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February 10, 2007 – Comments (2)

Today I want to come clean about something I feel very badly about. I cannot undo some of the things I have done, but hopefully this message will prevent other such occurrences in the future.

I am a paid basher.

Yes, it is true. Today is my last day at this company; I'm moving on to a new job. I've realized that there are more dignifying jobs out there that can pay me equally as well. But before I go, I want to explain a few things because this just isn't right and I won't feel good about myself until I expose this sham. It's hurt too many people and I don't want it on my conscience anymore. I can no longer live with a lie.

I work for a company called Rosteye, Rony in Malden, MA. Basically, it's a Boiler Room much like the one in the movie of the same name. The idea behind my group is to bash the price of a company's stock down low enough to where the group of investors who retained our company's services can buy the stock really cheap and perhaps even take it over all together.

There are approximately 55 people at the company divided into several groups. My group, consisting of 5 people, is responsible for OSTK. While I probably shouldn't give any names of anyone working here now, what the heck, I'm leaving here, so what can they do? sue me? Ha! I can tell you that homerbufflekill and howardroark were part of my group until he left last week, as was Eurotrash. Others who have been part of this include early bashers like byrnetup and noverstuck. You may be interested to know that some hypsters, such as murdockroad and even highfructose, have also been part of the scam (more on that later).

There are several companies engaged in the bashing business, ours is not the only one. However, I can tell you that not every basher in here is a paid basher. Having done this for a year, I can usually tell who is a paid basher and who is merely someone having a little fun. While unpaid bashers have a different motive than someone like me, they can be unwilling accomplices to helping me achieve my ultimate goal and they also spread rumor and confusion throughout a room, which also helps me.

What is that goal? Well, I am merely a cog in a much larger machine, so my bosses never really explained the big picture to me, but I'd say essentially, OLOC was right. There are several companies who are quite familiar with homey and valueguy88 and who are deathly afraid of them.

There are three types of bashers here at Rosteye Rony: Advanced, Intermediate and Beginner. An Advanced-level basher (also known as a Silver Tongued Devil) would spread false or misleading information about the company. They would deal in facts, countering every longs post with articles, news reports and opinion surveys that gave a negative impression about the company.

An Intermediate-level basher (also known as a Serpent) would try to weasel their way into the confidence of longs and create doubt using rumor or innuendo.

Finally, a Beginner-level basher (also known as a Pitchfork) would attempt to create confusion in the room by distracting other posters with satire, name calling and pointless arguments. The idea was to make sure no serious discussion of the stock could take place. A Pitchfork was usually a basher, but not always. Sometimes, we would throw in a hypster Pitchfork such as peterxyz and laptop and a pumper like Teachmesomething to create the illusion of an argument going on. What was really funny (in a perverse way, I guess) was that TMS and peterxyz sat next to each other, laughing the whole time.

I was a Serpent basher, because I am known for effective bashing based on solid facts and truth. I was paid a base wage of $18 an hour for my services. I was given a $1.25 bonus for every decent quality post over 100 per day as well as a monthly bonus of $100 for every fifty cents OSTK had dropped from the previous month. I was also paid a bonus for bashing on weekends. While this may not sound like much, I made a decent, though dishonorable, paycheck plus a nice Laptop with free wireless internet connection.

Each of us sat in a small half-cubicle in a cluster with our teammates. Each group (usually five people) was made of three beginners (two who would bash and one who would hype), one intermediate and one advanced level basher. Occasionally for some of the hotter stocks, one of the beginners would be replaced by an intermediate depending on how much the stock was rising. OSTK was a low-level stock, meaning it got the 3-1-1 configuration.

Honestly though, somehow, I get the feeling that UR may have worked for a basher company or knows someone who does because the fund websites he occasionally posts is eerily similar to our employer's websites. While not exact, I'd say it is about 90 percent the same. We do have certain rules that we follow.

First, we have to develop a character and stay within that character in order to build a "following." My character, "Hannibal2.0" was a humorous, sarcastic, obnoxious supporter of free speech and loved to portray himself as a truth-telling superhero, but only when it came to bashers. People will believe anything. I mean, who actually lives in the freeze of New Hampshire and owns short-haired miniature dachshunds?

Next, we had to follow certain guidelines on what we could say. We were urged to have an "answer" to every long's question, but we were to frame that answer in a way that ridiculed the questioner for asking such a question. However, we were never to use profanity or vulgarity because that would cause people to ignore us. We were to make fun of people, but in a civil way. The idea was to get "play," i.e. reaction from other posters. The more play we got, the more the room would be disrupted. (emphasis added) Ignored posters get no play. One exception would be the hypsters since they were "defending" the stock against our onslaught, they got a little more leeway. People would side with the hypster because they thought he was real since he appeared to be on their side, but was really on ours, setting us up to disrupt the room. TMS was quite good at this and gets paid very well.

I've worked on OSTK, MLP, RYN, BRK/A, WTM for a few months now. In addition to the eurotrash01 alias, I've used a few others on several other boards as well. I've used so many aliases that I can not remember the monikers or the passwords. I honestly lost track of everything. I stuck with eurotrash01 because it was the one that got the most play from other posters.

In closing, I feel absolutely terrible about this. It's just awful how I've been part of a scam designed to cheat honest, hard-working people out of their investments all for the

benefit of a few wealthy people who already have enough money to last a lifetime.

These greedy people MUST be stopped. That's why I'm posting this before I leave. I want to make up for some of the damage I've done. I can't live with this lie anymore. You can't imagine how hard it is to look at myself in the mirror each morning knowing my job is to cheat and lie.

I have to go now, I'm too broken up to continue. I hope this confession can make up for my sordid deeds; I would urge everyone who reads this to inform as many people as you can. Only by shining the light of truth can we drive these rats back into the darkness from whence they came. Believe me, they don't want publicity.

Good luck and I hope all of you the best in your investment endeavors.

2 Comments – Post Your Own

#1) On February 10, 2007 at 12:27 PM, TMFBent (99.26) wrote:

This is, of course, a classic hoax from the year 2000, designed to mock all those zealot shareholders who actually believe in such things as paid bashing on message boards.

Yet it STILL comes up. In fact, certain officers of certain public companies continue to claim that this goes on, despite the lack of any evidence to prove their claims.

Thanks to the Fool OSTK board for reminding me of this charade, the original pantsing of which appeared here: http://www.t...1165692.html

One born every minute...

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#2) On February 10, 2007 at 12:29 PM, TMFBent (99.26) wrote:

Oh, and by the way, you'll note that this entire broohahahaha came about regarding a complete dog of a company called Biofiltration Systems, one of the major pump and dump failures that punctuates the career of one Jasper Knabb -- the CEO of our familiar dog stock, Pegasus Wireless.

Remember this:http://www.s...iofiltration

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