Thursday, April 19, 2007 2:37:11 PM
His advice to me was "A sure sign that a penny stock is built on hype is when all the positive news comes from the company itself..(i.e. Investor Relations, PR releases, etc.)"
What sucked was I hadn't even told him about the company announcing they will be part of M2GEN or all the trivia tid-bits that have com from the IR office in the last month.
After I explained the situation to him, (Shocked that he nailed what had been going on with this stock since February) he said " I hope you made a decent buck and got out when it was 1.89, because that was your big hit!"
Sadly, I did not. Now I know what your are going to say..."If he works for Morgan Stanley than he is trained to hate penny stocks and would neeve take chances like this! He is a hater!" Well he is ridiculously successful, and has made his clients a boat-load over the years. That level of survival and success through company take-overs, good years, bad years and net booms, is the type of professional that knows when to turn on the "Bull-Shit Light." The more I talked to my friend from Morgan Stanley, the more I thought about "Boiler Room." When Seth is selling the "whale" on the phone a bout a new drug that is in it's third stage of FDA approval to help keep premature babies alive and healthy...I might as well have bought DNAG from J.T. Marlin! (hahahaha)
Just some Water Cooler Fodder for you all.....
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