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Actually, they do teach that in B school. P.T. Barnum is a very prominent figure in American business, and his practices are widely discussed and debated within business education curriculum.
Kitty seems to personify P.T.'s worst skills. I wonder how much he front-loaded?
So was offline most of the day but did see a quick interview this morning that "kitty" posted a meme where he has a gaming console in his hand and Game stop and AMC went up 50%.
They sure don't teach that stuff in B school LOL
And speaking of penny perps, Big Money Mike and his mom didn't bother to defend the suit brought by the SEC:
U.S. SECURITIES AND EXCHANGE COMMISSION
Litigation Release No. 26003 / May 13, 2024
Securities and Exchange Commission v. Michael M. Beck, a/k/a @LULU (C.D. Cal., filed February 7, 2022)
SEC Obtains Final Judgments Against Michael M. Beck and his mother, Helen P. Robinson, in Connection with a Penny Stock Fraud
https://www.sec.gov/litigation/litreleases/lr-26003
This is the board title: DD Support Board and Research Team.
While it began as a place where we mostly looked into questionable penny stocks, it doesn't matter if the questionable stocks are exchange-listed, especially now that the penny market is more or less dead.
GameStop short sellers have already lost $1 billion from Monday’s monster rally
PUBLISHED MON, MAY 13 202410:40 AM EDTUPDATED 12 MIN AGO
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Yun Li
KEY POINTS
Short-selling hedge funds have suffered a mark-to-market loss of $1.02 billion in GameStop by Monday’s morning trading, data firm S3 Partners said.
“Expect short covering in this stock as it already had a 100/100 squeeze score prior to today’s trading,” said Ihor Dusaniwsky, S3 managing director of predictive analytics.
The sudden advance in the stock was seemingly triggered by “Roaring Kitty,” who once encouraged an army of day traders to pile into the gaming stock in 2021.
https://www.cnbc.com/2024/05/13/gamestop-short-sellers-have-already-lost-1-billion-from-mondays-monster-rally.html
Oops.
Well that is clear as mud.
It makes no difference.
Yes, unfortunately. This is presumably the reason:
Keith Gill, known as Roaring Kitty, made his first post in three years on the platform X. Gill, famous for boosting the company’s shares in 2020, indicated his interest in GameStop’s shares, which rose approximately 70% in May. GameStop’s shares were up 18.3% in pre-market trading.
https://ih.advfn.com/stock-market/NYSE/gamestop-GME/stock-news/93833846/arm-sets-2025-target-for-ai-chip-development-amaz
So what is the PPS of a stock when it becomes relevant to the board when discussing anything here.
"Americans can’t stop ‘spaving’ — here’s how to avoid this financial trap."
My wife is guilty of this..The term was new to me.
"Spending more to save more is an all-too-common pitfall.
The opportunities for so-called spaving are nearly everywhere, whether it’s the lure of a “limited-time deal” or “buy one, get one free” or tacking on additional items to get a bigger discount or simply to reach the free shipping threshold."
https://www.cnbc.com/2024/05/06/americans-cant-stop-spaving-heres-how-to-avoid-this-financial-trap.html
My favorite rubbish stock -- KOSS -- is up 17%. But plenty of quality issues are up too. S&P is close to its ATH. EVs are strong.
Not surprising. Just amazes me how one person caused the run.
GameStop (GME) Halted on Circuit Breaker,
GME rallied more than +80% in early trading and taking aim at $30 per share. It started the month under $11.
Buying pressure for GameStop has been building all May but went up a notch after Keith Gill, known online as Roaring Kitty, tweeted for the first time in nearly three years. He simply posted a meme of a man leaning forward, but GME got the message that he was taking notice in of the recent action.
Now the Kitty has gotten the Apes fired up.
AMC (NYSE:AMC) +20%, another protagonist in the meme stock surge, is also rallying. While we are a far cry from the mania of 2021, traders will be keeping an eye on other names from that era like BlackBerry (BB), Koss (KOSS), Nokia (NOK), Carvana (CVNA) and Clover Health (CLOV).
The GameStop run started on May 2 with a jump of 16% on volume of more than 8M shares, about 3x higher than the previous session. Volume topped 36M on Friday, even though shares shed 3%.
The move has the hallmarks of a short squeeze, with reports of a dearth of shares available to borrow. But those squeezes tend to rip faster and this has been more of a slow build. Still, financial analytics firm Ortex says short sellers have lost $800M on paper so far and they reportedly could be in for losses of nearly $500M today if gains hold.
— Roaring Kitty (@TheRoaringKitty) May 13, 2024
When the mouth of the South won the Cup.
https://www.americascup.com/history/63_TURNERS-1977-TRIUMPH
It's just not the same today as when Newport and the US owned the Cup. One could go to Newport when the Cup was being raced and chances are a crew would show up to eat in the same restaurant where you ate. The yachts were a thing of beauty.
lol...Toronto. That will definitely burn you out. I never get upset beyond a few brief quips...and I always tell my son when he is.... to just look at the payroll and get over it. Not as much in Hockey..but the NFL , MLB, NBA ...gets really disgusting. No one should ever get that upset....for kids it gets rough though. My mom would make me cry when my team lost to hers....she would do that evil "ha ha" snicker like that kid on the Simpsons. The Simpsons didn't exist then, but talk about a flashback when I hear that "ha ha" laugh. I was like 8 or 9 years old for fs' sake...lol. She is a big football and hockey fan...and now legally blind...but will still power through. She can't see the puck or anything....but damn if she won't stand one foot away from the tv...just swaying back and forth. She's 91...and have to admit...I am so proud of her.
Happy Mothers day!
And if your not a mother....Happy Woman's day! :)
I know I would...
Ah, but they might feel like galley slaves half-way through a race.....
My father always blamed me for the reason he never got his sail boat...lol. When he passed, I made sure to get a few small paintings depicting sail boats :) I never was the reason...he just liked to f' with me..lol.
The use of “cyclors” was first introduced by the New Zealand team during the 2017 America's Cup. Cyclors are cyclists who pedal stationary bikes to generate power for the hydraulic systems on the boat.
For cyclists unfamiliar with sailing, it’s important to clarify that we don’t physically “power” or “drive” the sailboat like one would pedal a bicycle. This is a common misconception. Instead, we contribute energy to support the efforts of the “afterguard,” who are responsible for steering and controlling the boat.
Ahhhhh. So they aren't really like galley slaves.
Now that is certainly the subject of some debate.....
That's very interesting. Are they really boats?
Jake the Snake 🐍quite an interesting Fella
Not that it matters, but FAT isn't a penny stock. Yet. It's listed on the Nasdaq.
And we actually have discussed other fraudulent, or potentially fraudulent, issuers here recently, apart from the one you mentioned.
Oh, I know people are obsessed with sports. All over the world. Whether they've played or not.
LOL, what a gem.....
"BRK was a cigar butt with Zero puffs left."
Gotta run. Thanks.
A man of stern stuff, as well as surprises.
I'm a traditionalist: I learned to sail on monohulls, and by golly the monohull should still be the standard racing design. Racing should emphasize style as much as speed. The foilers are indeed a (slightly) bitter pill for sailors like me.....
https://theconversation.com/sail-gp-how-do-supercharged-racing-yachts-go-so-fast-an-engineer-explains-121902
Ha! I just spent SEVERAL HOURS listening to that "teaser" podcast. Gracias!
I knew much of that circa 1950 Buffett/Ben Graham stuff but not nearly all. Fills in a lot of the blank space in Buffett's life. How he made his first million or two:
https://www.acquired.fm/episodes/berkshire-hathaway-part-i
He recently sold over 10% of Apple then they announced their buy back so he missed the boat on that.
But the bigger problem is Warren endorses dividend stocks but his own stock pays none.
Well do you have a penny stock fraud to discuss. I posted about Fat Burgers and you were the on;y one who responded.
So what kind of fraud should people post about?
BTW there are also boards to post about your favorite food or bunny rabbit.
I'd counter with the America's Cup. I used to love it when it involved yachts instead of what it has become with catamarans.
https://en.wikipedia.org/wiki/America's_Cup
It's all tied up between Janice and Shaq.
Rangers lost but the best goal of the night was the Rangers goal with an assist from the Canes goalie. lol.
You're welcome. In the meantime, here's a teaser:
The Complete History & Strategy of Berkshire Hathaway (Part I)
The Warren Buffett Playbook:
1. Money can create more money. (aka "Compounding")
- Very early in life, Warren figured out something most people never truly grasp: money can be used to generate more money. It's sounds simple, but once you fully internalize this concept, you'll never see the world the same again. A given sum no longer represents what you could buy with it — a coffee, a phone, a car, a house, etc — but rather what it could grow to become over time. At the extreme, people like Warren are "cursed", seeing prices for goods not as whatever the sticker says, but 5x, 10x, 20x higher — because that's what the opportunity cost of parting with the capital represents.
- If you own an asset that's compounding at a high rate with no obvious reason it will stop... dear lord do not interrupt it!! Most people are tempted to meddle: lock in gains, cover other losses, actively trade, or otherwise "manage" their investments. In the long run these actions are almost assuredly all value-destructive behaviors if you own truly great businesses.
2. Align incentives: be a doctor, not a prescriptionist.
- Warren likened stockbrokers — who got paid based on volume of trades placed, not investment performance — to "prescriptionist" doctors who were paid by their number and type of pills prescribed, versus actual patient outcomes. Once Warren created his investment partnerships (and then later transformed Berkshire Hathaway into something similar), he not only unlocked hugely better outcomes for his "patients", but allowed created a path to pursue his own dream and become fabulously wealthy in the process.
3. You can't expect to control other people's emotions around money (or anything else).
- However with the right "ground rules", you can mitigate the impact of others on your business and decision making — and even use them to your advantage.
- Warren's early partnerships had a few ground rules and norms: partners will not know what securities are held, trading in/out is allowed only 1 day / year, and Warren will consistently set low expectations (leaving himself ample room to over-deliver). These set the stage for nearly complete freedom for Warren to operate as he saw fit — to the immense gain of his limited partners.
4. Sins of omission (selling or passing) nearly always cost more than sins of commission (buying).
- Warren is almost without doubt the greatest investor of all time. However even he made three incredibly stupid "unforced errors" early in his career that cost hundreds of billions in future gains: selling GEICO, selling American Express, and passing on the opportunity to invest in Intel with Arthur Rock.
- That said, Warren's fourth great mistake (and in his estimation his greatest) was certainly a sin of commission: buying Berkshire Hathaway itself. Warren estimates this single blunder totaled $200B+ in opportunity cost over his lifetime.
Thanks Davidsson. I've read almost everything Munger's said in recent years but not that. I suppose it was too long for me at the time. But I just read it all, and some sections twice. The portion covering Charlie's surprising BYD holding is gold. Learned a lot about his love of Costco too.
And I'll get to "Bonus Buffet/Berkshire" later. But probably not on Mother's Day. LOL.
https://www.acquired.fm/episodes/berkshire-hathaway-part-i
LOL folks can be a bit obsessed with different things.
Charlie Munger Interview
https://www.acquired.fm/episodes/charlie-munger
Bonus Buffet/Berkshire:
https://www.acquired.fm/episodes/berkshire-hathaway-part-i
As I've said before, there are many sports boards at IHub.
No...you were correct. The playoffs(as you said) started in Feb back then. So basically March to Cup finals finishing in April. They are long to grab the fat obnoxious cash.
Since most of the fun scammy' stocks are in the expert market, and the SEC just jamming all the small time players up...we should start talking about the fraud and abuse in other areas. Sports is a big one...as in the entertainment industry. The cash game in sports is one of the largest and nastiest...dirt city man.
I see you're right. In my memory, it seemed much earlier. Sports seasons are just way too long these days.
The cup used to be played in April. There were less teams then. April is not the beginning of summer by the way....but I do wish the season started earlier(September/labor day) and ended in May(memorial day would be perfect..lol). It's one of the last sports yet to be fully tarnished, but everything becomes more commercial every year. That tends to take away from the good stuff.
I remember when the Stanley Cup playoffs were in late February. Not at the beginning of summer.
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/
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