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What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

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Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#61

Post by lucianbr »

vincnetas wrote: post #29
lucianbr wrote: post #21

Earlier quoted context omitted.

> The 2007–2008 financial crisis, or Global Economic Crisis (GEC), was the most severe worldwide economic crisis since the Great Depression. Predatory lending in the form of subprime mortgages targeting low-income homebuyers,[1] excessive risk-taking by global financial institutions,[2] a continuous buildup of toxic assets within banks, and the bursting of the United States housing bubble culminated in a "perfect sto…

Well done Iceland. I would like to see ratio of jailed bankers to total bankers in country. Because now it looks like GES was mostly caused by Icelandic bankers :)

I recently read a comment by an icelander saying that they're basically just the same as the rest of the world, incapable of punishing bankers and rich people. Just that on this occasion, the banking sector being so small, something like 90% of it failed, so they really had no choice but to jail some people.

Definitely hearsay, but it really saddened me.

Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#62

Post by dataflow »

> The messages that Lebed posted would predict marked increases in the stocks value [...] In response to Lebed’s messages, trading volume of these stocks would soar

I'm so confused reading the comments here. How in the world is anyone defending this?

Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#63

Post by hunter2_ »

fmajid wrote: post #47

> Depending on who you talk to, Lebed was either viewed as a person who knowingly abused the system and broke the law, or someone who acted no differently than Wall Street analysts acted Both of these statements can be true at the same time.

> Depending on who you talk to, Lebed was either viewed as a person who knowingly abused the system and broke the law, or someone ... actually performing no wrong-doing.

Funny how selectively quoting a bit differently makes that appear far less so.

Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#65

Post by pc86 »

gmd63 wrote: post #30
ghaff wrote: post #27

Earlier quoted context omitted.

My last crack should probably have had a /s. I don't actually believe that.

I didn't take you as believing it, just as framing what others might think. I've seen the sentiment too and it frustrates me.

Almost as frustrating as people who posit the penalty for lying/fraud/hucksterism should be death.

Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#66

Post by ghaff »

lucianbr wrote: post #61
vincnetas wrote: post #29

Earlier quoted context omitted.

Well done Iceland. I would like to see ratio of jailed bankers to total bankers in country. Because now it looks like GES was mostly caused by Icelandic bankers :)

I recently read a comment by an icelander saying that they're basically just the same as the rest of the world, incapable of punishing bankers and rich people. Just that on this occasion, the banking sector being so small, something like 90% of it failed, so they really had no choice but to jail some people. Definitely hearsay, but it really saddened me.

That sounds about right. It's a small homogeneous country and the situation really was dire. Much more so than in many other countries, including the US, in general. The US had some big failures but the system largely held together (with the help of the government of course).

Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#67

Post by Bud »

chatmasta wrote: post #55
Solvency wrote: post #28

Why is this page double line spaced? It's outrageous on mobile.

The page is from 2002, when "mobile" was pronounced "mob-eel" and the closest thing to a smartphone was an early version of the PalmPilot.

2002 was actually quite late in the Palm era. The iconic Palm V, for instance, dates back to 1999. And BlackBerry had a mature smartphone by 2002. Nothing compared to an iPhone of course, but quite capable.

Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#68

Post by [deleted] »

cmcaleer wrote: post #10
hilux wrote: post #4

Interesting. A little googling turns up that 25 years later, he's still in the pump-and-dump business! Do what you love, I guess.

I found this Twitter account last posted to in 2014. https://twitter.com/lebedbiz I checked a good few of the stocks he listed. I figured he would have struck a lucky score at one point but he seemed to have an uncanny ability to always pick losing stocks. I was hoping for a happy ending like how many of the people I played Runescape with who hosted dicing games, speculated and flipped in-game assets became successfu…

[deleted]

Re: What Happens When a Fifteen Year Old Pumps and Dumps with a Net Profit of $800k? (2002)

#69

Post by seadan83 »

gmd63 wrote: post #18
lebean wrote: post #14

Earlier quoted context omitted.

The difference is merely the essential part of meme stocks that make them meme stocks and not just a pump-and-dump scheme executed by some guy. Other than that, though, totally the same thing.

I'm betting that large players manipulate the market through "meme stocks" just like advertisers astroturf reddit.

I'm on a phone, apology for lack of citation. I ran across an article that found it was mostly memers bidding the price up against each other. The short squeeze aspect did come un, but not as often and not to the extent that is commonly claimed.
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