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The Latest Financially Illiterate Financial Journalist, Too Funny…

Posted by Timothy Sykes on Tue 16th of Sep, 2008 03:57:25 PM
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Yes, I’m always ragging on financial journalists and no it’s not cuz of my ego, it’s cuz they’re a bunch of friggin morons! People who majored in journalism shouldn’t cover business/finance cuz the rules aren’t the same, companies and people, especially CEOs, management, ANALysts, PR firms and newsletter blatantly lie to try to lure in investors.

Considering how often reporters get it wrong, it shouldn’t surprise me or you to read THIS article…except nobody’s lying here, the reporter–who goes unnamed…fortunately for them or they’d be the butt of all jokes for quite some time–just doesn’t understand how stock splits/the stock market work.

No matter that it’s an actual AP article–considering the international distribution they should–theoretically–be held to higher standards–the article entitled “Revlon shares rise on unusual split” says:

(AP) - Cosmetics maker Revlon Inc. on Tuesday said it completed its 1-for-10 reverse stock split.

The stock began trading on a split-adjusted basis when the market opened.

Shares rose to $10.26 from $9.01 during morning trading, after closing at $1.25, before the stock split was implemented…

Do the math in your head, see what I mean and then feel free to laugh out loud..

And consider that 1-10 reverse splits aren’t that unusual, many failing companies implement them. What’s unusual is that this reporter is allowed to publish their stupidity for all to see–10 x $1.25 is $12.50 you friggin moron, the stock is down on the day!

Holy shit guys, this may be just one little article, but it’s representative of the entire flawed financial industry…morons actually have power when they really should be back in school learning mathematics.

PS REV does look to finish up on the day around $13, probly in part due to dip buyers encouraged this erroneous article.

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  • freddie
    wow timmy hasnt made a trade in forever.. no suprise
  • The morning watchlists... are those considered the "tim alerts" or are tim alerts something different?
  • no pumped up penny stocks righ]t, now, its only been 8 trading days, people have been spoiled, no rush, just waiting for ideal trades
  • morning watchlists are just potential plays, i send out TIMalerts when i actually trade
  • younggunz
    But when it's hot it's hot. just wait.
  • mike
    cool Timmy.

    still stuck on 26,000, huh. I thought once you passed the 25,000 mark gains of 10,000 would be common place. Still sucking out sub $1,000 gains?

    Lets go, I like you, I think you have true genius when it comes to marketing....trading, not so sure.
  • CABeachBum
    What happened? This site looks like it was designed by an 8th grader (no offense, underpaid 8th grade web designer!). I thought you were raking in the Benjamins, Tiny Tim. It's not living up to all your hype. Fork over some Benjamins and make it better. After all, you've been making the claims that you're a rich bitch, so make your site look like it instead amateurish.
  • Haters coming out of the woodwork on this post...guess they are upset at their losses? I dunno. I think that article is hilarious and irresponsible at the same time.
  • mike
    dude, you call yourself "proficient" yet pay someone 29.95/month for stock ideas.

    Hardley what I would call proficient. Go ahead and take the picks, but don't call yourself proficient in the process. clown.

    Anywho, I wasn't hating. Tim said, once he passed 25k, 5 figure gains would be common place, (did you not tim?). I simply pointed this out.
  • LOL, funny comments, keep it up...i'll trade when i see a multi-day setup for low risk 20%+ moves...thought about EWFT today, but i hat buying bounces, really need some panic which we never got
  • and paying 30/month is peanuts for all the work i do...less u forget, already up 5% on the month and kept my students out of the market during all this mess...sometimes the best offense is to stay on the sidelines
  • mike
    have no problem with someone payin gyou 30/month. I actually think it is GREAT. I wish I knew how do get 29.95/month from 500 people. probably hard work.....

    I do have a problem with some yahoo in his moms basement paying you 30/month for your trades, than calling himself proficient. c'mon, you must, too.
  • total_keops
    I might be wrong on that cuz English is not my first language but what I read is RIGHT.
    Two things are said;
    1- Share rose from 9.01 to 10.26 in morning trading.
    2- Share closeed at 1.25 yesterday.
    It's not said that they are up on the day.

    Get Palian to delete this post. We will keep it quiet, lol.
    You really spent your time on the library computers at college ;-)
  • CABeachBum
    He meant his username to be "theinefficientinvestor", but accidentally spelled it wrong.

    $30/month isn't worth it. It's obvious that you've become distracted from your originally business model. Your posts used to have some value. Now you're blog battling with some fictitious investment banker, trying to shoot lame Beastie Boy wannabe videos (which, by the way, when can we see it?), and wasting your time pushing your DVD and book on every financial blog and message board in cyberspace. I'm sure I'm not the only one who's noticed this.
  • its a screen name, who cares.

    TK u serious? when the reporter wrote REV shares rose, the stock was down 20% on the day...sure the per share stock rose but the value of the investment was down big
  • Guest
    Laughed out loud when I heard you on cnbc talking to everyone about penny stocks, I think it was more than a year ago. Keep it up and check out my place http://www.distressedvolatility, sorry no penny stox here though.
  • LOL beachbum, original biz model is to prove penny stock trading is a great strategy, proving it every day, even when not trading, i hold onto my 100%+ yearly gains. everything else is just fun, u think there's no value, dont visit, we wont miss u
  • and as i say far too often, if u cant risk losing $30, u shouldnt be trading, go mow some lawns so u can see how meaningless 30/month is
  • mike
    just checked out theproficientinvestors blog. Hysterical.

    I stopped reading when I saw you bought 18. 1-8. Eighteen shares of AAPL @ 166. What's a matter, couldn't afford an even 20?

    Dude, you lose creditiblity with me on that one. Give out trading advice, and you go long EIGHTEEN shares????

    Oh, with AAPL closing at 139, you be down 16% in 10 trading days. Hardly proficient and hardly worthy of your own blog. YOU I will hate on.

    Timmy, I dont hate on him, I simply want him to STEP UP....
  • Dualmang
    He's saying if the company did a 10 for 1 split based on yesterday's closing price (1.25), how could the price have gone up in morning trading from the mark price of 9 -- and produced additional profit?

    If shares opened at 9, it would have been approximately a 7 share stock split -- not a 10.

    Also, the journalist sucks because he/she is lazy and implying this reverse split is a great thing -- and the sky is the limit for the stock price. He/she should have quoted someone saying that crap companies do reverse splits because it makes them LOOK like they AREN'T going to tank.

    And, most journalists are required to have a master's degree to work in financial journalism, which makes this article more pathetic.
  • total_keops
    I stand still on my opinion.
    The open price has nothing to do with the split ratio. The ratio is decided and implemented on the ones owning shares and then people bid/ask whatever price they want the next day.
    Shares did rise in the morning, they opened at 9.01 and went up to 10.26. He did not say they where up from yesterday.
  • TK, if AIG opens down 20% and someone writes an article when they're down only 7% on the day, should the article be titled "AIG shares rise"? no of course not, its a ridiculous title and the journalist show their true colors by not even knowing about reverse splits...screams intern
  • Dan
    BeachBum, you tard, it's likely Tim has made more money than you will make in your entire life. Quit hating. He's has a following because he's a proven winner. Yes he's made mistakes but every single investor in history has made mistakes. How about you give us some good picks for tomorrow hotshot?
  • total_keops
    Holy c, I did not see the title. I was just reading the text in bold. Then yes, he's wrong of course.
    Mea culpa
  • Getshorty
    COIN announced redemption of COINW warrants after hours and price dropped to $ 7. I guess because of the expected dilution. Trying to make my mind whether to close my small short position (for the tiny 100 shares I was able to get yesterday) or hold overnight
  • AmericanDream
    Holy sh*t you watching Cramer pissing on shorts!!!!!!! Fu*k Him
  • Getshorty
    Here is an attempt of an explanation I have posted on the COIN yahoo message board, will appreciat if somebody can point if there is some mistake in my logic.

    Having COINW warrants as of today allows you to buy 1.276 shares of COIN at a price of $8.25. that is, one share of COIN will cost you 8.25/1.276=6.47. So it would make sense to execute the calls only if the price is over $6.47 (then you can buy the COIN share at $6.47and sell it at the higher market price).

    So, the notice of the redemption of the shares is creating big pressure on the stock price to converge to $6.47, since market is incorporating of the price the fact that if the price is over that on october 17, people will redeem the shares, therefore make COIN issue shares and diluting the stock until either the price is $6.47 or everybody has exercised their warrant, whatever happens first.

    That is why the price of COIN has dropped after the announcement.

    No crystal ball here, don;t know if the outstanding warrants will be enough or not to take the price to $6.47, but they are pushing on that direction, that's a fact.
  • CABeachBum
    You and your followers would miss me if I left, Tiny Tim. I speak the truth...and I get you ratings. Notice how the blogs where I chime in get the most responses?

    And for you, Dan the little man, until Tim has property on the beach in So Cal, he hasn't become more successful. If you wanted a great BeachBum alert, you should have been following me this morning when I alerted everyone to buy PDRT at $0.20. You could have nearly doubled your investment. When was the last time Tim sent an alert that doubled? Come over and mow my lawn, Dan. Instead of paying you, I'll sign up for TimAlerts so we're all happy. Deal?
  • AmericanDream
    i beachbum you can help me i need all the help i can get!!!!! neilstatler@hotmail.com
  • MIke, why are you trolling here?
    First, I'm not a subscriber to Tim's Alerts service and he will verify that. I come here for perspective. I don't trade the same way Tim does and I don't give trading advice, I talk about what I do. If you read anything more than one paragraph you would understand what trading around a position is. I've made money on apple time and time again and will continue to do so.

    Admittedly, I'm one of those "sissy value investors" Tim talks about, but it's fine. I know what my buying and selling points are, do you? Are you picking random stocks for no reason whatsoever?

    I hate responding to trolls and whatever you mean by "Step Up" you can follow my trades on Covestor. At least some of us are open about our profit and losses.
  • Tim, here's a funny video you should add to TIMtv, gotta see it for yourself man:

    http://www.youtube.com/watch?v=txDWRR5WRFQ
  • Tim ever thought about being a ceo of an investment bank or insurance company? Your youtube trading instruction video shows you have some good risk management techniques, I'm sure our financial system would've been better off with you trading penny stocks than originating toxic securities. Is ADOT still in business? What about Tropical Beverage. Usurf America was a great one too!
  • Guest
    Prime Holdings! the ceo would put out shareholder letters
  • Busta
    How about SCHW long....its not a penny stock but those OCT 30 CALLS look great
  • theproficientinvestor: What exactly are you talking about when you say, "I don't give trading advice?" I mean seriously, if you go to your blog, the header reads: "The Proficient Investor: stock market news, INVESTING ADVICE, stock picks." Scum.
  • Gordon
    timmy - you little bitch! i loved you on WSW. didn't you major in philosophy? did you even take a full course load to qualify for a real business/finance/economics degree or was it just a few shitty classes? also, and sorry if it was asked before, but did you ever get to bang that eurotrash model or the jew lawyer/"dealmaker" from WSW? CLOSE MOFO! CLOSE!!! p.s. it took me until 35 to accumulate my first $1M. but i still have it - now have $1.4M. but kudos to you anyway. you're great entertainment.
  • Tim, speaking of WSW, I watched season 1, episode 1 last night. Gordon mentioned that ugly fake blonde "model-dealmaker," I thought she was a joke going around NYC dressed like that, I'm sure people get the wrong impression. Anyways, I bought the season because I've heard so much about it then in the beginning you aren't even one of the main characters? I thought maybe you were on season 2 or something instead, until I saw you in the preview for episode 2 kicking over something in your apartment and yelling, "I made a million dollars!" So you're in season 1, with a small role? Are you in season 2?
  • mike
    ain't trolling son. I simply asked timmy where is 5 figurte gains are. you said "the haters are coming out of the woodowrk"

    I specifically stated I like tim, and think he is very smart. how is that "hatin'"

    you need to keep your mouth shut. just because I dont come on here and get on my knees so the top of my head is at tim's waist, doesn't make me a hatter, son.

    I didnt call his strat stupid, dumb, or a waste. Simply asked him where the 5 figure gains are....sorry for asking a question that challanges your heros credentials in an open forum.

    Go buy 7 shares of GOOG, stiff.
  • younggunz
    Wow the markets get a little screwy and the beach bum comes crawling out of his cardboard box in SoCal. To be honest I don't think anyone would miss you if you stopped coming around. Yeah you are helping Tim out by coming on here acting like an arrogant shit head.

    Even if you are as successful as you say you are you sure don't do a good job convincing anyone if you even bother to try and post crap on Tim's blog about how you think you're better then him. Seriously what are you trying to accomplish telling everyone that Tim isn't a good trader. Tim already beat you to it and said that same damn thing himself.

    Is he a better self promoter then a trader? Yeah probably. Thats where I think your jealousy stems from. I think you have a site of your own don't you? I wouldn't know but I think you had a buddy join you on here once that referenced it vaguely. I bet it isn't as successful as Tim's so you get all bent when you see some punk ass little Jew that's never had a real job kicking your ass.

    If you really want to show you're better then Tim then get on Covester and do it. If you're not trying to prove you're better then him to everyone then why the hell are you wasting so much time bitching about it on his blog?
  • Caisse
    No need to rush. If there are no plays I feel happy to stay out of the market.
  • ryan
    you do realize that by updating an online financial blog almost daily, you are essentially a journalist.
  • NOVA
    LEHMQ went up 284.62% today
    is this stocking gonna keep rising?
    should we just keep buying the intraday breakouts?
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TIM Trades

View All
Date Stock Buy Sell Net
Nov 6 QXM $4.31 $4.80 $1936
Nov 4 COT $8.66 $8.88 $642
Nov 4 QXM $4.61 $4.89 $822
Oct 30 DDRX $25.70 $26.53 $812
Oct 29 CTDC $4.00 $4.42 $781
Oct 26 AWSL $3.24 $4.10 $2516
Oct 23 RODM $5.27 $5.23 $301
Oct 22 AMLM $2.69 $2.97 $820
Oct 22 USEG $6.12 $6.09 $85
Oct 20 CBOU $8.93 $9.06 $243
Oct 16 VRMLQ $16.79 $18.65 $2773
Oct 13 YONG $11.05 $11.66 $1202
Oct 13 NPHC $0.59 $0.71 $583
Oct 12 IMGG $0.60 $0.70 $682
Oct 9 ZAGG $5.50 $6.10 $2380
Oct 7 GVBP $0.03 $0.27 $702
Oct 1 NPHC $0.70 $0.85 $1482

Total: $92,304 (644%)