Do we like Pacific Continental?

Judge Mental

Junior member
10 0
Had an email from these guys saying their analysts have identified some major price moves potential for BAE, Chorion, Colt and C&W - but they don't say which direction :rolleyes: If you then try to download their technical analysis you have to give them a telephone number so they can call you with a free "no obligation" dollop of financial advice.

So, what do you guys know or think about this mob please?

chris
 

options

Senior member
2,374 218
Oh, pleeeeeease.

If you have to ask you are ripe for the picking. Analysts 'identify' major price moves potential for 100's of stocks every day. That's what they get paid to do. They don't even have to be right, and often give a wide time frame to work in. (In the hope that they will get it right?)

bung a chart up, have a look. Look at funnymentals, when they are reporting etc any news? Then make your own mind up. At worst you have a 50/50 chance of being right. and it's cost you nothing but time. Do not rely on others. They may know less than you do.
 

Judge Mental

Junior member
10 0
I have to ask because I didn't know - is that a crime these days? perhaps it would have been more stupid NOT to ask?

I am starting out in this trading lark and am asking questions whenever I am unsure, so that I can gain the benefit of people who know.........sorry if you find that irritating!!
 

oatman

Senior member
2,879 22
He's being straight. We don't like anyone taking your do$h off you with cheap sales talk. There ain't no short cut. You've got to learn slowly slowly. And this board is full of all the right ways to do it.
Keep asking ;)
 

Judge Mental

Junior member
10 0
I know he's being straight...that I can appreciate....what I dislike is people taking cheap shots, which he did!!
 

options

Senior member
2,374 218
Thanks Oaty.

Judge:

It would have been more stupid not to ask. Defeats the object somewhat if you don't. But all these questions have been asked before. That's the irritating part. It's like a procession of new fodder coming through for the delight of the con men and head in the clouds purveyors of systems and tip sheets.

All the information is on here. You just have to look. That's why there are 'first steps' type of links to most subjects at the top of every major subject. Maybe they could be more prominent?

One thing you can be sure of is when you ask a question you will get an answer if someone can help you. It might appear terse, or might not be the answer you are looking for. This isn't really a site for milking ego's. And 'This trading lark'; as you put it will probably be the hardest, most frustrating thing you will ever do; at least to start with. Leave any attitude at the front door and carry a big bucket of 'humble' around with with you, while you follow your adopted chart, and do what it tells you to do. It is always right. You; are, on occasion.
Be prepared also when starting out to get more calls wrong than right. Most people can't hack that and give up; blaming everything but themselves.

It all starts here. By reading through some of these posts. No shortcuts, no easy money. But all the information you need for free.

I think that there have only been one (or two) people on these boards, (out of near 10,000 members) that have ever said they have made a profit by using the likes of Darren Winters/ VS and trading how they were shown. They haven't posted for quite a while now.

I don't think I have ever read on here of anyone following a tip sheet, or of following the advice of an analyst and making consistent or indeed any profit over a length of time. It would do them no harm to announce it on here if you think about it. It would actually help them. Because more people would sign up, and those trades would help push your trade along to wealth and fortune.

I may be wrong. So would anyone of the 10,000 care to stand up and be counted?

you might be thinking that you have stumbled across a little goldmine that will make you rich if you tap into the vein by subscription. You haven't. If something like that existed we would all be on it. And we would all get slaughtered by the major movers.
 
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Judge Mental

Junior member
10 0
Options - thankyou for your candour.

I am not so naive to think that there are people out there who have hit on a "system" that is so good they want to share it with everyone....but as I am new to it all I am still establishing the ground rules and a little toe in the water has set another one for me, for which I am grateful.

As regards first steps, I have tried reading it, the problem is when you don't know what you are looking for it overwhelms you, and trying to make sense of it all is so daunting that it is much less problematic to ask the question than try to find the answer..........for instance, I wish I could find a thread where all the jargon that gets used is set out with its own explanation, in plain and simple english.......at least that way I would have half a chance of starting to make sense of all the rest of the threads.

I do thank you for your answer, but please try to remember, we are not all as experienced as you, and not knowing is not an excuse for taking a swipe.........not knowing to ask IS!!

chris
 

options

Senior member
2,374 218
Judge;

Top of page.

Resources.

Glossary.

I appreciate your reply. It was not meant as a 'swipe' but a declaration of truth as I see it.

Sadly, and unfortunately, the written word as meant, is often misconstrued by another party. It is sometimes very difficult as you will appreciate to convey the strived for meaning. Sleights exist where none are intended. Where a normal inflection or tone of voice will normally convey intent; it lacks in the written word.

Once you know me better you will appreciate that I do not want to slate or dig at anyone, can't be bothered with that, and see no call for it. At times I am terse, other times more eloquent I hope. Sometimes even humorous. Most will depend on whether I am 'in the market' or not, as regards the replies I post.

Skim fielded a similar question to yours on another thread today. Only she answered it better than I did yours.

These markets are brutal and unforgiving. You will discover a lot about yourself as you travel. Probably the worst thing you could do is to be successful in your first few trades.
 

axthree

Active member
185 0
I have to agree 100% with Options. Winning with the first few trades nearly did for me.
I'm also a beginner and but a minnow, but I have had better results from my own struggles than I ever got by listening to the "snake oil salesmen".
Be prepared for some losses, take the unexpected profits gleefully but don't ever think you've got it cracked
 

chump

Senior member
2,212 274
Judge,
Post the terminology which is giving you trouble here. You will get answers.
Cheers
 

Judge Mental

Junior member
10 0
oh and options - points well made, understood and appreciated.......again, thankyou.........at the very least my natural suspicion of "Greeks bearing gifts" is reinforced

chris
 

TaliesinUK

Junior member
15 0
I don't !!

Pacific Contental have sold me 5 shares, all of which I have lost money on, I would think that a professional comapany could come up with 1 winner in 5 (by winner I mean at least break even)

Richard
 

andixx

Newbie
2 0
On the subject of Pacific continental (uk). This posting is to be found on www.boiler-rooms.co.uk

" I got stung badly with this company. They talked me into several Reg s shares in mid 2003- early 2004,(Accupol,Anscott,Lazerlock tech,Material tech,Power Efficiency,Med Gen,Great west gold,Practice expert,Satellite tech), initially they did very well as they were 'pumped' up,but inevitably before the year was out and the shares were saleable,they ALL slumped in the region of 90%+,some had been up 200%,then went on to lose ALL of their value (99%).Total pump and dump scam, sfa regulations do not appear to offer any protection from these 'analysts' whose only difference to a boiler room is (so far) is about 8% away from 100% losses. We get told to use only regulated firms but when it comes down to it ,what is the difference in the end result? virtually none. Pacific con appear to be a 'legal' boiler room,they use the same techniques,(very hard sell),they achieve the same results, catastrophic losses.
Reg s are appalling investments, add a dodgy broker and you are a 90%+ loss victim.
When Pacific Continental phone you,do the only sensible thing and hang up. You will probably out perform their 'superb stock selection' by huge factor using the 'random dart-throwing theory' into the stock page of the FT. At least with a randomly picked loser you can sell out and retrieve some of your money. Reg s in conjunction with Pacific con lets you sell only after your holding is worthless,a complete and utter con. It is truly tragic that they are allowed to continue to promote reg s stocks year after year when all they appear to achieve for their clients are huge/total losses. All this is in my humble,honest opinion (and bitter experience)

Anyone know of any other stocks they have pumped in the past?
 

andixx

Newbie
2 0
Broker's £100,000 buys silence
Financial Mail (Mail on Sunday) 19 June 2005

G. D. writes: I am sending you a valuation of shares that I let Pacific Continental Securities UK Ltd talk me into buying. I have had three further calls from them, trying to 'turn my portfolio into positive territory'. Needless to say, once bitten, twice shy. I am retired and cannot replace the lost capital.


Tony H: YOU put £1,500 into shares in Accesspoint Corp, £2,000 into Cryocon Inc, and £2,500 into Pop N Go Inc, making a total of £6,000. The valuation you sent me shows the three holdings standing at about £290 - in total.

Pacific Continental also sold you shares for £2,500 in Medical Sciences Technology Corp (MSTC). A former employee of the brokers told you later that MSTC had not been formed and you should demand your money back.

Well, you got back your money, but with no explanation. I found it impossible to believe that Pacific Continental - an authorised London broking firm licensed by the Financial Services Authority - could have sold shares in a company that did not exist.

I invited the broker's managing director, Stephen Griggs, to comment, but he refused. However, inquiries in the US show that MSTC was set up, though it is not clear if its shares ever traded. And my digging led to an old acquaintance. MSTC's boss is Guernsey-born Colin Tongs, and in the Eighties he and I would often chat about his company Transworld Network, whose shares were suspended by the US Securities & Exchange Commission after they were promoted to British investors by a high-pressure telemarketing boiler room run by Tommy Quinn, a disbarred Brooklyn lawyer, jailbird and one-time Mafia associate.

All of which makes me even happier that Pacific Continental did the decent thing and returned your £2,500. As for your three near-total losses, Griggs's lawyers tell me he is completely satisfied that it was appropriate to recommend the high-risk shares and that you were told repeatedly that this was exactly what was on offer.

The FSA is investigating these deals, along with other sales by Pacific Continental. An FSA official confirmed: 'We are looking at issues arising from complaints.' For the moment though, Pacific Continental, which has its HQ in Cannon Street in the City, has stopped selling the sort of shares you bought. They are all obscure, high-risk US stocks covered by an American rule called Regulation S, which means they cannot be sold to Americans.

Foreign investors are fair game though, and Pacific Continental has been paid handsomely by the companies whose shares it has recommended, on top of normal commission from clients.

A statement issued by the broker's lawyers a few days ago said: 'Our client is not at this moment selling Regulation S stocks. However, it is satisfied with the Regulation S stocks it has sold in the past and is potentially planning more.'

Several months ago, Financial Mail warned against investing in shares in Atlantic Wine Agencies, which were being marketed heavily by Pacific Continental. Atlantic Wine was described by a Pacific Continental salesman as a solid business whose shares were undervalued. He claimed the price was set to double or treble.

What the broker did not reveal to investors was that Atlantic Wine admitted in publicly available company documents that it had no money and might collapse before earning any. Nor did the broker tell investors that a leading figure in the wine firm was Benjamin Mauerberger, a South African who had just fled New Zealand to avoid an investigation into a share swindle.

Since then, Atlantic Wine has hit major problems. Chief financial officer Harry Chauhan has resigned and one of its two vineyards has collapsed into administration. Vineyard boss Carl Voss has quit the board after levelling unspecified charges against the company. Atlantic Wine will only say: 'The company strenuously disputes each and every allegation of Mr Voss.'

As Financial Mail revealed, shares in Atlantic Wine were also heavily promoted by illegal offshore boiler rooms based in Amsterdam, Zurich and Madrid. Pacific Continental has complained to the Press Complaints Commission that we were wrong to mention it in the same article as the boiler rooms we named. Perhaps the answer would have been for the brokers not to sell those shares in the first place. It was the only British broker to do so.

You, Mr D, are not Pacific Continental's only unhappy customer. The case of Mr H is particularly interesting. Late last year, he contacted Financial Mail to say he had been phoned by Pacific Continental offering 'too-good-to-miss' deals. Over 12 months he invested his life savings of £153,000 in a basket of American shares tipped by the broker. One investment alone, in a California company called EUPA, would grow from £50,000 to £250,000 within a year, Mr H was told. In fact, he lost virtually all his savings.

As he had retired, any capital lost could not be replaced, but when share prices fell, Pacific Continental reassured him the markets would soon recover.

With Mr H's written authority, Financial Mail invited Pacific Continental to comment. Instead, it approached Mr H privately. He now says he cannot talk about the shares. In fact, Pacific Continental has paid Mr H £100,000 on condition he refuses to talk to Financial Mail.

When Financial Mail invited Pacific Continental's lawyers to comment, they replied: 'Our client did resolve a complaint, but both the existence of the settlement and the amount of the settlement is confidential. The resolution of a complaint does not mean or infer that it has been accepted.'

The lawyers demanded: 'Confirm your sources as you are in possession of confidential information.' Financial Mail has declined to do so. The complaint by Mr H and the £100,000 pay-off are being investigated by the FSA.
 
 
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