My thoughts
posted on
Apr 19, 2013 11:40AM
(Edit this Message from the "Fast Facts" Section)
I don't post much anymore because I simply can't add anything save my own assumptions based on what I know.
Firstly, let me assure each and every one of you that I am bleeding along with you and my ultimate wish is that somehow our collective investment in SFMi is salvaged, that the least we all realize is the return of our original investment.
Investments are emotional and depend on the principles and character of those to whom the trust is invested. What we are always talking about is the degree of integrity of lack of such integrity in the principles of the public co. and of course, the regulators of those investor owned companies. I’m afraid the good old days of minimal fraud are now light years ago. We small investors are completely emasculate and subject to the game in play as exemplified today by the pathological beasts that run Wall St. I urge each and every one of you to take the time to skip the ad in the following presentation and listen to It.: This is Professor Jeffrey Sachs of Columbia University speaking at the "Fixing the Banking System for Good" conference on April 17, 2013. This audio is absolutely EXPLOSIVE
http://www.youtube.com/watch?v=7VOWnnEphjI&feature=player_embedded#at=307
Garick posted something the other day that has dogged my conscience since the day before I got into SFMI years ago. He said that RK had outright lied to him. This ‘red flag’ event has been waving for a very long time. These ‘experiences’ are nothing new to SFMI. Let’s just say that a lot of misperceptions, mistakes, half- truths and even lies have permeated the environment since day one. As I have often stated, I blame myself for not being attentive to the perceived principle and character of management, the number one prerequisite in investing in anything. My fault. However, once you’ve staked your claim, the ‘frog in boiling water’ analogy can become all too ignored … by choice of course.
So, we have sociopaths running the show. Liars and those who cannot show empathy for others in our society are now in charge. As in the clip above, as Prof. Sachs has the courage to expose, the people on Wall St. who run the show and indirectly the Federal Gov., are ‘greedy, tough’ … and the environment is ‘pathological’ and they must be stopped as things are truly out of hand now.
The principle of many public companies and investment companies and banks and you-name-it, have been treated with impunity and getting away with it. The fear of not following the rules has dissipated. This has filtered down to even the very small business environment. In the JPM sector it often takes the form of apparent ignorance as some management turns their backs to it. Skirting the ‘rules’ and ‘misspeaking’ are commonplace, even with little old SFMI.
So, what is the character of the management of SFMI? What are the personal histories, business track records, interpersonal experiences and so on with these people? What is their credibility based on such fact? Do they display characteristics of being sociopathic? Greedy? Have they been truthful? Have they put the shareholder’s interest first, above their own? Can they be depended on? Are their activities transparent?
Well, that is for you to determine. Whatever the conclusion you arrive at, be honest with yourselves even if it hurts. There is one very important thing to remember, bigger, tougher, more powerful sociopaths are present that eat the food chain for lunch. When there is a massive treasure at stake, you can be absolutely assured that they will stop at nothing to devour it. We are at their mercy now. Let's hope there are benificent presences in the mix.