Monday, November 17, 2003
What's hink? Byron does it again. He says it's Xcelera (SYM: XLA), the dot con company that keeps going and going and going with a P/E of 295 and year and one half old out of date filings sent in from the great state of, um Grand Caymen, the world's dirty money capital. But hey, what's a little inequity have to do with America's capital markets? He also explain how in the stock biz, you can fool all of the people all of the time because the stock cops are under staffed, and underfunded and unconcerned with the trash talk companies have been doing for 70 years, starting with Joe Kennedy's syndicate work until he became the first commish of the SEC, the original fox in charge of the hen house. All this leaves a big hole in the system that sends pot pushers away for 25 to life for what they do, while white collar guys, who destroy whole counties by cleaning out pension plans get to go to florida for 2 years and network with other three card monties, so when they get out, they are better equiped to get away next time. It's an old story, but one that bare repeating, as Byron demonstrates in today's nypost.com.
Hinky 12:53 PM
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