Begone!!
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=169726606
Mebbe Mr. Diamond Hands could be called in to work as a CONsultant for BBBY and apply his savvy investment acumen to wright the BBBY ship.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=168884220
LOLOL!! That's good!
Ihub has officially changed the name to blood bath and beyond for what was bed bath and beyond.
"living in a van down by the river" sounds nice......easier to hide the numbskulls body,
’What will I tell my wife?’
Tell her:
1. There is no point to divorce because there are no assets to divide nor any to pay the divorce lawyer(s).
2. That living in a van down by the river is not only an opportunity for adventure butt is superior to the living conditions of people during the first 95 percent of human species existence.
3. (Tell her) To gett a yobb. Naw, tell her to gett two.
4. Her massive collection of shoes must be auctioned to buy groceries and pay utility bills.
5. That you will win it all back plus more with your latest pennystock picks.
The other side of BBBY, yesterday at $26.00+ to $10.76 after-hours today:
An I-Hubbers lament:
I AM RUINED..............sob. I purchased shares at much higher prices....sob. I used my life savings......sob....sob. What will I tell my wife?
Nope, still won't fly. The accumulated deficit and other transactions require full documentation in order to be audited correctly. Those carry over from year to year.
If a company is unauditable once, it is ALWAYS unauditable under GAAP.
He’ll have two years worth of audited fins by April 2023
If they can't audit the financials of the company alone, then they can't audit any post-merger, either. At least not in a way that would be compliant with GAAP, anyway.
But hey, OTCMarkets is always there with their "Alternative Reporting" BS. And they so-called "requirement" that those companies must post "GAAP compliant financial statements" Too hell with it!!! Anything goes! Just as long as their check for the OTCIQ access clears, OTCMarkets will turn a blind eye.
What will be impressive is if he can find a legit company to reverse merge into it.
The SEC still keeps extending the deadline on their decision about FINRA.
https://www.sec.gov/litigation/opinions/2022/34-95248.pdf
——-
But what will the SEC say?
George/GVSI TWEET
JUNE 30, 2022
Our attorneys & auditors have concluded that it is impossible to audit $GVSI due to past corporate mismanagement of records/actions. Therefore, we are abandoning efforts to become an SEC reporter & are preparing an application for OTCIQ access to be filed with OTCM within 60 days
——-
July 25
$GVSI Motion for Requiring Written Proof of Claim went unopposed and we expect the court to sign off at any time. This will eliminate all third-party debts.
——
August 18
On August 16 the Court granted $GVSI's motion to bar claims, providing 30 days for any claimants to step forward.
——-
https://www.sec.gov/cgi-bin/browse-edgar?CIK=0001068618&owner=exclude
https://www.otcmarkets.com/stock/GVSI/overview
Was this something required before FINRA allows a name and symbol change?
He already said he planned to change name to American Blockchain months ago - repeatedly reserving the name in Nevada
BUSINESS DESCRIPTION
Good Vibrations Shoes, soon to be renamed, "American Blockchain, Inc.", is an opportunity investor seeking assets in the blockchain industry.
——
Name Status Filing Date Type NV Business ID Entity Number Mark Number Actions
American Blockchain, Inc. Reserved 05/31/2022 Name Reservation E23600892022-9
American Blockchain, Inc. Expired 08/17/2021 Name Reservation E16849762021-0
American Blockchain, Inc. Expired 11/25/2021 Name Reservation E19147002021-2
———
I think this court thing is something FINRA might require to be done before the allow any corporate changes - ie. Symbol and name change. As that is what was done on GOFF/WNFT.
——-
Although wasn’t there some humorous twitter battle where some poster claimed to register that expired name???
So many twitter battles when George is in his manic phase!
!! Remember to register and vote...it is your duty as an American Citizen. God bless America!..:
https://mulletchamp.com/
Correction, Jake started with $25 million from his_family, so its not amazing at all. I wonder how many of "the family" were pumping and coordinating trades. Likely the SEC will wonder too.
"Jake Freeman and his family bought almost 5m shares in the struggling US homeware retailer at less than $5.50 a share in July for a total outlay of about $25m."
George Sharp got the judge to sign off on GVSI being debt free. Impressive.
BBBY Kid started with $5 Million according to The Guardian;
"Jake Freeman and his family bought almost 5m shares in the struggling US homeware retailer at less than $5.50 a share in July for a total outlay of about $25m.
After an almost 500% increase in the shares, sparked by intense chatter about the stock on Reddit message boards, including several posts by Freeman, he sold them for more than $130m – crystallising the vast profit."
https://www.theguardian.com/money/2022/aug/18/us-student-bed-bath-beyond-shares-meme-stock
Is that for real? A lot online says it is, but it's reminiscent the 2014 Mohammed Islam hoax. He was a Stuyvesant HS senior who supposedly "made $72 million trading stocks on his lunch break.”
https://www.nytimes.com/2014/12/16/nyregion/riches-to-rags-for-new-york-teenager-as-a-story-falls-apart.html
You know, I don't think he'd really be bothered if people who follow the Kardashians didn't know who he was...
“some unconscionable scientific pilferer is trying to steal my entire life.”
https://dnyuz.com/2022/08/17/raymond-damadian-creator-of-the-first-m-r-i-scanner-dies-at-86/
I wonder if he ever had a real diagnostic MRI done on him. I have had two - one for my knee and one for my shoulder.
It is really sadd that so very few people know this person and others like him, butt everyone seems to know all the Kardashians and Paris Hilton. The Kardashians and Paris Hilton are nott gonna change yer life, butt an MRI very well might save your life.
’there was nothing to prevent Dr. Damadian from being nominated in the future’
Now there is. He is dead. Dead people cannot win the Nobel Prize. If nott for that limitation, my dearly departed friend Pim would have won the Chemistry Nobel in 2018 when it was given to three dudes who came AFTER his invention of DNA shuffling/directed evolution because Pim died in 2013 and was no longer eligible.
https://www.nobelprize.org/prizes/chemistry/2018/popular-information/
.
I'm sure he's a good host, too.
Eh, perhaps. I will need to cut off his booze intake by North Platte and start him guzzling the highly caffeinated Redd Moose energy drinks at Lincoln (NE) so he will at least be conscious by Omaha/Council Bluffs (DaBorder).
Moos is an old hand at dealing with border disputes, deportation orders, and cross-border smuggling operations
Don't worry. Moos will protect you.
Sounds like I might get stopped at the Misery River at Omaha - I may have to cross at night or by boat/swimming - or if I can make it as far as Harlan/Avoca, they might deport me back to Cali.
https://www.intheknow.com/post/iowa-cuture-shocks-tiktok/
https://news.yahoo.com/woman-california-shares-biggest-culture-145812447.html
The livin is good in IA. Butt for the winter and a few days in summer.
Oh, and the occasional mosquito - none this year so far tho. Lotta fireflies tho.
And then there is the corn. Have I ever mentioned here how great the Iowa corn is? It is great. Field or sweet. Shelled or OnnaDaCobb.
But wait, there is more.
Some the tastiest pigs anywhere in the solar system.
And Blains Farm and Fleet and the separate and unrelated Fleet Farm are some of the coolest stores anywhere.
And finally, there is DaSquaw’s massive extensive, extended fambly that populates the entire northeastern fifth of the state. Gotta prollem? Flat tire? Mention to the first 3 random people you meet and tell them ’I am ______’s (DSquaw’s) husband’ and at least one of them will help you with the prollem (they may even buy you a new tire and apologize by blaming the roads) and tell you to say hello to DaSquaw for them. They will try to feed you and will send you home with enuff of their local produce and meat to feed the Peoples Liberation Army.
I'd forgotten all about Liz Heese; she's been there forever. She might be the better bet. As general counsel, Dan Zinn is very... important.
Gotcher message...
Have youse guise tried emailing liz@otcm.com and dan@otcm.com?
I have found both to be informed and responsive (Liz moreso than Dan - Dan is a lawyer so he is much more circumspect and limited in what info he provides).
Give Liz a try via email.
Your mileage may vary, it has been over a year since I last communicated wiff either of them.
(BTW: there is a slight delay of a cuppla daze in the letter I owe you and also in my departure from the land of Hacienda and Estancia. Take note.)
Yes. Every time I've spoken with them, I've had the feeling they didn't even know what I was asking, let alone have an answer.
It was better long ago, when Brandon Ferguson was their info guy. He was always nice, and did his best to find an answer.
Oh for sure. I’ve had the same experience where I’ve had to ask on multiple occasions, how is it that I know more than you do lol. It’s really a shot in the dark when you call whether you’re going to get a plausible answer.
Every time I communicate with OTCMarkets, I go away frustrated by their incredible lack of knowledge about even the basics about regulations and how the capital markets work.
And it is getting worse, not better.
I've tried calling. And found that the people I spoke with were pretty clueless. They actually believed retail couldn't trade stocks quoted on an unsolicited basis.
That was before the changes to Rule 15c2-11. I guess they never noticed that some of those stocks routinely traded tens of millions of shares a day. In some cases, hundreds of millions.
I’ve gotten a response or two in the past, but only after much persistence. I’m not holding my breath on this one though.
DD Support Board and Fraud Research Forum
This forum is a place for ALL to share and build research and due diligence.
This is not a forum for recommending stocks to buy or sell. It is for information sharing only.
Please do not use this forum to promote stocks.
Feel free to build on the research already done by others or to present fresh new research.
Please start all informational posts with the ticker symbol of the stock.
Important links:
Another place to read some of nodummy's research:
http://promotionstocksecrets.com/
Great Forum for Litigation and Court Docket updates not posted on this board:
www.investorshub.advfn.com/boards/board.aspx
SEC trading suspensions:
http://www.sec.gov/litigation/suspensions.shtml
SEC press releases:
http://www.sec.gov/news/press.shtml
SEC administration proceedings:
http://www.sec.gov/litigation/admin.shtml
SEC litigation releases:
http://www.sec.gov/litigation/litreleases.shtml
Most recent SEC flings:
http://www.sec.gov/cgi-bin/browse-edgar?company=&CIK=&type=&owner=exclude&count=40&action=getcurrent
Great Website for basic information about the laws surrounding penny stocks
http://www.securitieslawyer101.com
Stock Dilution Scam:
A share dilution scam happens when a company, typically traded in unregulated markets such as the OTC Bulletin Board and the Pink Sheets, repeatedly issues a massive amount of shares into the market for no reason, considerably devaluing share prices until they become almost worthless, causing huge losses to shareholders. Then, after share prices are at or near the minimum price a stock can trade and the share float has increased to an unsustainable level, those fraudulent companies tend to reverse split and continue repeating the same scheme.
Pump and Dump Schemes:
"Pump and dump" schemes, also known as "hype and dump manipulation," involve the touting of a company's stock (typically microcap companies) through false and misleading statements to the marketplace. After pumping the stock, fraudsters make huge profits by selling their cheap stock into the market.
Pump and dump schemes often occur on the Internet where it is common to see messages posted that urge readers to buy a stock quickly or to sell before the price goes down, or a telemarketer will call using the same sort of pitch. Often the promoters will claim to have "inside" information about an impending development or to use an "infallible" combination of economic and stock market data to pick stocks. In reality, they may be company insiders or paid promoters who stand to gain by selling their shares after the stock price is "pumped" up by the buying frenzy they create. Once these fraudsters "dump" their shares and stop hyping the stock, the price typically falls, and investors lose their money.
http://www.sec.gov/answers/pumpdump.htm
The key is understanding
The key is understanding that pink sheet stocks are not investments - 99% of them will lose value over the long run and never accomplish most of their forward looking pumping statements they put in press releases or on their websites. Never believe the hype - always be skeptical of everything you hear.
The people mostly making money with pink sheet stocks are promoters, front loading pumpers with big followings they can dump on, crooks, some of the flippers, and sometimes the very lucky.
Pumpers only tell you to buy stocks that they already own. Pumpers only tell you to hold stocks because they want to make sure you hold longer than them.
They make money by pumping the stock and getting other people to buy then dumping their shares on the followers.
If you really want to take the risk of trying to make money trading pink sheet companies then you have to understand how the game works and never ever hold long term - take profits when you can. Pump and Dumps dominate the IHUB forums.
Trading pink sheet stocks is a sick game full of lies and deceit where people take advantage of the inexperienced and naive stealing away their life savings for their own personal gains.
Very little respect or morals exist in stinky pinky land.
The Consequences of an SEC Suspension:
Complete list of SEC suspended stocks and SEC Admin. Law Judge registration revocations from January 1st, 2010 to May 9,2020:
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=155531213
More information on Suspended Stocks
http://investorshub.advfn.com/SEC-Suspensions-&-Revocations-25334/
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |