| To: Greig M. who wrote (191) | 10/4/1996 7:55:00 PM | | From: Adrian du Plessis | | | |
Forgot to include "Hustling Harry" Moll in the list of penny stock promoters in whose company Bruce MacDonald was considered.
Harry Moll, a former Vancouver night-club owner, gained renown for pushing stocks in companies hyping everything from plastic-chain snow tires, and self-watering plant-minders to giant pearls. (Moll's Cross Pacific Pearls CXP - VSE, now delisted, promised to grow the world's largest pearl -- bigger than a five pin bowling ball and worth Cdn. $40 million. I kid you not, you can check this out through the Stockwatch, Vancouver Sun etc. archives. But before the pearl, growing inside a giant clam parked in a Honolulu shopping mall, grew big enough for anyone to bowl with, it was discovered that over $5 million raised by CXP had disappeared into two Panamanian accounts and was written off.) Moll was even mentioned in a Forbes magazine feature, "Scam Capital of the World", about the VSE that was published on May 29 1989 (see page 132 of this Forbes issue for the story). But Moll, named VSE Promoter of the Year in 1988, lost more lustre in 1992/93 when the Pineridge Capital group of companies (including CXP) he had helped launch, collapsed and resulted in a Cdn.$40 million lawsuit from a Swiss bank that got hosed buying shares in the various Pineridge-related stocks. (And to think that the entire suit could have been settled by the sale of just one giant pearl...) In the early 1990s Bruce MacDonald and Harry Moll shared Howe Street office space. At one point they were even both residents of Vancouver's Four Seasons Hotel -- being concurrently in the dog-house with their respective spouses. (Such stories have no effect on the market, but they form a big part of the reason that people who come to know the VSE come to love it.) Moll and MacDonald partnered on some VSE deals but without much success. After the Pineridge fiasco (as it was labelled in journals from the Financial Post to the Economist, The Observer, Barron's etc.) Moll relocated to the Cayman Islands and now apparently enjoys travelling between spots in California, Arizona and his old haunts.
You can read all about the business adventures of MacDonald and Moll in Stockwatch summaries (especially those published between 1992 and 1994) and elsewhere.
There's even a small chapter in the 1987 book on the VSE, "Fleecing the Lamb" (by authors David Cruise and Alison Griffiths) that should be available in your local library and describes Bruce MacDonald ("a man who didn't know quartz from slate") when he was enjoying one of his up cycles in the market. I'd forgotten, but "Fleecing the Lamb" even recounts the famous paint episode (see Chapter 14). It's easy to forget how much fun all this all was after a few years, when there's more than a howler a day on the VSE. |
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| To: Greig M. who wrote (186) | 10/4/1996 8:13:00 PM | | From: Grislee bear | | | |
To Don and Greig: Listen BOZOS how can you compare BXM to this stock?? BXM released Drill data on a regular basis haven't seen too much from colville BXM had 3 million OZ when it was $5.
Get it together and stop believing your own bullshit which has apparently been stamped onto what resembles your brain.
CLL IS GOING DOWN!!! E.O.S.
Gris
P.S. EOS means End of story for you mentally challenged out there! |
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| To: chazmeister who wrote (189) | 10/4/1996 8:22:00 PM | | From: Donald F. DeKold | | | |
Thanks Terry, I appreciate your coming forth and stating your feelings and some information about yourself. Now I know where you are coming from and respect your right to hold your point of view. I guess we will have to agree to disagree for now. You "obviously" are a well educated man, and I respect that in any individual. I am an educator by profession. Enter my name on the Yahoo search engine, and you will be able to learn a bare few facts about me.
My comparison with Bre-X was done only to show that very established companies undergo ups and downs early in their development. If you have read all of my posts in this thread, you would know that I really don't know if we have a Borneo(with facts!), a Arequipa, or a Bre-X. I feel certain CLL will appreciate from its current price when news is eventually released. Call me optimistic, but that's my nature!
Regards,
Don |
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| To: Tim Reddick who wrote (183) | 10/4/1996 8:41:00 PM | | From: Jeff Spurrell | | | |
Tim, I wasn't talking about your panic sell. I was talking about your buy!. You invested a bundle of cash for some reason. What was it? What has changed for you? You lost your $7000 only because you sold in a panic. I and others have lost nothing because we have our shares. I lost some potential profit because I didn't sell all at $5 but I got my investment out. Remember you don't lose till you sell. You sold.
JR. |
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| To: Jeff Spurrell who wrote (197) | 10/4/1996 9:26:00 PM | | From: Tim Reddick | | | |
I bought back in at the $2.75 range.At $3.50 this time around I'll
be close to even.It's hard to keep the nerve up at times in this game.
Negativity can set in dramatically.I've been talking this over with a
fellow investor.Perhaps this is not a big promotional stunt by
Bruce McDonald, but more a chance to get back at the top of the heap.
Why would he make a bad name for himself at this stage of his career?
The VSE did confirm(in a telephone call I made)that they are reviewing
previous Operators workings,which I believe is what everyone is
waiting for in the short term.(ie. - next news release )
Till then its a wait and see game. |
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| To: Tim Reddick who wrote (198) | 10/4/1996 10:18:00 PM | | From: Donald F. DeKold | | | |
I'm glad, Terry, that you were able to recover your losses. This must have been an emotional day for you. Hope that some of us cheerleaders helped. By the way, I sent you email, but haven't heard back from you. Do drop me a line.
Don |
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| To: Dave Devries who wrote (200) | 10/5/1996 1:35:00 AM | | From: Donald F. DeKold | | | |
Thanks, Dave, for the kind words and my apologies go to Tim Reddick for referring to him as Terry in a previous post.
I wish to verify that Tim's email address IS valid. He received my message and responded.
I know that for some of you my tactics may have seemed pushy, but on the net, everyone has a degree of anonymity even if they give their true name, residential address, and home telephone number. However, I think it is an undeniable sign of deceit when one fails to give his name or use a valid address. At the very least, the name can still be false and the address simply that of a 30 day free AOL account. However, when the name is an alias (such as "Greasey Bear" or the like), and/or the email address is bogus, how can you possibly place credence in what the person posts? He is starting out with a prima facie lie (pardon my Latin). (It could also be pointed out that this individual is even too lazy to cover his tracks... not quite admirable either.)
I feel one must try to divine the motivation of any correspondent in the forum. This is particularly true when someone is sewing doubt and invoking fear with his posts; you must determine the basis of his motivation. Is what he saying for his good or your good? There are ways of telling a person to be cautious without resorting to scare tactics. I compliment Tim Mikoch above for coming clean and admitting he believes "the shorts will always win" and "BRE-X is one in a thousand." His several posts can now be seen for what they are - as those of one who is shorting a stock, or, perhaps just expressing his cynicism at what he sees happening.
The same is true for overly positive posts. Perhaps I am suspect in this regard. I have never denied that I own shares - how many is between me and my stockbroker. I fully admit I am cheerleading my favorite stock pick. If you've read my posts, you will see predictions I make that don't come true, so I'm not infallible. Perhaps I'm just exuberant to a fault, when it comes to my picks. However, I try to be certain of my facts, make reasonable conclusions based on what is known from public information, and use some measure of intuition. I also keep my ear to the rail. (My background is that of an electrical engineer, and my training has steeped me in analytical thinking. Circuits and systems can behave very defiantly at time, and it is only the subtleist of cues that tips you off as to why your design or system is not working. You all know what I mean; you have computers, don't you? Well, people give off subtle cues with what they say, and so do companies, when they make press releases.)
Anyway, do take motivation into consideration when you read the posts in the various forums, and then make YOUR own decisions.
Don DeKold
donsden@aol.com
Gainesville, FL |
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| To: Tim Reddick who wrote (198) | 10/5/1996 7:53:00 AM | | From: Jeff Spurrell | | | |
Tim, You got in at a bargain in my opinion. But I have been wrong many times. If this is a promo by BM, remember where the stock was when he came on board with CLL. I have to believe its going higher than that so at 2.75 you should be able to realize a nice profit if you don't get too greedy. G'luck.
JR |
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