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VendaGoat posted:Pump And Dump has a very loose definition. And would fall under the purview of the permutations you have stated. that article posted:false, misleading or greatly exaggerated statements "I think chicken is gonna be big" "Apple is undervalued, yo" "these offshore drilling platform servicing companies are going to survive this downturn" These are not false, misleading, or greatly exaggerated statements. If the SEC were willing to investigate forums posts about listed stocks with daily volumes in at least the tens of thousands, it would have to increase its staff by five orders of magnitude and become the largest and most litigious branch of any government that has ever existed anywhere. It's fine to be cautious about making statements where you have insider information, as the SEC defines it, or when discussing a microcap penny stock/pink sheet stock/etc. where ten people agreeing with you and buying or selling could actually move the stock in your favor. But you are being extremely overdramatic about this and your oblique hostility is, as ever, bizarre. I mean, not even insulting, it's just so weirdly wrong and misplaced that most people don't even know how to respond. I engage because due to your posting in certain other threads I know you're not really an insane person, but you play one in this thread and I want you to be better because I like you.
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Oct 13, 2016 17:08
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Sold my GPS @ 26.41 for +~27%. Going to leave it in cash for the impending market crash. please visit my website at peterschiff.com Also, solar up on a market down day. What is happening
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Oct 13, 2016 17:13
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Leperflesh posted:I engage because due to your posting in certain other threads I know you're not really an insane person, but you play one in this thread and I want you to be better because I like you. "I'm not mad, just disappointed." I feel like I want to post better too now! Unfortunately I have basically no well-researched ideas right now. One stock that I'm hoping to look at within the next few weeks, which MAY have been unfairly tainted with a GPRO sort of negativity, and which I suspect MAY be of interest to a strategic buyer in the not-too-distant future: FIT. I know. Lot of people going to hate this one.
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Oct 13, 2016 17:42
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Agronox posted:"I'm not mad, just disappointed." I already asked to be talked out of FIT when it was at like $12 several weeks back, and had literally no one post in support of it. given that its up 25% in a few weeks, I wouldnt worry too much about the hate in here. Its an interesting company edit: correction,it *was* up over 30%, but now its way down.. I obviously dont follow it closely. Even better for a buy opp if you like the company. Although, I dont like the way the market at large feels right now
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Oct 13, 2016 17:56
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Leperflesh posted:I engage because due to your posting in certain other threads I know you're not really an insane person, but you play one in this thread and I want you to be better because I like you. Ok.
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Oct 13, 2016 18:13
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greasyhands posted:I already asked to be talked out of FIT when it was at like $12 several weeks back, and had literally no one post in support of it. given that its up 25% in a few weeks, I wouldnt worry too much about the hate in here. Its an interesting company Nice. Do you still own it? Do you have an exit strategy or is it a long term play for you?
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Oct 13, 2016 19:44
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One issue with fitbit is (at least their latest version) the bands were so crappy they were falling apart in a few months. The nice thing was that their customer support was so accommodating that they were shipping people new replacements, in the box with all accessories, with no documentation of issue. The bad thing about that is that apparently you can get new fitbits on ebay for crazy cheap. It does look like now they are taking some measures against that. Only shipping the replacement watch in a plastic bag, deactivating the old one, designing the new model with a replaceable band instead of being one unit..... But I'm wondering if maybe that really really accommodating replacement policy hasn't shown up in earnings yet? And the product seemed like kind of a grown up fad christmas last year. I dont think people are all that psyched about getting a new fitbit this year.
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Oct 13, 2016 19:58
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Cheesemaster200 posted:Apparently there is no middle ground to investing according to these forums. You either put your money into a passive index fund or gamble on speculative solar stocks. I have been watching this thread since the financial crisis and I think I have seen maybe 2-3 conversations on portfolio theory or diversification of assets which aren't exceptionally risky. Most conversation here revolves around these ridiculous lottery stocks and derivatives. I've typically allowed 0-20% of my portfolio to be single stocks and various options. I do it for the same reason that I over-allocate in small cap and emerging markets: I want to add a bit more risk profile to my portfolio. I agree it doesn't need to be binary. My taxable account is currently 50% single stock though. That's only because my gains are large and throbbing and I haven't given them a release yet.
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Oct 13, 2016 20:01
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I'm pumping XOM with this post you guys can buy enough shares to move the price so I can dump it right?
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Oct 13, 2016 20:10
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Elephanthead posted:I'm pumping XOM with this post you guys can buy enough shares to move the price so I can dump it right? You pay at the pump, so you and trump, then dump!
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Oct 13, 2016 20:20
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Agronox posted:Nice. Do you still own it? Do you have an exit strategy or is it a long term play for you? I ended up not buying it.
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Oct 13, 2016 21:51
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Awww, I missed being scolded by Venda.
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Oct 14, 2016 04:28
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Solice Kirsk posted:Awww, I missed being scolded by Venda. Call me daddy.
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Oct 14, 2016 04:32
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That's a bit weird, but OK. What's his number?
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Oct 14, 2016 04:56
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Bought some more tin. Now I have 4 tins.
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Oct 14, 2016 05:05
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Making a run to be on the 4 tin 500 List?
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Oct 14, 2016 05:32
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Solice Kirsk posted:Making a run to be on the 4 tin 500 List? You want some of the tin? I'm willing to give it to you... for a price > 
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Oct 14, 2016 15:47
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Tin is a Sn.
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Oct 14, 2016 15:52
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So you made a 4 tin trading?
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Oct 14, 2016 16:22
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Salesforce apparently out of the TWTR bidding process, stock down a good buck. Heh, wonder if VZ is interested.
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Oct 14, 2016 18:41
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Agronox posted:Salesforce apparently out of the TWTR bidding process, stock down a good buck. .........I touched the poop. Eh, who needs money anyways?
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Oct 14, 2016 19:16
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Solice Kirsk posted:.........I touched the poop. Oh thank you. I haven't had an occasion to post this gif in so long. 
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Oct 14, 2016 19:20
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VendaGoat posted:Oh thank you. I haven't had an occasion to post this gif in so long. You say that now, but in 6 months when the shares are worth BILLIONS I'll show you! Make this 16.50 buy price look amazing! 15000000% return baby! You can't lose money! IT'S GUARANTEED! I'm kidding SEC. Please don't take my licenses.
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Oct 14, 2016 20:20
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Yay! Maybe CRM will recover...
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Oct 14, 2016 22:56
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 It's like a goddamn feeding frenzy
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Oct 15, 2016 01:21
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Wells Fargo drops 10% on being outed as doing what everyone else is doing.
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Oct 17, 2016 02:45
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Christobevii3 posted:Wells Fargo drops 10% on being outed as doing what everyone else is doing. I sold my stake in them over a month ago. 
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Oct 17, 2016 05:34
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Presumably if the whole industry is cheating, and if that cheating is profitable (and it should be, or why do it) then WF getting caught and having to stop cheating means WF will be less profitable now.
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Oct 17, 2016 06:48
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Leperflesh posted:Presumably if the whole industry is cheating, and if that cheating is profitable (and it should be, or why do it) then WF getting caught and having to stop cheating means WF will be less profitable now. I'm curious about this and admit I haven't followed this closely, but surely there can't be a ton of profits associated with opening a checking or credit card account if those accounts remain dormant? And if there is, why didn't a bunch of people notice? Like, if my bank was taking $10/month out of my real account to pay fees for my imaginary one, I might not notice it immediately - but eventually I would. Do people never look over their statements? Surely it would only take a few people who caught such a problem to have someone start making a fuss? It just seems like such a poor, destined-for-short-life scam. Am I being super naive here? Or were Wells Fargo actually losing money on these, but salespeople still did it to juice some terribly-poor-designed statistic goals? VVV: OK, so their management/IT is just hyper-incompetent. A widespread scam that makes money unethically (eg. bill cramming) is at least an understandable problem; a widespread, long-standing scam that loses money, that's just pathetic. jmzero fucked around with this message at 17:35 on Oct 17, 2016 |
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Oct 17, 2016 16:15
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Wells Fargo stopping the scheme will actually help their profitably as they won't pay bonuses to employees who essentially defrauded the company. But their reputation is poo poo now, and that's basically everything to a bank.
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Oct 17, 2016 16:20
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Maybe they should just mandate that bankers be noncommissioned employees. That would fix the problem of sticking people in accounts that don't fit them or signing them up for a bunch of credit cards they don't need.
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Oct 17, 2016 16:48
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OK I'm out of DIS, at -15%. Blech.
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Oct 17, 2016 17:56
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Outta FSLR at 39.30, got in from someone exercising 37.50 PUTs I wrote in August. I don't want to be touching poop.
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Oct 17, 2016 18:49
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The only reason Wells Fargo management wanted to sign customers up for tons of accounts even if they didn't want them was to put up big growth numbers.
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Oct 17, 2016 19:03
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Solice Kirsk posted:Maybe they should just mandate that bankers be noncommissioned employees. That would fix the problem of sticking people in accounts that don't fit them or signing them up for a bunch of credit cards they don't need. Dodgy upselling isn't unique to retail banking, just less legal. Why wouldn't the same logic of the commission for salespeople apply to all industries?
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Oct 17, 2016 19:32
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Shear Modulus posted:The only reason Wells Fargo management wanted to sign customers up for tons of accounts even if they didn't want them was to put up big growth numbers. I'm not sure management did want fake accounts, they don't make money on them. There were courses and everything! People got fired for making fake accounts!
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Oct 17, 2016 19:33
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Shear Modulus posted:The only reason Wells Fargo management wanted to sign customers up for tons of accounts even if they didn't want them was to put up big growth numbers. This is correct. Really, any publicly traded company that has commission sales is susceptible to this sort of thing. A CEO can't just fake numbers, he'll go to prison for it. But he can tell his inner circle of upper management to promote this activity and get away with it scot-free, while booking solid numbers to justify bonuses.
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Oct 17, 2016 19:55
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Reminds me of Enron. Booking possible "future sales" as actual revenue.
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Oct 17, 2016 20:09
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I had several friends that worked at Wachovia and this poo poo started as soon as WF took over. The problem wasn't bonus seeking, it wasn't a comission sales force run amok, it was that WF policy was that all of their front line $9/hr tellers had to generate 100 new loans or accounts every single quarter or they were goddamned fired, no questions asked. And if someone walked up to your window off the street and said they wanted to open an account, it didn't count towards your stats. There were no incentives, NOBODY benefited from this, it was what the bottom level retail tellers had to do just to survive. Burn it all to the ground. There's no grand conspiracy, no scam from the top, only a management team with such a tenuous grasp on human nature they were stupid enough to think thousands of people would't make individual decisions to commit fraud when pushed so hard they were left without alternatives. shame on an IGA fucked around with this message at 21:39 on Oct 17, 2016 |
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Oct 17, 2016 21:23
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quote:The problem wasn't bonus seeking, it wasn't a commission sales force run amok, it was that WF policy was that all of their front line $9/hr tellers had to generate 100 new loans or accounts every single quarter or they were goddamned fired, no questions asked. Where does this mentality come from? What part of management thinks any of that is a reasonable and good idea? Reminds me when I did tech support for AOL in the late 90's. We had an arbitrary call time to keep calls under. It got so bad that people would dump calls or end them as soon as realistically possible in order to drive the average time down, rather than fixing the users problem on a way that would keep them as a customer. It got worse when they would cut the call time average that must be met a little more, every quarter. Then they tried to get us to hook the customer into agreeing to take some 3rd party advertising survey for a chance to win free gas or some poo poo. Customers didnt want ANY of that, they wanted to know why their software driven RPI modem wouldnt connect at anything higher than 9600. To try to force a somewhat sales type pitch on top of that (and adding to the call time, while we were supposed to get it reduced) just didnt make sense.
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Oct 17, 2016 21:49
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