It’s quite funny to see/hear/read some people’s reactions when I say
this, which is rather obvious to most. Most big-time Wall Streeters know
this—that’s why they don’t voyage down here, most veteran traders know
this—that’s why they avoid this sector like the plague, but amateurs, suckers
and newbie traders have a hard time believing it.
Because they believe in the goodness of people. Especially
polished-presentation-talking businesspeople. They believe people are honest.
And fair. And just. Because they are drinking the Kool-Aid these companies so
willingly spout day and night.
No.
Down here in the gutter of Wall Street—well, really everywhere too, but
especially down here—people are dishonest. They craft lies, exaggerations and
misinformation for their own purposes. They hide the skeletons in the closet,
stuffing them down, until there’s so many they simply bust through the door.
They are not your friends. They are not your family. They are not to be trusted.
Even if they are your friends and family. Especially, if they’re your friends
and family.
Because money corrupts. Especially big money.
Especially the thought of big money. Having it. And, spending it.
Like clockwork, within a few years, these scams, schemes and frauds—no matter
if they were once seemingly surging every day—companies like IdeaEdge, Inc.
(IDAE), HYDROGEN HYBRID TECH INC (HYHY), Capstone Turbine Corporation (CPST),
Hydrogenics Corporation (USA) (HYGS), SatCon Technology Corporation (SATC)—are
almost all out of business or at least 75 to 99% off their highs. Because after
the pump comes the dump. The companies themselves, and I use that term lightly,
don’t matter, they’re just vehicles for all sorts of nefarious characters to
plunder until they’re no longer able to be plundered aka the jig is up &
even suckers see them for what they really are—dressed up carcasses. No
different than Weekend at Bernie’s.
And each successive pump is just another weak
sequel.
Now when I say scams, schemes and frauds, I’m not suggesting they’re all
involved in illegal activity—corporate and stock manipulation law is soooo gray,
who the hell knows what’s legal and what’s not anymore. Seriously.
