Hey Bob Grumbine
Q: With all the "hype" surrounding RAE here on MIS, you did a "Full Grumbine analysis" Since I was equally vocifierous about VISG from about July to Dec '03, care to let us all know how egregiously impermissible this stock really is? The fact it's rallied 107% since Dec should not dissuade you from disseminating the truth.
A:
I thought you were older in the market than that, Ausound. It
appears not. All during the Internet Mania swindles this news
group was full of . . . oh, let's call them "people" (although
pollies and sheeple are more common words for them here) . . .
enthralled with one piece of trash paper or another which had
risen 107% in a matter of
Matter of fact, there were some "first day pops" (criminal
manipulations of the "two-step IPO" variety) which were larger,
much larger, than your 107% piece of nonsense (evidence destroyed
in the rather convenient destruction of the World Trade Center).
Good golly, I think the classic of all time was that piece of
trash paper, floated by Gulled Mon Sux to reward Dr. Krap for his
criminal abrogation of the human and civil rights of American
heteros despite Dr. Krap's already proven worthlessness in business
(even the nearly always successful Time Warner organization couldn't
sell his crappy video tapes to the public). On the announcement
that KOOP was SPENDING a huge portion of its resources to get
advertised (so quickly time flies, I can't even remember the name
of the nonsense, all advertising, all the time, site which has since
fallen into oblivion like so many others of the Internet Mania
swindles), the stock roughly tripled in a matter of days. Wound
out within a bit over a year that Dr. Krap got $3 million of sales
of optioned stock done to the public and the stock itself became
worthless. Last I heard some Vegas gamblers had bought the remains
of the "company" for questionable purposes. Crazy times lead to
crazy results and the Internet Mania swindles were the worst of
the criminal manipulators being fostered into full attack mode by
the Clinton fraudocracy and Greedspan's notorious "it's all the
victims' fault" drivel about "irrational exhuberance".
What I was doing throughout that time period, was buying the
worthwhile stocks that all the crazies were throwing away on the
cheap, so that they could chase after the Internet Mania swindle
stocks. Sure, I knew the names of the fancies of the day, almost
always do, virtually impossible to avoid for a reader of a news
group such as m.i.s. with a substantial hype postership, but other
than a fraudulently misrepresented "commercial factor" out of
Phoenix, AZ, which in reality, was nothing but a factory for churning
out more worthless trash paper to feed the underwriters defrauding
the public during the Internet Mania swindles, I managed to stay
entirely clear of every single Internet Mania company. None of the
dot cons and dot gones, other than that one, ever made it into my
portfolio during that era.
Now I suppose that IF your little VISG was current with its
reporting and had the Q403 and/or Form 10-K available for
inspection, I might have done a full analysis anyway, but the
only thing I see in the reports is an 030930 Form 10-Q and a whale
of a lot of gibberish "acquisition" crap disclosing how much they
are paying OUT for more nonsense businesses so as to "grow by
acquisition". WCOM, TYC, and a bunch of other symbols spring to mind as
demonstrations of what the "grow by acquisition" crap really means.
Frauds, each and every one of them. Not sure when, nor how, your
little VISG is going to go down the same road. Can't even be
absolutely sure, in the absence of proper filings with the SEC,
that they're going down that road, but as a case of first
impression, yep, I would say that's the road they're likely on.
So bottom line, I neither have, nor am I willing to develop an
opinion on your "not covered in Value Line" little VISG which
appears to be in a line of business totally dependent on
continuation of the latest terror attacks by the Bush crime family
against the American people. Too much politics, too little
relevance is my summary of the "business" they're in. For persons
such as myself, with a 3-5 year orientation to the stocks I buy,
the latest flights of fancy, manipulation, and political intrigue
don't HAVE TO BE excluded, only, of no interest whatsoever.
Having you just evidence your extreme youth in the market, so
naive as to not even know about the Internet Mania swindles, it is
of doubtful use to you, but perhaps some others might be interested
to know that I had seen the "business to revolutionize the retailing
industry" before. In fact 40 years before when the swindle system
of the day was built around a fantasy about . . . now don't laugh
too loud when you hear what that swindle was about, I did manage
to lose 70% of my net worth to the criminal under the counter broker
with fraudulent earnings report and totally fictitious "market"
pricing cuz I was then about as young and naive as you are now . . .
vending machines. Sure, there are still vending machines around.
Still is sort of an Internet, even if effective access is largely
unavailable because not even DSL, let alone plugable telephones
in enough places outside some comparatively small percentage of
homes and businesses, But yeah, the fantasies do tend to continue
in some highly reduced form after the hype and hoopla dies down.
They're just not worth investing in.
That is exactly right. Enron was a hot stock too. It was still
bogus though. Bogus stocks get pumped by insiders, they go UP, then
they crash and burn.
You are simply bragging about the pumping action. If it failed Bob's test
is a stock floating on hot air?