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Chris Becker of Macrobusiness adds deception to his potentially illegal share spruiking activites; Digging a bigger hole by re-writing history
Topic Started: 7 May 2012, 12:34 PM (4,932 Views)
Strindberg
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Chris Becker has obviously been reading the exposures here of his potentially criminal share spruiking of JBH and is trying to concoct a defence by claiming his and his co Director's past utterances to be different to what they were.

http://www.macrobusiness.com.au/2012/05/getting-a-share-pick-wrong-doesnt-mean-losing/

Chris is now trying to distance himself from Empire Investment, the company in whose name he uttered his JBH spruiks.

He ignores ALL contributions to the JHB spruik made by his then fellow Director of Empire Investing - Q Continuum. He now claims that he sold his Empire stake in mid_December.
Quote:
 
Back when I was co-owner of Empire Investing (I sold my stake in mid-December 2011),

Yet Chris declared he was still with Empire on the 16th December here when he wrote:
Quote:
 
In addition to my personal short disclosure, our investment company (Empire)sold down almost all of our position awhile back.

Strange that he never previously mentioned either his leaving Empire or Empire selling JBH, a stock they had repeatedly spruiked.
So Chris is saying on 16 December Empire sold all their stock "awhile back". Not according to his co Director, Q Continuum, who on 3rd January 2012 posted this:
Quote:
 
Disclosure: The author is a Director of a private investment company (Empire Investing Pty Ltd) and currently has interests in the businesses mentioned in this article.

Either Chris or Q Continuum is lying.

Chris also now tries to suggest that he was speaking of JBH as a speculative part of an investment portfolio. In today's article, in a picture, he distinguishes between "investment assets" and "speculative assets" clearly inferring that JBH were in the latter class. Why then on 9th August 2011 did Chris himself declare, as a Director of Empire Investment, that JBH are "investment grade" here:
Quote:
 
Empire Investing considers JBH investment grade as has re-valued the company to $18.18 a share

So, having previously claimed the shares to be investment grade he now tells us they were always speculative. Devious shit making.

In one of his charts (which ignore all the spruiks) he now claims that he gave a warning on 16th December on JBH. This was uselessly AFTER the share price crash and it was no warning at all. Here's the post he made. Where is the warning? There is none.

Having spruiked JBH repeatedly and now claiming he lost almost nothing, where were the follow up warnings? There were none.

Here's some of the spruiks posted by Chris and his co Director:

Quote:
 
Time to buy JB Hi-Fi
Is JBH good value now? In my opinion, yes.
Which means right now, it’s bargain time on JBH shares.
Empire Investing considers JBH investment grade as has re-valued the company to $18.18 a share
it is probably a bargain stock at the moment

The latter spruik was made on 3rd January on macrobusiness.

Chis Becker is digging a deeper hole.


Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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jester77
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Well if you are silly enough to buy an over valued property, you might as well go the whole hog and buy shares in Australian retail.
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Enrico Palazzo
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Personally I don't look at MB often and have no idea about what they where saying re JBH, hence no opinion

BUT SURELY, the real estate industry should be subject to the same, if not more rigourous standards given everyone has to live in a house, while it is your own choice to buy a stock...
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Sydneyite
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Rather than just stupidity / incompetence (which is what I thought this all looked like after reading Stringy's earlier posts on this topic), it now starts to look like more of an orchestrated "pump and dump" exercise, with the poor MB readers as the target "suckers".
Edited by Sydneyite, 7 May 2012, 02:21 PM.
For Aussie property bears, "denial", is not just a long river in North Africa.....
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NotFooled
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The Bear Whisperer

Enrico Palazzo
7 May 2012, 12:45 PM
BUT SURELY, the real estate industry should be subject to the same, if not more rigourous standards given everyone has to live in a house, while it is your own choice to buy a stock...
Certainly. But who will pay the regulatory and enforcement costs? It could lead to a significant government charge added to the cost of every sale.
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Shadow
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Evil Mouzealot Specufestor

Sydneyite
7 May 2012, 12:49 PM
Rather than just stupidity / incompetence (which is what I thought this all looked like after reading Stingy's earlier posts on this topic), it now starts to look like more of an orchestrated "pump and dump" exercise, with the poor MB readers as the target "suckers".
Yes, and it's no wonder they block all links to APF, and in fact don't allow MB posters to even mention the words 'Australian Property Forum', because they don't want their readers to know the truth, exposed here, of their blatant hypocrisy, their misinformation, and their general all-round bad advice.

Their blatant hypocrisy is mind-blowing. They constantly rail against 'spruikers' and 'vested interests' supposedly trying to pump up the housing market, while at the same time they themselves are trying to pump up the value of shares that they own, shares that they have a vested interest in seeing the price move higher.

I really feel sorry for any of their readers who did follow their dreadful advice to buy shares in JB Hi-Fi and Cochlear (the other infamous MB share spruik).

I feel even sorrier for any of their readers who are currently following MB's advice on house prices.

Chris Becker, hang your head in shame.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Sherlock
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Strindberg
7 May 2012, 12:34 PM
In one of his charts (which ignore all the spruiks) he now claims that he gave a warning on 16th December on JBH. This was uselessly AFTER the share price crash and it was no warning at all. Here's the post he made. Where is the warning? There is none.
Some warning -- Beckers blog begins with "JB Hi-Fi (Code: JBH), arguably the best retailer in the country.........."

Thats more like an endorsement??
Edited by Sherlock, 7 May 2012, 01:33 PM.
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Shadow
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Evil Mouzealot Specufestor

I hope Chris Becker can clarify to his readers whether JB Hi-Fi was ...

INVESTMENT GRADE? http://i187.photobucket.com/albums/x308/LPShadow/JBHInvestmentGrade.jpg

OR SPECULATIVE? http://i187.photobucket.com/albums/x308/LPShadow/JBHSpeculate.jpg
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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Strindberg
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Sydneyite
7 May 2012, 12:49 PM
Rather than just stupidity / incompetence (which is what I thought this all looked like after reading Stingy's earlier posts on this topic), it now starts to look like more of an orchestrated "pump and dump" exercise, with the poor MB readers as the target "suckers".
It does look like that. The sequence appears to have been:

17 June 2011- spruik by Empire Investing "Empire considers JBH a “Wonderful” company."

21 June 2011- spruik by Empire Investing "JB Hi-Fi Ltd (Wonderful)"

15 July 2011 - spruik by Empire Investing "Time to buy JB Hi-Fi,......it’s bargain time on JBH shares."

9 August 2011 - spruik by Empire Investing "Empire Investing considers JBH investment grade"

16 Dec 2011 - JBH shares crash

16 Dec 2011 - Empire reveal for the first time that they earlier sold their JBH shares "awhile back".

..then...

3 Jan 2012 - Empire spruik - "it is probably a bargain stock at the moment – both for retail investors and potential corporate suitors."

followed by more price falls ($9.36 at the moment).

...then....

7 May 2012 - pathetic excuses and re-writing history.
Housing costs to Income broadly unchanged since 1994 - re-ratified here
The People of Australia have the highest median wealth in the World
2002-2012 10 year house price growth the SLOWEST since 1952-1962
"There are two kinds of people in this world: ones that fiddle around wondering whether a thing's right or wrong and guys like us." (Hugo to Gagin in Ride the Pink Horse)
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Pure_Red_Rage_Man
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Shadow
7 May 2012, 01:09 PM
Yes, and it's no wonder they block all links to APF, and in fact don't allow MB posters to even mention the words 'Australian Property Forum', because they don't want their readers to know the truth, exposed here, of their blatant hypocrisy, their misinformation, and their general all-round bad advice.
Yeah yeah....THATS the reason they block all links to APF!

You property pushing leppers are so disgusting to look at , I cant resist it!! So Vulgar I cannot avert my eyes!

tell me more about the crimes of a website that doesnt allow you into the discussion, discussion you dont like to hear and would fall over yourselves to disrupt. You chaps need a buttplug.

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