Paid basher repenting/ hoping to undo damage

Discussion in 'Trading' started by Option Trader, Mar 5, 2006.

  1. I received the following email from my uncle about a confession of a paid basher.


    The Iceman

    Today posted the following under the news section on

    Confession of a Paid Basher

    The following was found by goldstocks posted on PTII board.

    Today I want to come clean about something I feel very badly 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.
  2. i also wonder about the iceman. he is constantly hyping little pos stocks that he has recieved hundreds of thousands of shares as a fee for promoting them. he is an internet version of those hype newsletter flyers we all get in the mail. is that kind of stuff legal?
  3. LOL !

    very interesting. however, it is my contention that it's urban myth.

  4. letter is several years old. Given that it has been circulated ad nauseum, it is probably a fake, put out there by a frustrated investor or whatnot.

    Bashers are paid. I nailed one a while ago. Don't know where he went or why, but he does not raise his head.

    There is a firm connected w/Refco that had some 200 employees. 7 were registered, the rest were internet bashers. They are out there.
  5. which is worse pump and dump artists or bashers? there are probably 100 times as many pump and dumpers as paid bashers.
  6. I love America...

    It seems to make money many resort to dishonesty...Do they make the most?

    Look don't get me wrong, I was born in Los Angeles (Burbank)
  7. I am an unpaid basher, my current project is a yellow chicken known as rubberbird.
  8. Why does one have to be worse than the other? Is bank robbery worse than embezzlement? They are both illegal, and need to be stopped. But w/the money to be made from both enterprises, it is unlikely, unless citizenry gets involved, and they are too busy trying to get health insurance.

    As long as Congress is well taken care of............ That's all that matters.
  9. An ant is maybe the biggest horder--hords a lot more than he could ever eat in his lifetime--and never resorts to taking something that belonging to his fellow ant.
  10. Agreed, and for those who keep score, Randy "Duke" Cunningham, originally elected to California's 50th Congressional district, was encarcerated on Friday I believe for taking bribes and kickbacks from his constituents. Sentenced to eight (8) years, or one hundred (100) months for his poor judgement, greed, avarice and lack of character.

    Apparently he took your comment "make sure congress is well taken care of" to heart.

    I hope the greedy bastard dies in prison.

    #10     Mar 6, 2006