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Hi Bar. I’m waiting to hear the end of this news story, if that ever happens - reporters can drag it out for weeks / months. It’s ongoing and quite interesting.
Good to see you, hope all is well.
"This figure stands in stark contrast to the average salary of $18 million among S&P 500 CEOs in 2021." But BRK is America's 7th largest firm with 370,000 employees in about 120 divisions !!!!!!!!!!!!!
Berkshire Hathaway's recent proxy statement unveils a noteworthy aspect of Buffett's compensation package. While his salary remains modest, the company allocated three times that amount solely for Buffett's personal and home security expenses in the previous year. As a result, when factoring in these security costs, Buffett's total compensation for the year reached $402,000. This figure stands in stark contrast to the average salary of $18 million among S&P 500 CEOs in 2021.
https://finance.yahoo.com/news/warren-buffetts-salary-100-000-150916458.html#:~:text=Investing%20legend%20and%20Berkshire%20Hathaway,his%20annual%20salary%20of%20%24100%2C000.
Do you know Warren Buffett's BRK salary? $100,000 a year (same as Harvard Law grad Charlie Munger) plus a few hundred K for his personal security detail. Does $100,000 seem like Buffett's ripping off BRK shareholders?
WB might well have gotten those three blue chips WITHOUT trading them, by way of Inheritance from his prosperous US Congressman/stock broker father who died at age 60 on April 29, 1964, around the time Berkshire Hathaway was launched as a holding company. Entirely reasonable for BRK to emulate some of Pop's favorite holdings, especially widely held blue chips like JNJ and perennial WB/Munger favorite, Wells Fargo.
I don't understand about the Walmart shares. WMT didn't go public until 1970. Warren's inheritance has never been publicly spelled out.
Several online sources say WB became a millionaire around 1962 and was involved with a lot of stock via several investment partnerships.
There’s a few on iHub, unfortunately.
“If you describe someone as an evildoer, you mean that they are wicked, and that they deliberately cause harm or suffering to others.”
Evildoer
The Evildoer:
If you describe someone as an evildoer, you mean that they are wicked, and that they deliberately cause harm or suffering to others.
What does that tell everyone about the power of greed.
Uh oh, "Warren Buffett reportedly traded stocks in his personal account that his conglomerate Berkshire Hathaway was buying and selling, a practice that he himself in the past deemed a conflict of interest, according to ProPublica on Thursday."
https://www.cnbc.com/2023/11/09/irs-data-reportedly-shows-buffett-traded-berkshire-stocks-in-personal-account-according-to-propublica.html
loll!!! And then some. And some knowledge too!
Ihub can certaily use a breath of fresh air.
Thats for certain.
YOU nailed it, DJ. Nice to see you posting here, it’s a breath of fresh air ;)
The Good Samaritan - in its purest form is one who voluntarily renders aid to another in distress although under no duty to do so.
What with all the intentional malice aimed at others in the world these days, the selfless act of the good samaritan shines an undeniably BRIGHT LIGHT over the darkness cast by evildoers.
The Good Samaritan - in its purest form is one who voluntarily renders aid to another in distress although under no duty to do so.
What with all the intentional malice aimed at others in the world these days, the selfless act of the good samaritan shines an undeniably BRIGHT LIGHT over the darkness cast by evildoers.
.
.
Video shows 'Good Samaritan' helping NYPD take down armed suspect.
Wow, that’s what I call an impressive body block!
”Thanks to our law enforcement partners and the heroic efforts of a Good Samaritan, the defendant was apprehended before he could hurt anyone….”
https://www.foxnews.com/us/video-shows-good-samaritan-helping-nypd-take-down-armed-suspect
SEC Finalizes Rules to Reduce Risks in Clearance and Settlement
Final rules will shorten process for settling securities transactions from two business days to one
FOR IMMEDIATE RELEASE
2023-29
Washington D.C., Feb. 15, 2023 —
The Securities and Exchange Commission today adopted rule changes to shorten the standard settlement cycle for most broker-dealer transactions in securities from two business days after the trade date (T+2) to one (T+1). The final rule is designed to benefit investors and reduce the credit, market, and liquidity risks in securities transactions faced by market participants.
“I support this rulemaking because it will reduce latency, lower risk, and promote efficiency as well as greater liquidity in the markets,” said SEC Chair Gary Gensler. “Today’s adoption addresses one of the four areas the staff recommended the Commission address in response to the meme stock events of 2021. Taken together, these amendments will make our market plumbing more resilient, timely, orderly, and efficient.”
In addition to shortening the standard settlement cycle, the final rules will improve the processing of institutional trades. Specifically, the final rules will require a broker-dealer to either enter into written agreements or establish, maintain, and enforce written policies and procedures reasonably designed to ensure the completion of allocations, confirmations, and affirmations as soon as technologically practicable and no later than the end of trade date. The final rules also require registered investment advisers to make and keep records of the allocations, confirmations, and affirmations for certain securities transactions.
Further, the final rules add a new requirement to facilitate straight-through processing, which applies to certain types of clearing agencies that provide central matching services. The final rules will require central matching service providers to establish, implement, maintain, and enforce new policies and procedures reasonably designed to facilitate straight-through processing and require them to submit an annual report to the Commission that describes and quantifies progress with respect to straight-through processing.
The adopting release is published on SEC.gov and will be published in the Federal Register. The final rules will become effective 60 days after publication in the Federal Register. The compliance date for the final rules is May 28, 2024.
https://www.sec.gov/news/press-release/2023-29
That’s hilarious, people can be so silly when they want to ignore facts. Evidently a Fairytale is so much more rewarding. smh
What I love about that SEC paper is IHUB doesn't delete it when I plaster it on scammy stock boards. It's about as close to the SEC telling investors to shun OTC stocks as the SEC can come. Another way for them to say: "II You Buy this OTC Crap... Don't Blame Us."
Yes, it's a wonderful scam busting tool. Too bad it's buried deep in www.sec.gov. It's a good retort to those who say an "unlisted stock must be legit because the SEC allows it to trade."
Did anything further happen with the Hindenburg Research sting?
I’ve not been very good at keeping up lately but I want you to know that the SEC WHITE PAPER on the outcome of OTC “investing” is still the best OTC research I’ve read in years. Unfortunately I see stock pumps on Twitter full of ridiculous promotional junk.
Here’s the link you shared:
https://www.sec.gov/dera/staff-papers/white-papers/White_OutcomesOTCinvesting.pdf
Happy New Year!
Most interesting part is the Hindenburg Research sting which unearthed this Ponzi story fairly early on. Basically, Citizen Law Enforcement driven by the SEC whistleblower program which can award millions in some cases.
Hindenburg is generally a stock shorter. But this wasn't a publicly owned stock. So their only compensation will be the whistleblower money which may take years to collect.
I'll keep you posted.
Yes, I read he’s recovering. He also seems majorly depressed.
He was shot when he threatened to shoot the officer. Bet he felt silly, and in major pain. Ouch!
At any rate, I’ll follow, or if you read anything, I’d love if you’d pass it along.
First things first. His immediate problem is not dying from two gunshots fired into him point blank by the FBI.
The saga's almost sure to be American Greed material in a year or two.
Thank you! That’s a freaky incident, what happens in Vegas stays in Vegas….
Did they ever decide if he was actually running a Ponzi Scheme?
This person restored faith in humanity.
A New York City good Samaritan proved that chivalry isn’t dead after she discovered a wallet containing thousands of dollars in Times Square — and got it back to its rightful owner.
The noble deed occurred Wednesday morning while Honduras native Eduardo Martinez was walking through the tourist-inundated area to get to work, NBC New York reported. During his commute, the man reportedly dropped his wallet, which contained $4,000 cash along with standard wallet items, near Broadway and 49th Street.
Upon realizing what had transpired, the panicked man returned to the crowded area, whereupon he was approached by two police officers. They explained that they’d been given a wallet by an unnamed woman who had been commuting to work at the same time as Martinez.
After verifying his identification, the cops reunited the relieved fellow with his money pouch, which, incredibly, still had all the contents inside, including the four grand.
Martinez said in Spanish that he’s grateful to the cops and the woman who returned it to him, adding that their act of kindness proves that there are still honest people in the world.
.
Veronica. Ever heard of a Ponzi scammer/lawyer being_shot (twice) by the authorities? Skim some of the posts yesterday on the DD board. The lawyer is Matthew Beasley of Vegas who is recovering (???) from FBI bullets in his shoulder and chest!
This scam was brought down by shorter company Hindenburg Research, who will probably walk away with a much deserved million dollar SEC Whistleblower reward.
When you get an hour or so wade thru Hindenburg's full report on J&J purchasing. Simply brilliant stuff.
https://hindenburgresearch.com/jj-purchasing/
Link to the DD board:
https://investorshub.advfn.com/Dd-Support-Board-And-Research-Team-19670
lol!! That’s hilarious, I applaud her for being so clever! Unfortunately there are a lot of scammers out there, but no one will be able to take advantage of her - she thinks fast on her feet. It’s a shame that they try, evidently due to her age.
Someone called me to ask for a donation, claiming to be from the Sheriff’s office. I called the Sheriff’s department, he said they never solicit for donations and to never give out personal information (which goes without saying), but good advice nonetheless.
"73-year-old grandmother outsmarted scammers who pretended to be her grandson and said he needed $8,000 to be bailed out of jail"
Ever got one of these calls? I have. Lotsa fun to play with.
https://news.yahoo.com/73-old-york-grandmother-outsmarted-201133711.html
That’s accurate, CACH is not attracting anyone. My wish is it’ll be (#1) suspended or (#2) go to gray sheets. I’ll be pleased to see many of the dark pump-n-dumps waste slowly away.
I've long followed the defunct Cache Inc because I remember its shops when they were in operation many years ago. It wasn't much of a business even at its brief peak.
Surely there are more interesting long shot stories and scams. I wouldn't waste my time posting there. CACH with 71 board followers isn't attracting many suckers.
Thank you, I used it on some of the boards I post on. It elicited this response regarding Rule 15c2-11, which of course makes no sense:
CACH DD=Debunking the BULLSHIT!!
# No one is falling for the "SEC STORY"
LMAO
If that was the case we would have volume.
Most scared retail has left the building.
Still well over 3 million shares of CACH
Are in NSS!!
That will be covered as the naked ones
Don't want to have to pay A DOLLAR A SHARE FOR THEM.
Stay Thi Sty,
You've probably seen this, but here's the latest TDA list covering about 1900 caveat emptor and similar OTC stocks. It's dated Sept 7, 2021.
https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA101550.pdf
You've probably seen this, but here's the latest TDA list covering about 1900 caveat emptor and similar OTC stocks. It's dated Sept 7, 2021.
https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA101550.pdf
lol!! Thank you and I echo your sentiment, I cannot wait until the 28th!
I tested my own brokers to see if they'd accept an online order for a No-Info OTC and I was presented with a phone number to call. That's as close as I've ever come to buying a penny stock. LOLOL.
Can't wait until the 28th.
Same here.
Can't wait until the 28th.
Here's an IHUB board created for finding rare brokers who might handle trading in such stocks after the 28th. Posters aren't having much luck, which is wonderful.
https://investorshub.advfn.com/Brokers-that-allow-Caveat-Emptor-OTC-stocks-39217/
I tested my own brokers to see if they'd accept an online order for a No-Info OTC and I was presented with a phone number to call. That's as close as I've ever come to buying a penny stock. LOLOL.
Can't wait until the 28th.
My gosh, yes. Some of the boards are down to a trickle of posts since Etrade, TD Ameritrade, etc. will only accept orders to liquidate positions.
I’m also seeing denial of the September 28th regulatory enforcement date, claiming it’ll never happen. Like if you deny it, it’ll all go away.
One of the boards I follow was an SEC registrant, but the Nasdaq filed a delisting determination, and now they trade on the OTC with literally no one running the company. The transfer agent says they filed Chapter XI Bankruptcy in 2015, and their services as TA were discontinued since 02/24/2015. Yet it continues to trade thinly while there are constant claims of millions of naked shorted shares, counterfeit shares, phantom shares, shares are locked up, or any other of the nonsensical names given to stock trading on the OTC.
I cannot wait for the SEC to stop the insanity.
Hi Veronica. Are you seeing falling traffic on IHUB boards for CE/No-Info type pennies as Sept 28th approaches?
This is a Good Samaritan:
Hair-raising footage released Monday shows the moment an Indian railroad employee rushed to save the life of a child who had fallen onto the tracks. The CCTV video, posted to Twitter by India's Ministry of Railways, showed a station worker at Vangani Station in Mumbai sprinting to rescue a child as an oncoming train sped towards them.
https://www.cnn.com/2021/04/19/asia/india-railway-child-saved-scli-intl/index.html
A great day, hope everyone is doing well.
No worries, skip!
Seems like scammers last chance. Thank you for the information!
Sadly , the fraudulent trend will only get worse near term . IMO
So many low life otc sleazeballs , so few deterrents.
Snitch too?
He just put frosting on his updated resume!
It’s in the final rule, long but informative. I’ll enclose the short & long version:
https://www.sec.gov/news/press-release/2020-212
https://www.sec.gov/rules/final/2020/33-10842.pdf
Do you know when the grace period ends
on new otc rules for
MMs to comply?...
If you read the whole pdf
of 188 or 311 pages or ever
how many there were, you
might know...way too many...
And could better judge how
long otc trading volume
increasing could last...
More of a review than
a promotion...
So we watch...LJ
hint, get about 2/3rds thru
long pdf and find one small
paragraph on grace period...
Sorry, I’m not into promoting OTC scams, it’s just not my thing.
I don’t believe the Gov't wants to take anything away, they’re merely enforcing the rules, including 15c2-11.
Wild, wild, west, OTC only has until September
for old cowboys to push
the herd around the range...
Then the Gov't wants to
fence it in and take away
all the Free Grazing...
Make hay when sun shines...
So we watch...LJ
It’s an OTC bubble for lack of a better phrase - a giant P&D of dark /defunct / Shell companies. It will burst imo, the SEC’s Final rule 15c2-11 says they must have current information.
Why are these sub penny stocks moving up these past 3 months?
I just tried to access OTCMarkets.com, but I’ve been receiving this maintenance page for the last hour. It states the site will be under maintenance until AUGUST 11?? lol, that’s a bit long, no? I just checked and the last time August 11th was on a Sunday was 2019. smh
Edit: The site is back, maybe not better than ever, but at least it’s operating.
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