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There is a near term glimmer of hope--CATALYST-- for Lumen Shareholders at this time tying to The Domino Effects of over leveraged hedge funds unwinding.
To be sure, the market in free fall is a direct result of that happening with Archegos, and their dubious founder, Sung KOOK Hwang, aka, Bill Hwang, being the Tip of the Iceberg.
https://www.justice.gov/usao-sdny/pr/four-charged-connection-multi-billion-dollar-collapse-archegos-capital-management
One must have great respect for Elon Musk expressing his outward disdain and vehement disrespect for a complicit SEC who in many respects have compounded this problem for decades still counting.
Sadly, Jeff Storey is too weak of a CEO to get his head around it, and won't take action against it, but the fact that he brought that Guggenheim character in, McCormick, who once screamed at Jeff's earlier boss, Jim Crowe, "you are not a growth company," and nothing has still been done, makes me want to see him fired too since his pay scale is too high for too little in return except being an FN "host" as part of IR on earnings calls! He knows intimately how THE CROOKS work their DARK MAGIC!
Few investors realize the nefarious trading in Lumen and its predecessor Company as I have during what continues its 25th year while seemingly there is no end in sight when vetting the financials compared to this CONSTANT STUPID STOCK PRICE and sell side firms--dark pall downside volatility--especially, MS and BofA stumping for their short sighted clients with ridiculous negative reports accounting for nothing positive, as indicated by The Company, in its future today.
The bottomline is that the early 2021 Reddit Run will be paled by what is coming next assuming I become correct.
Viel Glück und viel Spaß Lumen-Owners.
I have complained for years that Jeff Storey needs to "go to Washington" and lobby for rates that represent "fair freight" relative to the mammoth investments and capital expenditures for delivering the majority of bit traffic around the globe which is now at the CORE of the Modern Economy. Otherwise, maybe he should give them all a RUDE AWAKENING and shut the network down!
Back in The Crowe Days even before Comcast was using their weight and market clout to lever Netflix to pay for "non commensurate costs" just because they could even while Level 3's Network was facilitating savings making Comcast's charges more egregious(circa 2011), we had Jimmy develop a "bit traffic exchange" formula for dealing with the likes of Cisco's interest in that other Cogent Communications "Free Loader."
Who knows the status of that bit formula pricing system today? Which stupid analyst even asks about it on the calls?
Until there is new, meaningful legislation that ends the lunacy of POTS "regulatory schemes" for pricing the carriage costs in lieu of P2P and other antiquated payment systems not aligned with the modern internet, investors of this Disastrous Storey will be disappointed waiting for what will become The Fifth Industrial Revolution in another 100 years!
Jeff Storey is being paid a King's Ransom for horrific equity destruction, and needs to earn his keep. We need "Mr. Storey to go to Washington," and get away from the cows and chickens on his Texas Ranch so that may result in his shareholders being compensated correctly for their mammoth investments over the past three decades!
The security is not supposed to be allowed to trade on Nasdaq OTC at all based upon its STO design. The spread between tZero's ATS and this fraudulent exchange is always very wide with Nasdaq OTC being significantly lower.
Management, most specifically, the CEO, JJ, is directly responsible for these breaches from our perspective.
This post continues to be deleted on Yahoo Finance message board by the free speech censors with ulterior motives over there:
The 33 percent spread between the preferred on the "Nasdaq Pink Sheets" where it shouldn't be allowed to trade, and the common shares on the reg Nasdaq continues to be criminal.
JJ get your head out of your behind and do something instead of looking out windows pondering how lucky the company was to be saved now that you are in charge!
This was the good news I was looking for the other day, Anthony. Now the preferred STO is no longer at risk of being overturned, and should trade higher than the common but JJ needs to take action!
https://finance.yahoo.com/news/utah-district-court-again-rules-123000394.html
Decision dismisses complaint against Overstock.comSALT LAKE CITY, Sept. 21, 2021 (GLOBE NEWSWIRE) -- On September 20, 2021, the United States District Court for the District of Utah ruled in favor of Overstock.com, Inc. (NASDAQ:OSTK), a leading e-com
Decision dismisses complaint against Overstock.comSALT LAKE CITY, Sept. 21, 2021 (GLOBE NEWSWIRE) -- On September 20, 2021, the United States District Court for the District of Utah ruled in favor of Overstock.com, Inc. (NASDAQ:OSTK), a leading e-com
Decision dismisses complaint against Overstock.comSALT LAKE CITY, Sept. 21, 2021 (GLOBE NEWSWIRE) -- On September 20, 2021, the United States District Court for the District of Utah ruled in favor of Overstock.com, Inc. (NASDAQ:OSTK), a leading e-com
finance.yahoo.com
Clearly, one could see Brett’s eyes light up like a Christmas Tree when Jeff indicated they are not opposed to additional non core asset sales.
One should also be conscience of how much might go wrong completing these two deals at least for the prices being bandied about over the next year when Jeff indicated how hard they're working to keep showing the buyers what they are getting is real.
Incumbent customers are always nervous when their trusted network partners announce they are selling the business.
Justin over at Seeking Alpha, misunderstood me and TMV remains right. He knows of me in other forums as well.
We are very long this corporation today. About half a stick of Burry’s largest stake before he began selling.
We have a long history that we have shared to open the minds of all investors so they may know how bad things can go when management team’s like Level 3 now called Lumen NEVER deliver on their long dated promises.
In truth, the ability to penetrate "multi hundred billion dollar" sales contract wins should be easy for this network in the enterprise space connecting to The US Government and their Military, but somehow for more than two decades, those consistent, persistent major contract wins continue to elude us.
We would like to see our stock price at $100, but this overly rich Buffoon having received ungodly compensation for job poorly done, is not the guy to get us there!
History remains our guide, and will never be forgotten!
What Jeff Storey really needs to do is to go into the "stock buying biz" by taking out a near zero percent loan in the current climate and buying FIVE BILLION "more" DOLLARS worth of shares in order to retire another 400MM shares vs. the 80MM that if he is acting now, he is on target to eliminate!
That would really make his business, err, STOCK PRICE GROW without making another GD SALE of communications services which he continues to fail at doing!
Oh, but that can't happen since banks who own the current LESS than $30B debt on Jeff's books, have a GD noose around his neck tying him to INDENTURED SERVITUDE!
If you can't SELL SERVICES, JEFF, buy stock in your enterprise!
While listening on the morning call with the CMO, Shaun Andrews, here is what we have to say aus Deutschland.
AnführerMitWut1 second ago
This analyst has been following these dummies for 20 years, and all he could get caught up in was the gobbly gook about product types and services without the hard question of where or why this great GIANT COMMUNICATIONS NETWORK with so few annual sales in the billions considering the addressable markets they TOUT does NOT have "PRICING POWER!"
Their internet connection sucked and the service provider who was supposed to allow questions with a "link" like other calls we have been on, didn't work or it wasn't visible or they precluded us from asking the question for him!
Sell this Storey's CEO and NETWORK to the highest bidder and be done with it. It's a commodity business with too much supply and too little product differentiation! EOM
Und Morgen die ganze Welt.....NICHT! This is what happens when a bad business model meets a horrific management team telling shareholder about tomorrow forever, but tomorrow never shows up.
Fire this CEO and sell this company lock, stock and barrel....SOFORT!
We can only hope today's creepy slow upward price bias is a final "takeover" to end the MISERY of 23 years filled with false promises, and expectations started by Buffett, Scott and Gates in Omaha.
If we do finally hear "The Telekom Shot Heard Round The World" from Buffett, it will be a "take under," but weary long term owners will finally have their END to this HORRIBLE STOREY!
It would be better to hear a German "TELEKOM" shot instead, however.
The most important communications network in the world connecting eyeballs to eyeballs after 23 years of building and rolling up fiber factories everywhere is unable to hold onto a measly $20B in annual revenues--it is still decreasing--and a $13B Market Cap while hundreds of billions of cost new network capital is DEAD inside MOTHER EARTH.
FN DISASTER and TERRIBLE FN STOREY! The Storey HISTORICALLY is giving away the STORE to "TECH COMPANIES" higher on the "STACK."
Sell this company lock, stock and barrel to the highest bidder ASAP! I have written the FINAL STOREY.
They don't believe OSTK is a technology company changing the world with their block chain technologies across all aspects of life where immutable math by proper accounting will ensure democratized capital, transparency and legitimacy.
Etail is a sidenote for this company and remains undervalued by two thirds, while TECHNOLOGY is being priced at ZERO along with OSTK's Medici subsidiary tZERO. That sub is one of approximately 20 viable block chain business subs in aggregate. EOM
https://finance.yahoo.com/news/tzero-ats-market-data-now-133000894.html
W is tracking $16B in annualized revenues compared to OSTK at $3B. The larger revenue base makes it more difficult to grow their top line percentage wise like OSTK from a more minnow base, so 67 percent year over year is still quite impressive except for the debt they carry which OSTK is not encumbered by.
W is NOT going the way of The Do Do Bird anytime soon, unless it can really be proven that they were trafficking for Epstein style pedophiles around the globe by sending young children in wood boxed crates like had been rumored.
So much for Dr. Byrne's "stick a fork in it" comment pre-Covid-19 for Goldman's pick any time soon.
What has happened to The Brain Trust on InvestorVillage? They're grasping at straws and patting themselves on the back as though they are the smartest tools in the shed to ever latch onto a Storey that for 22 Years continues to DESTROY capital in the form of equity.
Here is a hint....GTT's infrastructure business is a poor comparison because much of it is NON TERRESTRIAL and consists of sub sea cables that are economically INFERIOR to the multiple CONDUIT DOMESTIC NETWORK in the U.S. that Lumen maintains.
Stated differently, sub sea fiber cables do not follow SILLYCONeconomics like terrestrial backbone networks do.
Maybe the EBITDA multiple is more correct at 20, making the equity value worth $136 per share including net debt of 32B.
Remember that I have valued this network at 100 PPS like I did Overstock.com more recently, and I don't expect to be wrong in the next few years!
However, Warren Buffett has already figured this out before The New Year rings loud and clear.
It's all in the SEC filings. Do your homework, as every professional investor must.
Yes, we are invested heavily in this company like Charles T. Munger teaches. We can't get enough of it at these SILLY PRICES. We believe in focused, CONCENTRATED INVESTING!
They remain THE FIBER BARONS to the world, just like their predecessor company, Level 3 Communications(LVLT), was built to be.
Wait for the poison pill to end in November. Then, all the shenanigans by these firms and analysts on THE SELL SIDE will end with it, and the stock will TRIPLE minimally.
In the meantime, the CEO STOREY is WEAK like his heart since he continues to enable a SELL SIDE NARRATIVE to weigh against internal prospects.
If we owned a control stake, we would fire him FORTHWITH! Good will hunting on this one, it will pay off big!
WTF is KarldieGlatze? When my close friend, a shrewd Japanese work horse and investment adviser during our Prudential Securities Days made the trek all the way to Wells Fargo post Buffett's "Great Recession," all part of the Wachovia rescue including its Goldman connected CEO from the depths of hell, he would ask me to help him educate his analyst, Jennifer Fritzsche, about The Level 3 Business Model including posing questions as well as answers directly to her. She was a whore for The Monopolists tREX and vzSAURUS back then, and we couldn't help but to refer to her that way.
Fast forward and she is the only BULL ANALYST on "CLINK's" Storey today? Did I say not to refer to them as Colonel "CLINK" any more? It's bad marketing and bad press including another word, Cluck, which comes to mind.
It hasn't helped, but Storey can thank me for Jennifer being on his side today. As for my buddy, Kikuchi, who was taken "WAYTOOEARLY" from his life, God rest his wonderful soul.
In the long term, we're all DEAD, Jeff. You need to get this dog of a stock price moving!
The scuttle buttle being bandied about is that a private meeting is about to occur between Storey and Fritzsche during an ongoing quiet period that relates to bells going off in her head surrounding 5G and unrecognized values to finally be released.
https://www.linkedin.com/in/jennifer-fritzsche-665a156/
Of course, I have advised The Storey to get in touch with Charlie Ergen of Dish a long time ago now(5G Spectrum no strings attached), but nothing significant has developed from what could be a match made in heaven for the two of them based upon my research.
How the market cap that continues to exist for this amazing enterprise at under $11B today, continues to be one of the greatest mysteries of my investment career except for what it is that I can't possibly know?
What is that when comparing peers and the entire competitive landscape?
To John on Yahoo Finance:
You are a sharp guy inclusive of not alienating me. Genau oder "Exactly." Cohodes' best question that has been on my mind--major concern for ions when contemplating the huge managerial task of so many moving parts--was previously less burdensome for me because I listened to Byrnem which was obviously more Byrne BS. This being the depth, breadth and scope of this incumbent organization to guide, capitalize and provide other all inclusive resources for these "minnow" SUBS to be grown into man eating SHARKS, or at least "ONE OR TWO!."
JJ gave lip service to his question since I don't believe those systems are in place in an organized manner where a team of professionals in leadership roles are spearheading that aspect of ensuring these blockchain subs succeed wildly.
Think about the mammoth task and the limitations for current OSTK leadership including JJ. Schapiro has thus far been a major disappointment as well going on cnbc months earlier while OSTK was in the tank to market his consulting firm while not inserting one plea for his directorship role and the COVID-19 opportunity makes him a limp noodle.
Hopefully, he is doing more behind the scenes with regard to the regulatory bodies and the approvals owners are still seeking from Finra, Sec, etc. It's no mystery that his FIRM has probably sucked a fortune's worth of the tens of millions or is it hundreds of millions in LEGAL FEES Overstock has incurred over the past years in developing tZero and other financial and regulatory related subs inside Medici's blockchain businesses.
Land Governance is another business that he is now supposedly involved with but also something that Byrne made seem so easy to turn into gold, but it hardly is without HUGE geopolitical and economic resources to make that biz model a success.
Today's announcement is a means towards these ends, but Overstock's plight also requires Cohodes to be able to put it to his nemesis' at Goldman, which is another climb of Mount Everest instead of a Buffett 2 foot hurdle. EOM
Who here would like to explain the dichotomy that currently exists between Buffett and Icahn?
Buffey The Vampire continues to accelerate his ownership stake in Occidental at a feverish pace, stealing value and sucking blood from Carl Icahn and all other common shareholders quarter by quarter with his usury rate preferred shares now being paid in lieu of cash!
Yahooligans deleted this post on yahoo finance message board in the midst of the stock trying to break $6 per share earlier this morning.
IBM advertised blockchain for the agriculture and food supply industry on cnBS this morning. Overstock has a lock on that Tech with their sub, “GrainChain.”
Goldman’s Haustier ist tot.
https://www.deepcapture.com/2020/02/wayfair-stick-a-fork-in-it-because-its-done/
Yahooligans are suggesting OSTK ETAIL is hot to be sold right now. I was just wondering about this though?
Yeah, yeah.....and that useless cyst, Tom FARTe now has Etail pegged at six bucks chuck steak price. Did Guggenheimers get the memo for their "private showing" buyers? EOM
Patrick Byrne continues to censor free speech on his "Deep Capture" Blog. He is using a troll to attack our blood relative, "Anfuhrermitwut," on his board also. That TROLL goes by the name of WayLongCtl.
Since part of this review relates to that horrible presentation in New York yesterday, we felt it might be helpful by placing it here too.
Patrick Byrne is a hypocrite and full of plenty of Irish Blarney.
FYI
PB....I told you that "THING" was a "TROLL" who stalks me wherever I go. Wait a second, are you saying you are NOT William Wallace when our Bronx friends thought they saw you in downtown Manhattan yesterday? Impossible, because I have heard you BLOW BOLTS OF LIGHTENING out of your ass on many occasions!
Wir glauben weiterhin, dass das Gerücht, dass Mr. Buffett krank bleibt, wahr ist. Viel Glück!
Patrick has a good, strong, morally convicted mother like I do. My mother taught me since I was a little boy that, "PAYBACK is VERY EXPENSIVE" when people "CHEAT" for their "LIVINGS." But it's the WALL STREET WAY and they have license to steal, cheat and PLUNDER the rest of us, right?????
If there is a sale of ETAIL this thing could shut down, and GAP open to $30 on retail value alone, and then climb to $100 with all the "SHORT" illegally manipulated pile ons that have continued without any SEC officials caring or guarding the hen house from these wild hyenas who will finally be KILLED. EOM
https://www.deepcapture.com/2019/11/the-sec-me-metoo-part-deux/#comment-1089396
Chick Filet win very interesting since many if not most of their venues are "free standing" much like McDonald's......Notrom form the Investor Village board once mislead me that McDonald's would follow LVLT, now CTL's Starbucks/Google win earlier. Where is poor Notrom? He must really be dead.
It looks like CTL has very focused abilities to single standing venues with their fiber runs now, and this is a big change especially since they are not doing it without making high returns on their capital.
Jeff sounds tired. He's working hard, but he's a doing a damn good job. Keep it up, so you can finally cede T and VZ and not be treated like they have treated you and your shareholders for way too long now considering the SUPERIOR NETWORK you own and control. EOM
Which is still underperforming and trading at what remains an undervaluation so much so that they are buying back stock methodically.
The dividend should be next although having posed the question to Munger over time, it's apparent that the two wise men will have to pass on before a dividend will ever be paid.
Ultra wealthy, eh? Does the stock in their draw provide them warmth or comfort laying as a piece of paper without any guarantees exposed to losing significant value at any time, and for a plethora of reasons not directly tied to the underlying businesses that are inside the holding company?
One cannot live inside of a piece of paper, nor can one realize any nourishment from it lest they "liquidate."
When was the last time a shareholder proposal was made, and a vote taken which might "look through" by subtracting Buffett and Munger shares as part of that vote?
Wouldn't the share price potentially increase with "dividend buying" shareholders increasing the value of the underlying shares which then could be used as another method for financing at the same time making Berkshire's ability to "compete" for acquisitions on a more level playing field?
It's no secret that the value of Berkshire shares have historically benefitted from "fake inflation" buoyed by the "printing press" including rising tides of fiat money that is the underbelly of the U.S. and World Economies, so "share prices" connected to dividend paying companies due to supply/demand factors in purchasing stocks that pay them, would give Berkshire a more competitive foothold in the marketplace while seeking to purchase assets even in more frothy markets which they refuse to do.
They can keep waiting, and they may get one more Lollapalooza buying event in their lifetime, but they might miss it as well--two very old men where mortality rates are not in their favor--even knowing Buffett predicted this imminent Dow 30K, probably to overshoot higher, and which is occurring in almost real time.
Paying a 2 percent dividend would only add to the value of the stock price in perpetuity, and one can be sure it's fait accompli after the two wise men pass away.
This seems to not want to find its way to Dr. Byrne's Deep Capture site where a new post appeared regarding a certain journalist today.
FYI
Never read nor have read Gasparino or this baby face, young Asian fella seemingly overpaid. You were "betrayed," Patrick, and it was concluded after much intense observation and listening over a large time period beginning last April and prior to writing The Oracle citing those concerns for your benefit.
Watching Saum respond in your presence was like seeing a young boy whose hand was being held by a Dominant Daddy. He exhibited a feeling of helplessness or lost identity. When he appeared alone he was worse, however; so much so we wrote IR concerned he believed he was running a charitable organization by citing that he was glad tZero invested a King's Ransom in legal fees including but not limited to patents so that others could access it in "open source."
He became a featured guest on Cohodes' Twitter whenever Marc or one of his cheering squad members made a comment which might seek his input as though he was on CoWhore's payroll.
As stated in previous posts, Jj seems to have been part of the plot too, and from this perspective believe was the real Brutas, Caesar.
But you cannot be excused for failing at creating a successful Empire, so must be held accountable as well for many reasons including the fact that even with you and your family's special relationship with Buffett, you could never get Goldman off your back, and you could never get the necessary financing for launching the runways you and the company still desperately needs to address markets.
What a bizarro company, and seemingly absolute failure it has become in the wake of all this drama that was and remains nothing more than distractions to the business at hand, including even, your health as you explained the story. It's hard to fathom how any human could do all the things you have done especially being responsible for a public company the way you did in spite of all the issues plaguing you.
Very sad, very sad indeed, Patrick. Enjoy the $90M before or after taxes you are basking in The Far East sun with. You have merely proven what I believe when pondering "The Deep State," knowing that real life is stranger than fiction like depicted in "The Good Shepherd."
It was here one learns "The Deep State Owns The Country," and the rest of U.S. are just visitors here, or in your newest journey along with collective experiences, THERE!
If Buffett can't find value because of over valuation in the marketplace, does that mean he will start selling this time including a tech company like Apple, whose nose bleeding value is at great risk with a global recession near fait accompli?
I remember when Buffett lamented how he should have sold Coke in the Y2K bubble almost nineteen years ago. That was telling knowing how this past epiphany would have included a long term capital gains tax factor had he done so really pointing to the over valuation that had existed in his mind.
It's also odd since KO has significantly outperformed its longer term 1998 high before Buffett made that comment, and hadn't sold either, compared to today.
He supposedly doesn't know anything about "technology" but he is loaded up to the gills with Apple shares. Who tells him about these unknowable things?
Maybe his crystal ball has Apple producing cash in the quadrillions beyond the trillion dollar market cap it maintains today, much like a can of coke will for longer than human eyes might ever see.
Some fund manager who is Indian is censoring shareholder opinions and speech on the Yahoo finance Message Board. His name is Walid, and you can be sure he gets paid with Other Peoples Money(clients') since he gets paid on the dollars in force yearly as a percentage, while true Berkshire Shareholders are starved to death with UNREALIZED GAINS that are not guaranteed going forward, and serve no purpose for those owners always dying in the long term.
The subject matter is about finally paying owners a "DIVIDEND" since that excluding Buffett and Munger who have continued to underperform markets for nearly one decade, and continue to make errors of commission costing their shareholders dearly including Kraft/Heinz, these two men who are not getting any younger(89 & 94 respectively), and hoarding all this cash needs to stop, so that they finally spread some joy to their "larger number" shareholders that continue to be starved even while they are waving it in the faces of their owners at $25B more each year or $100M per biz day.
Buffett and Munger need to pay their owners, or retire, and turn the reins over to a more prudent management team that will allocate cash that serves "ALL OWNERS" best interests.
Some fund manager who is Indian is censoring shareholder opinions and speech on the Yahoo finance Message Board. His name is Walid, and you can be sure he gets paid with Other Peoples Money(clients') since he gets paid on the dollars in force yearly as a percentage, while true Berkshire Shareholders are starved to death with UNREALIZED GAINS that are not guaranteed going forward, and serve no purpose for those owners always dying in the long term.
The subject matter is about finally paying owners a "DIVIDEND" since that excluding Buffett and Munger who have continued to underperform markets for nearly one decade, and continue to make errors of commission costing their shareholders dearly including Kraft/Heinz, these two men who are not getting any younger(89 & 94 respectively), and hoarding all this cash needs to stop, so that they finally spread some joy to their "larger number" shareholders that continue to be starved even while they are waving it in the faces of their owners at $25B more each year or $100M per biz day.
Buffett and Munger need to pay their owners, or retire, and turn over the reigns over to a more prudent management team that will allocated cash that serves "ALL OWNERS' best interests."
This is being "censored" in real time on Byrne's Deep Capture as was the earlier post. If only Byrne was as smart and strong a leader as Musk for driving "RESULTS!"
After visiting my Tesla Service Center in SoCal today, I made the comment while their employees and shareholders are celebrating, that the people who are attempting to kill Tesla are Anti-Capitalism and Anti-American in what they continue to try to do in destroying the amazing Global Enterprise and clean energy company Elon Musk continues to succeed at building in spite of the attacks which continue to take place against him and his brand.
What I didn't tell them and what is even worse is what happened and continues to happen to Overstock including its Medici Tech Hub. In this case, it's the regulatory authority and body who is charged with protecting investors from market vagaries including illegal manipulation of supply/demand curves, who are Anti-American and Anti-Capitalism while they continue to aide and abet the interests of those same dark pool forces who conspire to destroy companies like Tesla.
This country is being destroyed from within by Captured Regulatory Bodies and Wall Street Prime Brokers along with their cohorts on the outer edge in attempting to make a Serf Nation out of its citizens through their direct illegal, interference with "free market" metrics designed to prevent that as part of inalienable "property rights" which no longer exist.
Patrick you censored my freedom of expression....and I do not take kindly to that. That remains most hypocritical.
Our partner, Anführermitwut, Carl, wrote this on Byrne's "Deep Capture" blog relating to the good Dr.'s recent SEC revelations and missive.
Inside its core argument, Overstock shareholders should be suing the SEC and U.S. Government for aiding and abetting the investment bank criminals and their cohorts against the best interests of public investors including "retail" who they are supposed to be "protecting" as part of their mission.
Dr. Byne has been "censoring" this speech up until the time of this post.
https://www.deepcapture.com/2019/10/when-the-sec-leaks-is-it-insider-trading/#comment-1086755
Working from the outer edge for more than fifteen years in order to assist the movement that Dr. Trimbath and you were spearheading as part of your Jihad with Wall Street, Patrick, reminds us that the regulatory bodies continue to be unfairly influenced especially corrupted by the various players at the IB level including Goldman and the "short side" of the trade connecting from that Sea Octopus with all of its tentacles. Indeed, my coining of "The Committee of Seven Million" courtesy of the internet referencing Boss Tweed's Tammany Hall Gang in earlier history to Mark Faulk, continuous to be an absolute failure having accomplished nothing during the time period where wasteful energy and intellectual property have been spent.
All of the kings men including SEC Commissioners from Cox on, congressmen, senators and others whom I wrote, nothing more than ignorance and naivety on my part because Overstock like Humpty Dumpty could or wouldn't ever be put back together again.
It's also odd that you haven't even referenced in this missive the SEC Director who is investigating OSTK since 2018--uncanny timing there as well--is the wife of one of the FBI directors who remains at the forefront of your "Deep State" accusations at the same time the new Overstock CEO, Johnson, since your resignation suggests is "dormant." There's a "speculation" there that may still bode well for owners in spite of your more morbid predictions which are likely more accurate since when have you ever been wrong?
From a shareholder perspective, you continue to concern and perplex me but as you know, I am never shy to explain why. The fact that even without the Bambooza that occurred you were willing to sell all of your shares over a specified period being a "few years" is prima facie acridness and part of my angst.
If you and I were speaking to your Rabbi, Mr. Buffett, about "wonderful businesses" that should be owned "forever" since some "subjective" discounted growth rate as part of predicting free cash flows in perpetuity including some "terminal" rate that might reflect "inflation" would add to that giant Oak Tree business' value as far as the mind could conjure, he would say what about Overstock.com? He has said worse than you have by his "avoidance" of seeking untold value in your enterprise, but I digress.
What you have said to your owners before your shareholders were bamboozled--digital dividend prevented--and you weren't is more important, that being, that all your earlier representations about about unfettered billions of dollars of "high margin" free cash flows that Medici's tech businesses would produce in the future including the special "patents" that came at great expense including tens or hundreds of millions in shareholder capital over the years and as part of investment, would not be coming into fruition for making what would inevitably become a market cap that could parallel hundreds of billions, or many tens of multiples of capturing the "SHORTS" in this ongoing missive "conservatively" in your description above really equating to a $1.5B market cap or about $45 price per share if it had happened when reflecting on $1.5B in annual sales which may now be heading in a downward trajectory again.
I guess it's fair to say when reflecting upon this missive, Patrick, that shareholders should be expecting a deeper more insidious haircut towards bankruptcy today, unless the "traitors" that existed inside of your enterprise were emboldened to betray you as part of certain winks and nods otherwise which might include some criminal bank like Goldman, stealing the jewels you created in order to render them obsolete, and rather than DESTROYING it at this time, owning it for their personal gain and betterment while using it as well.
The full splendor of your earlier work and the long term value of the enterprise being hundreds of billions in market cap will not be realized in this case example, but it may be better than the sharp stick in the eye and "reorganization" implied in your writings today.
What a sad, and terrible "state of affairs" you have fearlessly lead your shareholders into while you gracefully exited stage left with a story that is at least partially representative of certain Irish Blarney that would make a GREAT SPY MOVIE comprised of more fiction than not. I would love to interview the crew member who was holding the antenna on the ship mast you describe in your story. Was it a "Perfect Storm" that night also?
As a matter of fact, Dr. Byrne, I recommend another wildly overvalued Enterprise who Wall Street first hated while predicting BK for a little time, and then learned to love it beyond its wild overvaluation in the hundreds of billions today, Netflix's "SPY" non fiction drama for your immediate attention. I will caution you, however; that that courageous man working for The Mossad, ended up DEAD circa 1965 when you and I were little boys.
Congratulations again on a job poorly done, and one where this shareholder has continued to be robbed and bamboozled by a combination of forces that can't exclude you today. It is with great sadness that I report these personal "facts" as known by this long term follower, supporter and investor/speculator.
PB is a genius to be certain, but JJ is extremely bright and capable behind him. If you research his credentials, you will find out he studied intensely in Japan. He introduced the term, keiretsu, and the concept being applied to the Medici companies.
Please excuse typos, grammar, etc. as we are working from a remote location in No Cal seeking out Marc Cohodes 4 answers.
We posted Byrne’s legal liability clearance explanation on his “Deep Capture” site onto the Yahoo message board for all 2 see. The censoring of this post began immediately after that but I will post it her for all to see. The Twitter police continue censoring “Carl” on Byrne’s feed with respect to him/me/us having laid months ago reached out to Musk in order to adopt tZero’s blockchain and ride himself of the Wall Street counterfeiting and shenanigans immediately.
Here is the jist of the post deleted from yahoo moments ago.
Byrne’s deep capture blog has eliminated any possibility that he or OSK are culpable in any lawsuits going forward.
Their D&O carriers should reduce any falsely inflated insurance premiums forthwith.
If there is one thing we are 99.99999 percent certain about now, it is that Saum, JJ, and the board were always intent in defying Byrne by working with the regulators for widespread adoption by all brokers subscribing to their proprietary ATS instead of exclusively on Dino.
Saum had been appearing to show his face around chooses ’ twitter leading up to it.
The key going forward is if the relationship with regulators shall exclude cash in lieu of dividend this next round of “settlement.” If so, the shorts including FTD’s will have another impossible delivery request taking shares to heights which remain unseen.
In the mean time, if there are any lawyers who believe Saum, JJ and the board are culpable in a class action for dismissing Byrne’s original plan in favor of their own, contact “Carl” to contact “Elon” because Carl has proof.,
If Buffett invests capital in this thing at Monday morning's open, Cohodes is going to crap his pants just like the three FBI mucky mucks crapping theirs since Byrne went public. We are going to see those men indicted, unless you don't believe in "THE RULE OF LAW" and the advice Buffett gave to Byrne, and Byrne's willingness to cooperate towards that end. Advantage good guys!
Comey ist ein Commie und Lügner....Heil Byrne!
If Byrne is correct as I suspect he continues to be, James Comey, Peter Strzok and Andrew McCabe will soon be indicted by DA William Barr. So many are wondering what Buffett thinks, and how he will respond in Patrick's defense while the media frenzy continues heating up. Duhmerika is fast being exposed as a Nazi State without the ability to cover their historical roots and connections any longer.
https://www.theblaze.com/news/overstock-ceo-resigns-promptly-goes-on-media-blitz-claiming-peter-strzok-gave-him-orders-in-deep-state-political-espionage
Patrick Byrne has quite a story to tell
Patrick Byrne has quite a story to tell
www.theblaze.com
https://theconservativetreehouse.com/2019/08/23/details-behind-patrick-byrne-allegations-of-fbi-political-espionage/#more-168898
In the long term? How many years does that mean?
In the long term, Overstock is planning to issue more tokenized shares. Ultimately the company could go full blockchain, Noursalehi said, concluding:
“Long term down the road, we may ultimately delist from NASDAQ and have all our stock on tZERO. But [before that can happen] it obviously will have to be a much more liquid market than it is today.”
Yahoo Finance is a CENSORSHIP operation designed to assist the criminal operators and ring of hedge fund operators surrounding Goldman SUCKS. Sadly, Bluffett has become a prime tool for IB's like GS, JPM, and BAC with their vastly diminished Merrill Stingy the STENCH broker no longer referred to by name in the macro marketplace. EOM
They keep censoring mein guter Freund, AnführerMitWut, who saw a picture of a "DINOSAUR" being depicted in one pseudo's post. FYI
Hey, that looks like that "DINOSAUR" broker dealer filled with X LEHMAN EMPLOYEES who are partnering with Ostk/Medici/tZero to come back to haunt GOLDMAN SUCKS! Gute ARBEIT und HEIL TRUMP! EOM