Someone posted this on one of the threads. It's from reddit. I don't know if it's true, but there certainly are individuals who engage in this sort of thing eg. BRN thread.
If you can spot them, you're protected. If you can't, then that's what TA is for. Volume can't be faked. Well it can, but it's difficult.
WHY DO PEOPLE BASH STOCKS?
Today I want to come clean about something I feel very ba7dly about. I
cannot undo some of the things I have done, but hopefully this message
will prevent other such occurrences in the future.
I am a paid basher.
Yes, it is true.
Today is my last day at this company; I’m moving on to a new job. I’ve realized that there are more dignifying jobs out there that can pay me equally as well. But before I go, I want to explain a few things because this just isn’t right and I won’t feel good about myself until I expose this sham. It’s hurt too many people and I don’t want it on my conscience anymore. I can no longer live with a lie.
I work for a company called Global Calumny Funds in Stamford, CT.
Basically, it’s a Boiler Room much like the one in the movie of the
same name. The idea behind my group is to bash the price of a
company’s stock down low enough to where the group of investors who
retained our company’s services can buy the stock really cheap and
perhaps even take it over all together.
There are approximately 70 people at the company divided into several
groups. My group, consisting of 5 people, is responsible for IDWD.
While I probably shouldn’t give any names of anyone working here now,
what the heck, I’m leaving here, so what can they do? sue me? Ha! I
can tell you that laptoptrader and janice shell were part of my group
until he left last week, as was ninaturtle.
Others who have been part
of this include early bashers like hard data and Investorman. You may
be interested to know that some hypsters, such as MONEYMADE and even Datatech!!, have also been part of the scam (more on that later).
There are several companies engaged in the bashing business, ours is
not the only one. However, I can tell you that not every basher in
here is a paid basher. Having done this for a year, I can usually tell
who is a paid basher and who is merely someone having a little fun.
While unpaid bashers have a different motive than
someone like me, they can be unwilling accomplices to helping me
achieve my ultimate goal and they also spread rumor and confusion
throughout a room, which also helps me.
What is that goal? Well, I am merely a cog in a much larger machine,
so my bosses never really explained the big picture to me, but I’d say
essentially, Shaddowwatch2oo3 was right. There are several companies
who are quite familiar with Jim Bishop and Janice Shell and who are
deathly afraid of them.
There are three types of bashers here at Global Calumny Funds:
Advanced, Intermediate and Beginner. An Advanced-level basher (also
known as a Silver Tongued Devil) would spread false or misleading
information about the company.
They would deal in facts, countering every longs post with articles,
news reports and opinion surveys that gave a negative impression about
the company.
An Intermediate-level basher (also known as a Serpent) would try to
weasel their way into the confidence of longs and create doubt using
rumor or innuendo.
Finally, a Beginner-level basher (also known as a Pitchfork) would
attempt to create confusion in the room by distracting other posters
with satire, name calling and pointless arguments. The idea was to
make sure no serious discussion of the stock could take place.
A Pitchfork was usually a basher, but not always.
Sometimes, we would throw in a hypster Pitchfork such as MONEYMADE and laptop and a pumper like Datatech to create the illusion of an argument going on. What was really funny (in a perverse way, I guess) was that Datatech and I sat next to each other, laughing the whole time.
I was a Serpent basher, because I am known for effective bashing based
on solid facts and truth. I was paid a base wage of $18 an hour for my
services. I was given a $1.25 bonus for every decent quality post over
100 per day as well as a monthly bonus of $100 for every penny the
stock had dropped from the previous month.I was also paid a bonus for
bashing on weekends. While this may not sound like much, I made a
decent, though dishonorable, paycheck plus a nice Laptop with free
wireless internet connection.
Each of us sat in a small half-cubicle in a cluster with our
teammates. Each group (usually five people) was made of three
beginners (two who would bash and one who would hype), one
intermediate and one advanced level basher.
Occasionally for some of the hotter stocks, one of the beginners would be replaced by an intermediate depending on how much the stock was rising. IDWD was a low-level stock, meaning it got the 3-1-1 configuration.
Honestly though, somehow, I get the feeling that WV Hillbilly may have
worked for a basher company or knows someone who does because the fund websites he occasionally posts is eerily similar to our employer’s
websites. While not exact, I’d say it is about 90 percent the same. We
do have certain rules that we follow.
First, we have to develop a character and stay within that character
in order to build a “following.” My character, “FogOfWar,” was a
humorous, sarcastic, obnoxious supporter of free speech and loved to
portray himself as a truth-telling superhero, but only when it came to
bashers.
Next, we had to follow certain guidelines on what we could say. We
were urged to have an “answer” to every long’s question, but we were
to frame that answer in a way that ridiculed the questioner for asking
such a question. However, we were never to use profanity or vulgarity
because that would cause people to ignore us. We were to make fun of
people, but in a civil way. The idea was to get “play,” i.e. reaction
from other posters. The more play we got, the more the room would be
disrupted. Ignored posters get no play.
One exception would be the
hypsters since they were “defending” the stock against our onslaught,
they got a little more leeway. People would side with the hypster
because they thought he was real since he appeared to be on their
side, but was really on ours, setting us up to disrupt the room.
MoneyMade was quite good at this and gets paid very well.
I’ve worked on IDWD, VLO, AGII, QBID, BKMP for a few months now.
In addition to the FogOfWar alias, I’ve used a few others on several
other boards as well. I’ve used so many aliases that I can not
remember the monikers or the passwords. I honestly lost track of
everything. I stuck with FogOfWar because it was the one that got the
most play from other posters.
In closing, I feel absolutely terrible about this. It’s just awful how
I’ve been part of a scam designed to cheat honest, hard-working people
out of their investments all for the benefit of a few wealthy people who already have enough money to last a lifetime.
These greedy people MUST be stopped. That’s why I’m posting this
before I leave. I want to make up for some of the damage I’ve done. I
can’t live with this lie anymore. You can’t imagine how hard it is to
look at myself in the mirror each morning knowing my job is to cheat
and lie.
I have to go now, I’m too broken up to continue. I hope this
confession can make up for my sordid deeds; I would urge everyone who
reads this to inform as many people as you can. Only by shining the
light of truth can we drive these rats back into the darkness from
whence they came. Believe me, they don’t want publicity.
Good luck and I hope all of you the best in your investment endeavors.w
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