I have been under constant barrage of unsolicited phone calls recently. The phone calls typically begin with the same lie: "Mr. Shedlock you told a colleague of mine a few months ago to call you back when we have a really good investment opportunity".
Given that I never ask anyone to call back, they are known liars from the start. Depending on what kind of mood I am in, I may hang up immediately or listen long enough to hear what kind of nonsense they are peddling.
I asked one of the liars the name of his colleague that called. He answered George. I said "George who?".
The caller got exasperated and replied "Washington".
The predominant thing these guys are peddling is the opportunity to lose a lot of money fast, frequently in the oil or natural gas industry. But lately the charlatans have pestered me with real estate opportunities, shorting gold, and buying microcap stocks I have never heard of (most likely the classic pump-and-dump) variety.
This is the kind of thing that happens at market tops. Everyone wants in, and the fraudsters come out in force to take advantage.
Nonetheless, I offer my standard warning: Just because this activity happens at peaks, does not mean this is the peak.
Sentiment typically gets more extreme than anyone thinks possible.
Social Media Bubble
Facebook recently paid $19 billion for WhatsApp, a company with 55 employees and no revenue.
Supposedly this is a good deal because WhatsApp is growing fast. It is growing fast because it has a cute texting app that it gives away for free.
How many customers would it have if it starts charging? Enough for a $19 billion valuation? Not a chance.
Pater Tenebrarum has interesting discussion in his commentary "Social Media Bubble".
Flipping Yet Again
Meanwhile, this farcical ad popped up on my screen just today.
Want to know what "As seen on TV" means?"
Typically it is a sleazy phrase that means they ran an ad somewhere on TV, at least once.
Such ads usually run on an obscure channel at 3:00AM. But hey, it's "as seen on TV". They never said "in a show".
Please note the little asterisk that reads "results based on effort".
Also note a word is missing. Here is the split sentence combined "Learn How to Get Started Flipping Houses Than Merrill - Star of A&E's "Flip This House"
The ad makes no sense unless your mind inserts the word "Better" right after the word "Houses".
I have a simple question: didn't we try this before?
Mike "Mish" Shedlock
In Other News: North Korea Threatens to Hack US if We Don't Acknowledge Their Innocence in Hack Attacks | Michael Schaus
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for December 19th, 2014 | John Ransom
In Other News: New Captain America Will be Black; Racist Liberals Suddenly Become Fans | Michael Schaus
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for December 17th, 2014 | John Ransom