SubscribeTDI Podcast 151: The Penny Stock Battle – Sykes and Van Meerten
March 7, 2010 11:59 pm
Guests: Tim Sykes and Jim Van Meerten battle it out as they discuss penny stock research. While there are many different ways to look at the sleazy world of penny stocks, research always wins out. Even so, how do we trust the research? Sparks fly as both of these high spirited gents defend their positions. But, before we get into that, we discuss the markets, economics and a few potential buyout candidates.
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Timothy Sykes, the author of the book, An American Hedge Fund. He studied Philosophy and Business at Tulane University while turning his $12,415 Bar Mitzvah Gift money into a fully audited pre-tax sum of $1.65 million from 1999 to 2002 before founding his hedge fund, Cilantro Fund Management, LLC in 2003. He went on to graduate with a B.A. in Philosophy from Tulane in 2003. He is also the benefactor of a Tulane University Scholarship, ‘The Timothy Sykes Day Trading Award for the Talented” that is a unique award in that it is awarded to an deserving Tulane student, faculty, or alumni. In 2006, Timothy’s hedge fund was ranked the #1 Short-Bias Fund by Barclays for 2003-2006 and he was named to Trader Monthly’s 2006 ‘Top 30 under 30″, a list recognizing the top 30investment professionals under the age of 30.
Check out Tim’s Site…. Not your run of the mill blog.
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Jim Van Meerten earned a BS in Accounting and Business Administration from Berry College; a Juris Doctorate from the Woodrow Wilson School of Law; and post-baccalaureate and graduate courses in Business Administration, Quantitative Math, and Education at Florida Atlantic University, Georgia State University and University of North Carolina at Charlotte. In the past he has been an accountant, attorney, adjunct professor in Business Law and Internal Auditing, financial advisor, supervisory principal, and compliance officer. He would enjoy hearing your comments at VanmeertenFund@aol.com. Or visit his website – Financial Tides
Read the each article from Jim and Tim that rip each other – not pretty..
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69 Responses to “TDI Podcast 151: The Penny Stock Battle – Sykes and Van Meerten”
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Thanks again for posting this Andrew, Jim wrote a blog post accusing me of fraud, penny stock manipulation and substance abuse, but has since deleted it (just after Motley Fool deleted it from their site too)…the old man probly got committed by his family as they explained "Jim, you can't accuse others without ANY evidence whatsoever"
PS Substance abuse, are you kidding me Jim, I can't even take a Nyquil these days, love to know where you came up with that one, but given your inability to even look at the SEC filings of NXTH or CLRH or realize you picked 2 stocks with the same CFO and same IR firm with a checkered past, I doubt your research abilities entirely…perhaps you didnt get committed, maybe you just realized your thesis was all wrong and that you should attack yourself for picking 2 promoted stocks which collapsed within days of your picking them…PS you're not a hedge fund manager, where's your verified track record? Why arent you on Covestor? Why arent you 100% transparent like me? I eat ignorant scum like you for breakfast
Andrew you should update the post and let everyone know that Jim van Meerten has already backed down befor emy lawyer could even get to him…Jim, why did you delete your psots about me so quickly? You were so sure I used "aliases"…did you join http://www.timalerts.ocm and realize my subscribers are ALL real? You still alive?
EnteWhen the truth is not on his side Timothy Sykes makes up lies. He panders to the same audience as Howard Stern and Jerry Springer. He knows that my postings were not taken down because of his threats of law suits. I took them down voluntarily because he and his followers flooded the sites with juvenile, abusive and in most cases obscene comments. Comment moderation filters are now in place.
I thank all of you who shared with me how you have been victims of Timothy Sykes and his cyber bully techniques.
I leave you with these links to ponder:
Timothy Sykes
Hedge Funder Timothy Sykes Bombs out on Wall Street
Somewhere a village is missing their idiot and I think I know where he can be found — if they even want to.
Jim Van Meerten
r text right here!
Jim, what lies are you referring to? Old man you need to back up your accusations–see my blog post where I dissect your BLATANT LIES one by one…notice how I don't delete my blog posts and Motley Fool doesn't delete them either because I make a statement then I verify that staement. You make a statement and are too incompetent to do any research and back up your points so instead you delete your posts or they get deleted for you.
Now Jim, you're walking a very fine line, the only people I've ever encountered as dumb as you are stock promoters…and the fact that you are quoted on the promotional mail for NXTH alongside 3 known stock promoters and a celebrity who has been paid millions of shares makes me wonder about you. If a stock promoter ever used my name in a promotional mailer that makes absurd claims like "worst case scenario you'll double your investment" that is sure to be scrutinized by the SEc, I'd be attacking the promoters, not the guy exposing them.
So tell us all, did you give the stock promoters permission to use your name and article or did they just take it? If they just took it, why have you not gone after them?
There is a rumor you mightr be on another reality show. Will it be Rehab or Intervention. Enquiring minds want to know
Jim, way to avoid my question…stop researching gossip websites and TV shows I did 4 years ago and focus on the fact that I am the #1 ranked trader out of 45,000 on Covestor, a website that verifies all trades and investments. You have accused me of fraud and manipulation and lies and yet you have provided no evidence whatsoever. Nor have you answered whether you allowed stock promoters to use your name on their promotional mailer?
Andrew,
I enjoy your weekly podcasts and look forward to the next one as soon as I finish listening to the most recent one. I am saddened that I will have to wait two weeks for a podcast as the latest attempt at educating your audience was a failure.
I hope you never attempt a similar format again.
Thanks,
George
It seems Jim is in over his head, yet his pride won't let him say "I messed up." I almost feel bad for him, except for the fact he will not admit he made a mistake. Sykes is a bully, but he is right. Admit you screwed up Jim, made a dumb mistake, and I think everyone could move on.
I disagree, I was educated further in the dangers of seekingalpha.com and fool.com articles, because you don't know who is writing them or for what purpose. I am also fascinated by the penny stock world in general, and any attempt to put the dangers out there to an audience (even if Andrew's audience is more sophisticated than most) is a good thing. I didn't like all the bickering and it was too emotional, but I think Andrew was trying to steer it to points we could all learn something from.
I do not really follow either Timothy or Jim, but the lack of professionalism displayed by Timothy is truly shocking. For me personally, I will go out of my way not to support anything that bears his name. Men go over the facts and come to a conclusion. Two year olds resort to name calling and simply trying to talk louder than the other person to be correct. I have no idea who is right or wrong (Tim or Jim) but Timothy's approach and in the comments above is a disappointment. If Jim is in fact telling the truth then it is a simple call to his lawyers and it is settled. If Timothy is the true expert that he claims to be in this area (penny stocks) then he needs to rise above and move on to educate his followers rather than continue the pointless name calling. My two cents….
Hopefully we never have to hear about this on The Disciplined investor again as I am sure that I would not be the only one to remove The Disciplined Investor from my routine.
1. Jason, so you don't mind if someone is selling you a line of crap as long as they say it sincerely and in soft tones? You may not like Tim's approach or volume, but his point is right on. Jim is supposedly educating people telling people to do their own due diligence but Tim showed that Jim didn't even do that himself in this instance.
2. Jim totally contradicted himself saying penny stocks aren't for either investors or day traders, yet he writes them up in articles. If they're so dangerous why did he write about them as interesting to look at? Simply because they came up on his scans? He could runs his scans with the criteria being above $5 stocks.
3. A big takeaway for people is as Chris stated; be careful what you read. One needs no credentials or ability to talk up a stock on a message board or blog, anybody can do it and I wouldn't even bother with seekingalpha or Motley Fool sites, those are for amateurs IMO.
4. There are a lot of sharks out there promoting and selling themselves, products, and newsletters, many of whom don't trade. Look at a trader like you would a musician, artist, teacher, plumber, etc. Look at their work and make them prove they are successful and if so learn from them.
Jason, the guy picked 2 stocks with the same CFO and IR firm just 2 days before each collapsed 50% and he is quoted by unethical penny stock promoters…professionalism? LOL, Dude, I'm a blogger, I am fortunate enough to be in business where I don't have to BS ANYONE and my life is devoted to cutting through the BS, of which there is tons….I think I held my tongue pretty well, I didn't use the accurate words which describe Jim "scumbag" "senile" "reprehensible" "liable" "unethical" on and on…when the guy says he wouldnt even recommend day trader play penny stocks, then admits to not even esearching the ones he writes about…come on, I took it easy on this guy because I didnt want him to die during the podcast…remember he also called me a fraud and liar and manipulator without backing anything up…I believe I have sufficiently backed up EVERYTHING, you're welcome you ingrates, you deserve to be left blissfully ignorant
Sorry Andrew but this episode was truly disturbing, I hope you don't continue this "Jerry Springer" theme.
As for your two guest – Jim & Tim, I don't know them and never heard of either of them before.
Jim made a pretty bad mistake by writing two articles about two "penny" stocks in their "pump" stage just prior to the big "dump", yep that's bad.
Tim honestly came off as a "bully", just non-stop "attack mode" verbal abuse. America loves an underdog, so I was cheering for Jim and thinking to myself "for the love of God, defend yourself" but alas, knowing that "bullies" rule this world Jim was on the ground and was repeatedly kicked in the head till he died.
Tim even gloats about it: "After getting crushed in our debate which you’ll soon be able to take great delight in listening to,…".
Tim, you might "take great delight" in listening to it over and over (probably in the bathroom), but I dislike the child-like verbal abuse you spewed, your true character came out for everyone to see.
Andrew, Jerry Springer showed up in your podcast, I suggest you show him the door.
Bill, Bill, Bill,
1. Don't put all of America in the same class as you in who you were rooting for. Remember, Jim contacted Andrew to come on the show and give his side of the story after Tim brought his name up in his previous interview, so don't blame Andrew. But since you said you'd never heard of either of them before you obviously missed the initial interview that sparked all of this. It's a good idea to get your facts before you write or speak.
2. You called Tim a bully. Now you're comparing Andrew to Jerry Springer, so your comparison is the same as name calling. Kind of hypocritical from my perspective.
LOL I love that I'm bully here when I am expose a.) how van Meerten wrote about 2 promoted penny stocks he did NO research on even though he wrote articles for major financial media outlets b.) might be in bed with promoters (he fails to answer whether or not he approved the use of his name in the promotional mailers c.) how promotional mailer stocks work (you're welcome you ingrates!) and d.) how I've used this strategy to make millions over the past few decade
TDI is a "don't miss" podcast for me, but this last one was hard to take. Nice experiment, even fun, but better suited for the Judge Judy crowd. Sorry it degraded into infantile yelling. Nice try though.
About the foray into a new show format…well…to quote one of my favorite shows, Top Gear, “That’s not gone well.”
Tim, as brusque as you may be, you are right (as James pointed out above). To me, that’s more important than having “soft tones”. :) Clearly not everyone who listened is willing to look past all the noise, but they should. There’s some very important lessons to be learned here.
I skimmed your site after a previous TDI episode and never got back to it. I’ll make a point to check it out more thoroughly tonight.
wow ,
I horrified by the whole style of that podcast. Pushing shoving shouting ,naming calling,etc…
Thank You Andrew for trying to REMIND your guests this is about educating us listeners rather than exhausting us. Had I been a first time listener,, i would have stopped listening all together and I would have missed out on the tremendous value Disciplinedinvestor podcasts have brought to my new interest in investing/trading .
I You know, if I can't or won't do my own research then shame on me not another person.
Jim and Tim I am going to have check out both your sites just for more perspectives about penny stocks.. Andrew I appreciated your attempt at refereeing ("SHUT-UP " does wonders!), the education moments will go in my files and I just loved Singing along with you at the end !! .
All my best to all of you
Sincerely
your Grandmother /newby investor trader
I can't believe you people aren't more horrified by this–Jim did absolutely NO fundamental research and both Seeking Alpha & Motley Fool approved his articles…sucking in hundred of readers…later he has the audacity to call me a fraud, liar and one who partakes in substance abuse, again with NO fundamentals research…this guy should be tarred and feathered or at least banned from posting on the internet…some people don't deserve free speech, they are too ignorant and that ignorance is dangerous
[...] van Meerten even refuses to answer the question I posed him in the comments of this podcast: considering the stock promoters used Jim van Meerten’s name and quotes form his article when [...]
Informative, but not entertaining. But hey, not all medicine is sweet. Sykes is the walking wounded, not to different from many an army veteran. I thank him for warning others. I could not accept the message from his first interview. I got it, with some Motley trooth to boot.
Andrew, you are really good at displaying the way these things work. Thank You.
I've enjoyed your podcasts for the last couple of years but this really left a sour taste for me. An awkward and yet miserable reminder of what makes you special as an informative resource for us interested in personal investing. Please don't cater to these egomaniacs. Mostly what I walked away from was that these guys are hung up on their own personal brand more than their vocation and craft. A very good insight into who Sykes is under the covers. I was about to pull the trigger on buying his DVD but now I think that he is more about exploiting the interest in penny stocks than providing real insight. Save me money I can invest much more wisely using your insight.
Derikr, my entire business is based on helping people learn how the penny stock game works and how you can profit from it…give me and the DVDs a chance, I am sorry you didn't like me in this interview, but I will never let crooks like Jim van Meerten off…the guy accused me of fraud and manipulation without providing any evidence, he is true scum and deserves to be tarred and feathered.
I don't play penny stocks and don't follow Sykes or Jim, ut one would think that even if you didn't like Syke's handling of the situation you could appreciate how he brought to light Jim's lack of solid analysis in this situation. But instead, we see a bunch of babies criticizing Sykes and Andrew. Meanwhile, none of you are addressing Jim's name calling and accusations towards Sykes.
Jim asked Andrew to come on the show to give his side, so stop complaining about what Andrew arranged because he gave Jim a chance to show his worth.
So all the babies defending Jim should follow him each day and buy everything he recommends. Otherwise, stop whining and get out of the markets because it will eat you alive. It seems that the old saying of "there's a sucker born every minute" should be revised up because it appears there's more than 1 a minute.
Andrew,
I love your podcast, but this episode just gave me a big headache. These two guys just need to go into a bear pit and sort themselves out. Never again, please!!
Reality check. Wasn't it Mr. Van Meerten who fired the first volley in this verbal war? Wasn't he the first to do some of the name calling that many of the viewers are criticizing Sykes for? IIRC, he accused Sykes of fraud, stock manipulation, and even substance abuse.
I'd like to think that I would remain civil and tactful while debating an issue, but I must admit that if I were accused of substance abuse it would be more difficult to do. So although I sometimes disagree with Tim's tactics — I chalk it up to age and ego — I don't blame him for being upset and badgering Van Meerten to provide some evidence..
And the fact remains that Mr. Van Meerten has still not answered the simple yet important questions he was asked by Tim Sykes. IMO his silence speaks volumes.
Hey Andrew, love your podcast but how can you lambast Greece when the financal mess that alot of the world is in was created here in this country with the real estate derivatives that never should have been sold or bought but were and now have us in might as well be considered the second great depression!? Again nothing personal – love your show other than that cat fight you just had on!!!!!!!!
Hi Andrew,
Thanks for the experiment on the podcast, however, please don't repeat it. I can't waste my time on the bitchiness.
I was thinking about using Mr Syke's DVDs etc, but I think I will take a pass. I try to associate myself with people I respect, and I have lost any respect for My Sykes since this podcast.
Please keep the good stuff coming, I ALWAYS listen to your podcast and read your website. Yours is one opinion I respect.
Brian, what you need to respect is my teaching skills…if anything I went too easy on Jim…the guy has accused me of fraud, lies, manipulation, posting with aliases and substance abuse without one shred of evidence for anything. I have been cutting through penny stock BS for a decade and I'll tell you more than a few things in Jim's story dont add up–namely he still hasn't answered my question whether he approved the use of his name in the promotional mailers and if not, why is he attacking me and not the promoters!
I think I'll skip this listening to this episode. These sorts of ad hom attacks just don't sit right with me.
Tim, in order to absorb the lessons the teacher is teaching, the student should respect the source presenting the material. You might be right as rain, and can make me more money than I can ever use, but that message is lost in the middle of your tirade.
Jim is probably wrong, I never heard of him before, so I probably wouldn't have followed his advice anyway. But the way that you went after him made YOU look bad, not him.
You tirade reminds me of Braney Frank. I can't bear to listen to him, mainly because of the way he deals with people, issues, etc.
I hope that you can take this feedback in the spirit it is given, mainly to say, you are most probably right, but the message could have been presented in a more palatable fashion.
Andrew, nice attempt at a new kind of show but ya it was painful to listen to. I thought it clearly educated the audience on how anyone can post anything on the internet. That was really the only take away. Tim could have been a lot more professional but I believe he was clearly right. No matter what the intent of the millions of people like Jim, posting on the intranet has a ripple affect.
Kerry – you are right on. Many posters here are not looking at the content rationally because they don't like Sykes or how he spoke to Jim and thus feeds their inability to see this situation clearly.
Tugfarms – I have to laugh that you were "horrified" by TDI #151. "Horrified"? Really, because 2 people disagreed on something? That's life, deal with it. I suppose you've never raised your voice at someone? You've never taken a stand on something you believed in or confronted someone over their actions?
Andrew's question call in show demonstrated he has some quality sound thinking listeners that have and are seeking a greater understanding of market aspects and to become successful investors/traders. However, so many of the comments here reveal there are many others that don't fit that description.
You whiny babies that are defending Jim obviously feel just copying & pasting a press release is research. You clearly don't think bloggers or reporters have a responsibility to do some DD themselves on a stock they're writing about but merely put a disclaimer to their writings to protect themselves.
You're probably the same kind of people who cry when a Madoff situation and ask why no one protected you, why no one warned you. Well, here was your warning from Sykes whether you like how he said it or not.
Andrew,
Typically, I enjoy your podcast, but this one flopped.
The stock market in general is a dangerous place for people trying to make money without putting in effort to do research and develop a strategy with discipline to follow it. The low priced, low volume end of the market is especially so.
It should be obvious that most people posting to the public message boards have an agenda to pump a stock up (or down), or to promote their financial service. Your question about Jim's motive was on the money. My take, based on Jim's response, is that he gets some satisfaction sharing his "days up" screen and commentary. He might be wrong and misguided, but that is not dishonest.
Wall Street is full of powerful people doing much more damage. Tim should focus on them.
Andrew,
I actually had to stop listening to that last show. My thought is, I can understand Tim's anger at a system that spawns so much bad advice. However, it is like my anger at the current amount of government spending — I can't take it out on the average bureaucrat who spends, it is the entire structure that needs to be overhauled. My wife tells me not to get unset on my father-in-law, rather get upset with Nancy Pelosi. Anyway, that show may have been needed, but it was hard to listen to.
On a lighter note, what the hecks up with AIG. How can a company with such problems shoot up like that? And, yes, that is a rhetorical question, as I know the answer. My question is, how do you get any real fundamental information on a sugar daddy like AIG? Or perhaps just stay away from it. I have half a mind to either short it or buy a far in the money put with a high delta and long time horizon. Any thoughts?
Thanks for all your good material. Looking forward to a nice light hearted, high energy show next week. I won't say you owe us, but…
dgp
On my blog, Financial Tides, I try to teach you that you need to take a disciplined and rational approach to managing your portfolio. My approach is very simple, I don't charge for using my system and updates are free and can be read on multiple sites. I want you to take charge of your own future. Use Internet tools and your own rational thoughts, you take charge!
The system can be summarized as follows:
1 – Find stocks that are consistently hitting new highs
2 – Look for analysts reports that estimate increasing revenues and earnings
3 – Use other free Internet sites to poll investor sentiment
4 – Always protect yourself from the unknown by using stop losses, either actual or mental
continued
Last Fall I wrote reviews of 2 stocks, their names are not important. I pointed out that although the stocks were having consistent price appreciation, I could not find positive analysts reports or a large investor following. I cautioned that investing in these stock was highly speculative and any purchase should be protected by the use of stop losses.
Sure enough in just a few days the stocks collapsed and I became the target of cyber attacks by some short sellers. Let me explain why. — continued
There are several groups of short sellers who identify stocks that are having upward momentum for no reason at all. They then short those stocks, alerts their paid subscribers to short the stocks and post negative reports across the Internet investing bulletin boards until the stock collapses. They close their short positions and then brag about how smart they are.
The last step is to cyber attack anyone as a stock manipulator, who pointed out that the upward price momentum was unwarranted before they where able to put their short sell scheme into place.
I will not be silenced by the Howard Sterns and Jerry Springers of the financial world. I will continue to point out stocks enjoying price increases for unknown reasons. You should continue to protect yourself from short sellers raiding your portfolio's value by the intelligent use of stop losses.
Financial Tides
Come on, stop losses don't provide much protection for highly illiquid stocks that move 50% in a few hours. Who cares about the groups of short sellers? Are you blaming them now? You put this information out there, YOU are responsible. Have you learned anything from this?
Enter text right here!Please please no more attack-dog podcasts. I was embarrased for both of these guys. Who needs this kind of trash-talk? This was a 15 round fight that should have been called in the 3rd..
To Andrew:
Well, you did your best to give jim an opportunity to give his side of the story as he requested. He was unprepared for the interview though. If you had not brought him on you would've been accused of favoring Sykes so you can't win with the ignorant ones here. This has certainly revealed who really believes in you and who is ready to turn on you if you do or say one little thing they disagree with.
To Jim Van Meerten:
You never have answered Syke's questions or regarding the claims you made against him. Where is your proof? You never admitted you research wasn't thorough on the penny stocks discussed. You shouldn't even be writing up on stocks that you say long term investors and day traders should be avoiding. Why don't you set your illustrious scans to pick up those above $5 to avoid them all together?
If you're going to claim to educate and write a blog then you have the responsibility to do excellent top notch research. A disclaimer to protect you and an admonition for others to do their own due diligence does not relieve you of your responsibilities.
To Tim Sykes:
Tim, thanks for the info you brought up about penny stocks & promoters and the potentials for fraud and misinformation in that area. You were right to bring up what you did and you had the facts to back it up and also refute Jim's claims about you. Even if things hadn't gotten heated up I still don't think the outcome would've been any different.
To all who complained about this TDI #151 episode:
Most of you claim to be loyal listeners, yet have rarely if ever posted comments here before. Why not? Yet with this episode you felt compelled get on your soap boxes with stones in hand to judge, complain, rant, cry foul, call names, and act like a bunch of whining babies because 2 people had opposing views and heated words were exchanged. My God, you'd likely suffer a concussion if a feather fell on your head. Really if you're that easily shaken emotionally, don't play in the markets because you're not equipped for it.
Could the 2 guests have handled things with more tact and maturity? Yes, I believe so but really, was it that intense? I mean, none of you have ever had a disagreement with someone? What if you were accused of fraud? Drug use? Incompetence? Would you just smile and say "thank you"? At least there are a few here who are able to see the exposure of poor analysis, lack of information or misinformation that can be found on a blog, how some writers and areas like message boards should be avoided and the dark areas of penny stock & promotion world.
Mr. Van Meerten – Could you please clarify something for me?
In your article on NXTH.OB linked below you wrote the following opening:
"On Financial Tides I usually don't look at small speculative stocks but the technicals on this are too good to pass. Please follow my stop loss recommendation".
http://seekingalpha.com/article/168701-nxt-nutrit…
So if it was too good to pass on, why weren't you buying? You felt it was worthy to write about and for others to consider buying and you kindly offered your expert advice but you weren't willing to put up your own money?
Jim, stop with the sugarcoated generalizations, when you discovered the stock promoters were using your name on absurd promotional mailers promising investors would double their money as a worst case scenario, why did you not attack them? Did you know beforehand that they were going to make you an accomplice in their scheme? Do you understand that when promotional mailers pitching hype are sent out and the person paying for such a mailer is selling shares, that is the very definition of a pump & dump, a pump and dump to which you are now an accomplice? Respond directly…for once….you say I lie, manipulate and short attack when in fact I simply expose these promotional mailers…..u have my DVD, u know how these stories end, answer me
Hey Andrew,
So I think Im one of the few people who enjoyed the episode, I guess I don't mind chair-throwing. It was fun, not as educational as usual, but we have 150 other episodes for that.
What I took away from it is actually a good amount.
1. People who right articles on websites, newspapers, and magazines are actual people, people who may have agendas, poor education, or poor philosophies. Thats why I always believe in reading as much as you can. Try to get a balance if you can.
2. Both Tim and Jim have some truth to what they are saying about each other, and some not truths. It just speaks to me how people are just people! Including well-known people who run websites, write articles,etc!
3. Tim, self-avowed in your face guy. This doesn't bother me, thats his style. Also I love what he is trying to do. He himself grew a lot of money out of little on a scale that is true for most people investing today. I think people do need to be told about his experience. I am really intrigued by his ideas, I think they are great. I do wish there were other ways for us poorer people to make reasonable returns without necessarily having to go the penny shorting route. Anyone have any ideas on that? Whats always been a contradiction though to me Tim is that as bad as penny stock promoters are, and as bad as they companies are, you can't hate them too much can you? Without penny companies and promoters you wouldn't have been able to make all the money you did, would you? Even though you are contrarian, don't you still rely on the promoters nevertheless? They still seem to part of the hand that feeds you.
Just a thought, I still respect what you do.
4. Jim to me represents the old world of investment news. His resume speaks highly of him, but he didnt do his due diligence. And lets be honest, Jim got pointed out on these articles where he made mistakes, but I think that there are many more even well-known people have probably done the same thing and written articles without enough research on it, who did not get focused on. I think even if Jim did nothing wrong, I disagree with his 10-day growth screener in the current environment. People have philosophies that work in some environments and not in others; but the most common denominator is that people don't change their philosphies with the changing environment. Thats why its really hard to believe a lot of peoples outlook, and again you have to read around.
Again, Andrew thanks for this podcast and as grating as it was, I definitely took something from it.
My sites were flooded by you and others leaving comments that were juvenile, abusive and in some cases obscene. I deleted those articles & commnets and now had to put comment moideration software in place
no one contacted me about using my articles nor do I know any of the individuals you have named
All major brokerage firms have rules: No analysts is allowed to invest in the companies they follow and no employee is allowed to invest in a stock till the analysts' reports have been public for at least 7 days. I agree with that rule and follow it. I do not write about any company in which I have a financial interest
Others think it is OK to short a stock, send out alerts, write negative articles and post negative comments on bulletin boards and then close out their short positions at a profit.
I don't think that is OK; do you?
For which major brokerage firm do you work as an analyst?
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Yes I do need penny stock promoters and promotional mailers that feature Jim van Meerten, but I will not sit back when these stock promoters and their accomplices and their tools (we still don't know if Jim is an accomplice or a tool because he refuses to answer the question whether he gave the stock promoters approval to use his name or if he didn't, why is not attacking them instead of me…I would die before I let a stock promoter use my name on a hyperbolic promotional mailer on a company whose sales dropped 60%+ and whose messages is "worst case scenarios investors should double their investment"
Not to mention for him to claim I am trying to sabotage the stock while I am short and not disclosing it (Andrew's podcast was in late January BEFORE the 2nd mailer went out, I was not short as I did not short until mid-February AFTER the mailer with Shaq's compensated face and Jim's stupid face on it had tripled the stock)…Jim stinks of 100% pure ignorance and/or corruption and I should've gone much tougher on him.
And then for Jim to write blog posts accusing me of fraud, manipulation and lies and telling NXTH investors to complain to the SEC about me without backing anything up, well, the guy deserves to burn…only good thing is if the SEC did investigate, we might be able to get to the bottom of Jim's role in all this.
As it is, CLRH had to refile their financial statements and NXTH has now dropped 80% from where Jim recommended it. The funniest part is on the podcast he says even day traders should not touch these stocks–so why the heck are you writing about it Jim? Especially when you don't bother reading the SEC filings. This guy is a cancer and he's even an embarassment tot he stock promotion industry…since I want stock promotion to continue, we can't have people like Jim messing it up for everyone on both sides of the tape…there's room for suckers, but they are the ones who buy these stocks, they should NEVER have the ability to write mainstream articles….I think Motley Fool is waking up to that.
Here’s another point to consider: Say there has been a huge manipulated/hyped run of a penny stock that we all know is a scam company…every pennystocker out there is just waiting to short this thing at the right moment. Then that moment happens but now theres so much shares short (because of it’s popularity) that every trader now is vulnerable to a short squeeze.
It is now safe to log on my site Financial Tides. I have put in comment moderation. The morons who are Timothy Sykes followers were flooding my site with crude, juvenile and sometimes obscene comments.
Thnaks to everyone else who left thoughtful comments
Jim, you still haven't answered my simple and very non crude question–did the promoters contact you ahead of time that they would put you on such a questionable promotional mailer? If not, why are you not attacking them instead of the guy exposing them?
Open question for Timothy Sykes — Tim,
Confession is good for the soul. I'd like to ask you a question: Have you recently or ever committed the unethical practice of buying or shorting a stock in your personal account or the accounts of a family member before you gave a recommendation on that stock to your paid subscribers and newsletter readers? Inquiring minds want to know.
Jim, my friends, famly and students all trade before, after and during my trades because I've taught them all openly, just as that free dvd i sent u teaches…I don't keep track of their trades, but i disclose ALL my trades, entry, exit and my subscribers know within seconds…remember when u thought i was short NXTH when i was on andrew's late january podcast because i was ripping on the company? Nope…i was ripping on this shell long before i shorted in early february…you're just not smart enough to realize the dates…although you should because your name was plastered on the frontpage of NXTH's latest promotional mailer.
you say you haven't had contact with NXTH's stock promoters, but you still havent answered my question…why are you going after the guy exposing the promotional mailer when you should be going after the promoters who used your name without your permission…if a stock promoter ever put my name on a pamphlet that said absurdities like "worst case scenario you will double your money", i'd sue them so fast..yet you seem to be content with them and blame me for the 80% stock dive…answer me old man before it's too late please, you know where you're headed if you don't :) (probly going there any way for sucking in so many people to 2 companies with promotional mailers and the same CFO
Nice episode. I really read & appreciate it.
Awesome post for a beginner in stock market like me…
Great information. When you start penny stocks trading career you first need to decide how much you are wiling to invest. You need to remember that this is not a “sure-fire” income opportunity and that it is possible that you may lose everything, so be sure not to invest more than you can afford to lose.
Accountant, Accountng solution, Accunting Consulting…
Cost estimating is a science but pricing is an art. After the accountant has calculated the cost of producing a product, the salesman should be brought in to help the management determine the selling price. The salesman, if he is good, has a good idea …
Penny stocks can increase ones trading profits in spades with a lot less risk. One need to be able to do a quick scan of the thousands of penny stocks that there is in the market and knows which ones have the highest percentage of going up.
Good topic write now. You whiny babies that are defending Jim obviously feel just copying & pasting a press release is research.
If you want to invest your hard earned money for growth, don't worry. Choose only ,penny stocks, & be sure about profit.
[...] importantly, as you might’ve heard on our podcast battle on The Disciplined Investor, the guy picked those stocks without even understanding that they were promoted nor did he bother [...]
Sound advice from very accomplished investors. Thanks.
cool post. I feel like you hit the nail on the head.
I think the comments here are as good as the content… thanks for moderating them appropriately.
Timothy Sykes is obviously an idiot. Even more so are the ones that follow him. I've seen infomercials like tims websites playing at 3 in the morning. Bunch of garbage. What i think is the most interesting if tim was such a good investor, the why after examining his financials does it show losses when stock trading but financial gains from selling DVD'S and advertising money from company's who post links on his sight
Nice article, comments here are entertaining lol
i am in search of easy way to know about online stock picks. Do anyone here knows about this?
Great article and straight to the point. I don’t know if this is really the best place to ask but do you people have any thoughts on where to get some professional writers? Thank you :)