somebody asked “what is a whore stock?” and offered that they had never heard the term…
“back in the day” (not the day when in order to “reform equities trading” by inventing the sec, the deal required the worst abuser, black jack kennedy, to be the sec chief) (not back in the day when tino deangelis cornered the world supply of soy bean oil–only it was water–and created warren buffet’s empire’s starting growth) (not back in the day when somebody noticed it took six bits to process an exchange, so charging $39 instead of $100 was still a monster ripoff) (not back in the day when somebody else said, if we make a mkt inhouse we can fill for $9.95, and clip 1/64 off both sides of every trade–or not fill) when aol im and yhoo i-chat plugin and mirc and icq were used to create cartels and data pools–an idea i keep seeing people thinking they can invent >>now<< in their hubris and self-proclaimed “investor” status–there was a guy styled “tokyo mex.”
a courteous enuff review of tokyo, leaving out evvver so much of amusement value, may be found here:
http://www.angelfire.com/ca5/SonyinCANADA/webpicker.htm
:”JANUARY 6, 2000
NEWS FLASH
Is It Sayonara for Web Stock-Picker “Tokyo Joe”? The SEC says the influential day trader used his site as a front for various illegal activities
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After months of fretting about the subculture of investment chat rooms, the Securities & Exchange Commission on Jan. 5 sued one of the Web’s best-known stock-picking gurus, “Tokyo Joe.” The SEC is asking a federal judge in Chicago to shut down “Tokyo Joe’s” Societe Anonyme, a Web- and e-mail stock-alert network run by Yun Soo Oh Park of New York. The securities cops say Park defrauded his subscribers and misrepresented his own performance as a day trader. Park’s attorney says he will fight the charges.
Park took on the noms de Web “Tokyo Mex” and “Tokyo Joe” in 1997, when he was one of the most active stock-tip posters on such investment bulletin boards as Silicon Investor and Raging Bull. Stories in the press featured him as a spokesman and symbol of the Net’s adrenaline-charged world of rumor-driven chat rooms, day trading, and stock tips. By mid-1998, Park had set up his own Web site, TokyoJoe’s, and launched Societe Anonyme. Last September, Time magazine’s Time Digital online edition cited him as “one of the country’s most influential stock-pickers.”
“SCALPING.” Although he hiked his membership fees from $29 to $200 a month, Park eventually enrolled 3,800 subscribers, according to the SEC. From July, 1998, through June, 1999, the SEC says, Park collected $1.1 million in fees for e-mailed stock picks and access to his members-only Web pages and chat rooms. One mark of Park’s influence: Web sites where he didn’t post his picks set up windows where their subscribers could follow the TokyoJoe chat on Silicon Investor.”
in reality about 7 a.m. manhattan time, mex would be in multiple mirc equities rooms gathering and disseminating data, creating the early vol that he would later use as part of his technical analysis.
in on some bedraggled shell company fraud chasing immortality or instant communication, or lifestyle premiums, in @ maybe 1/64 as part of fees for helping the wheeling-dealing, so that selling @ 1/16 was a home run, tokyo would announce privately that he was “analysing” dogg.ob. the mirc guys would buy, @1/16 on the open from mm’s seeing it coming, moving the shares they got @ 1/128 for the 1502c. the mirc traders then sold to those getting the “sa” alerts, who would (in theory) sell to the si or raging bull readers….who would get slaughtered.
it was tokyo who coined the term “whore stock”–a ticker u might spend 15 minutes with if things were going that way, but never invite back to ur portfolio, and totalllly never introduce to ur retirement.
since one of laws of a baltbear–viking’d from peter lynch–is “if u wouldn’t own it for 10 years, don’t own it for 10 minutes” when i use the term i am shifting the valuations.
the corollary is this: if you wouldn’t pay to own it for 10 years, then pay 0.
there are 2 ways to pay 0: don’t touch it, or …trade to a 0 basis.
if ur trading, make the nut.
if ur a prudent speculator, make the nut, make ur necessary apr, and/or have shares @ 0 left over.
something so-called “investors” almost alllways fail to realise is that there is no inherent relationship
between risk&reward.
just as they fail to realise there is no inherent relationship between goods&services and the attributible earnings to common.
just as trhere is no relationship between potential “social value” of i/p, and the desire of mgt to send $$ out to those who bought from the investors.
once that is understood, then, there can be quite a few pretty girls at the bar, and the night may be young.
to goto the concrete, adls.ob put out a press release today indicating that if a proposed fed solution to a federally perceived problem evver creates another tranche of corporate welfare, adls already has its medicaid card in hand, and is going to go stand in line.
is that an “event”??? nope. and given adls.ob behaviour over the past couple months, it’s not even news.
it’s an oddly dressed chick trying to flag down cars to “borrow a cigarette.”
fd: clients in adls.ob.
Posted under business
This post was written by admin on August 25, 2010
