Captain Obvious
in response to
by
posted on
Jun 04, 2008 04:15PM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
>>>Do they know something the rest of the market doesn't?
You know I really have to wonder about that. I've only been involved in junior miners for 3 years now and the more I talk to IR departments the more often I find myself in the position asking myself - 'why is this person telling me this - this is material - either you don't tell me or you put it in a release'.
It seems like a bontus to know that stuff except that obviously some others found out and sold down the stock before in this case I'm talking about recently. Also, I have to question the integrity and/or judgement of the person giving me the news. Sometimes it's a grey area because one person's impression of what is material is different from anothers.
Steve their are volumes of history covering fraud and manipulation in equities markets, going nack no doubt to the first bell opening the first market!
The above posted by Steve Austin!
Is everybody "guilty?" Not likely.
It's nearly impossible to convict on charges of "manipulation". In mid July 1991 an appeal court in the US of A threw out the conviction of John Mulheran, Jr., one of those Ivan Boesky had testified against. He had been convicted on 4 counts of securities fraud and conspiracy in Nov 1990, and was sentenced to one year and a day in jail, along with a fine of $1.68 MM. However the appeals court ruled that the govt had failed to prove Mulheran's lively stock machinations amounted to manipulation, because the govt could not show "beyond a reasonable doubt" that his intent was to manipulate prices making it very difficult if not impossible to obtain future convictions of manipulating stock without the the accused making a direct statement that he was manipulating rather than investing in a lively and interesting way.
You have to go a long ways back to find a "STOCK MANIPULATION" conviction in Canada.
They have and use the tools, ranging from stacks of $50's to "escorts" that will knock more than your socks off!
As one newcomer to "The Predators Ball" exhorted, "I've got to hand it to these guys, I've never seen so many beautiful wives!" (All tax deductible!)
To quote F Ross Johnson, "The Three Rules of Wall St: Never play by the rules. Never pay in cash. And never tell the truth."
Is the SP of SAN manipulated?
You be the judge!
RUF