Removed some posts

Removed some posts upon request from a relevant party. My surprise to receive such a request, saying that my posts were misused by other parties. I don’t know who they are and what they do, but like any writers of research reports, news articles, books, we can’t really control how other people use our work. So, I don’t bother finding out.

My thoughts: Firstly, I don’t think I wrote anything wrong. It’s my own analysis and opinion based on my own experience. Secondly, I don’t think my posts were any influential to deserve so much attention. Any experienced analyst will be able to write something similar.

But I took down the posts because of one thing: I don’t want people to keep bothering me to remove them. Emails, phone calls. That sucked up some energy and time, which I’d rather spend on finding good stocks. Also, I don’t receive any compensation or benefit in writing any of my posts, so why get myself involved in other people’s affair and waste my own time?

It’s half year reporting season now. Gonna be busy. Use time more productively.

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2 thoughts on “Removed some posts

  1. I noticed that you have removed your posts on 8i holdings, digimatic and velocity. I believe these posts are your more popular ones.

    There has been an uproar from the members in 8i’s education program, MIP investor program, as digimatic has since fallen to 4.2 cents aud, from an ipo price of 40 cents aud, the special members who paid 8i to join the M-circle were offered shares at 20 cents aud. Many have not sold, and are sitting on a huge loss, 80% of their investment. It is no wonder the prices have fallen, considering that it was an extremely overvalued price when 8i sold their stake to the M-circle members and ipoed the company at.

    Your article on the dubious transactions done by the company is being shared among the members. I believe it is people related to the company who have come to you to request to remove the posts.

    That you have removed them is a disservice to the members and the public at large.

    Many of the people subscribing to 8i’s investing program do so because they do not have the financial sophistication to invest, and believe that by paying a fee they will be able to obtain a good grasp of investing.

    Many of these are mom and pop retail investors playing with their retirement money, and there are also many who invested with their life savings.

    They have paid a premium so subscribe for pre-ipo shares in a company they believed would be worth much more than what they were sold.

    The reason 8i does not want articles like yours out is because they intend to launch many more IPOs of similar dubious background as digimatic and velocity to members of their investing program.

    The velocity ipo has been launched, however all the members who have purchased are subject to a 2 year lock in period. I heard it was sold to members at 14 cents aud. The ipo was at 20 cents aud. It is currently trading at approximately 18 cents aud.

    8i is claiming that this is a large gain for the members, as their purchase price was at 14 cents aud. However the reason the price has not collapsed is because there is no volume for velocity, and members are locked in. It is likely there will be a run for the doors when the lock in period expires.

    New members to this ‘value investing program’ are unlikely to be aware of the situation with digimatic and velocity, and will likely fall prey to the same sales tactics of the company.

    I commend your previous articles, and i think you should not pull them off.

    Like

  2. Hi Anon, thanks for your comment.

    Yes, I received emails from 8I to meet, which I declined. But after that, I received the calls directly from the 8I CEO in one morning. The call dragged longer mentioning other parties misuing my posts, possible libel suit against them, etc. I was busy that morning and didn’t have much time for a long call. Maybe I agree too easily to remove the posts or I should just ask for another time to call.

    It’s easy to write and remove my posts, but it’s harder to go back against my words now.

    I don’t know anyone related to 8I, be it customers (program members) or staff. So, I never hear their stories directly. I only hear from some comments on my removed posts.

    Sad to know if there are many mom and pop retail investors who are risking their retirement savings. A friend of mine lost his and his parents’ saving to a property investment scam (reported on newspaper 2 years ago), and it’s devastating. I can’t describe how a life’s of hard work is gone instantly.

    I think the financial market should have a system to help the ignorant, but unfortunately, it’s working as a self-interest system.

    Like

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