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Bulletin Board Morons, the sentiment of grief and Gulf Keystone

Tom Winnifrith
Saturday 22 March 2014

I gather that I am not wildly popular with certain Bulletin Board Morons for my pieces yesterday on Gulf Keystone (GKP). Arguing that the shares could be worth 0p in some circumstances (HERE) or pointing out that its Bonds were now in Junk Bond territory (HERE) was always going to attract some ire. However, the tone of the comments is most instructive. We are in phase 1 of grief.

It is not as if this is the first time I have questioned the valuation of this stock. This site ran a series of articles last May by myself and others suggesting that the shares were overvalued. At that time the comment on the Boards was universally hostile. Todd Kozel (the grotesquely overpaid CEO who dumped all his stock last year) could do no wrong. I and the other critics were just crooks on the make or imbeciles or both. Gulf was THE darling of the Bulletin Boards and anyone criticising this company faced universal slating.

Like I care. It is nice to be vindicated but one receives no thanks for pointing out when a grotesquely overpromoted stock is a slam dunk sell.

But as is always the case,

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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