50 Cents of Random Comments and Roundup Links

Random Doodle #2

Rapper 50 Cent was in the news this week, with his tweet-happy penny stock antics.  Squirrelers and Roger the Amateur Financier both comment at length on Curtis (Fiddy) Jackson’s semi-fraudulently pumping up the stock of an obscure penny stock company sucking at specializing in wholesale distribution of ladies handbags.

50 Cent owns some 13 percent of this company, H&H Imports Inc (HNHI). By tweeting this hot stock tip to his millions of followers, he was able to see his “investment” of 7-plus million shares go up in an interplanetary trajectory, then crash back down.  Not that he could have sold them for a profit, without really getting into some hot water with the SEC  (that may yet com to pass, they might get all Martha Stewart on his ass – hey, I’m rapping).

The interesting side story for me was on the other majority owner of H&H, a one Kevin Harrington.   I found his name on Reuter’s company capsule on H&H, which led me in turn to an ABC reality show “Shark Tank”, of which I’d never heard of before.  Here’s his bio, from the show’s website:

Kevin Harrington

Main Industry: Infomercials. (Started the industry 25 years ago.)

First Huge Success: His first company reached $500 million in annual sales.

Zodiac Sign: Libra

Did You Know? He founded his own mutual fund company  (Editors note: WTF?!)

Now take a good look at Harrington’s photograph.

The show’s casting staff sure know their business. This guy has a smile that hides 8 more rows of teeth.  Would you buy a used mutual fund from this man?

Infomercials.  Dubious Penny Stocks.  Mutual Funds.  Sharks.

My takeway from this story.  Like a lot of successful artists, Fifty Cent is dumber’n a box of rocks, financially speaking.  He got sold a ton of near-worthless stock, and then someone might have whispered in his ear  how he could generate some buzz for it.

Some predictions:

Fast forward a few months, and this Harrington guy is going to vacuum out Fiddy’s accounts out with an industrial-strength shop vac (if he hasn’t already), and use the funds to get into The Big Show, peddling securities on Wall Street to state pension funds. With teeth like that, how could he not?

I predict the SEC will have been warned several times about Harrington, like they were with Bernie Madoff, but will ignore it, too busy prosecuting and making an example of 50 Cent for his pump-and-dump.

I predict that Harrington’s mutual fund company will eventually grow to 2 Big 2 Fail size, and be rescued with taxpayer funds by Harrington’s friends and associates in the Federal Government.  2B2F… sounds like a rap act.

As for Fiddy himself, with his financial acumen I predict that in a few years he’ll be worth, well… about fifty cents.

Moving on to linkage to inspiring, energizing, informative and all-around captivating articles around the PF blog-o-sphere:

Retirement and Taxes

Biz of Life posts some visuals about the price rise of commodities and just how little people are saving for their retirement.  I’d venture to say that most readers of Biz’s blog are making alternate plans, not counting on Social Security being solvent when they retire.

Kris @ Everyday Tips and Thoughts is Planning for the Next Phase of Life.

First Generation American has a good article on retirement.  “The Social Part of Retirement Planning”.  While you’re there, read Sandy’s articles on cars and toxic chemicals.

Jennifer @ Live Richly brings us some life lessons from Ruby, who has lived well for 94 years

Money Reasons started out this year with some difficult events.

Watson’s Inc asks some taxing questions on “The Politics of Envy”, and commenters duly respond.

Money and Investing

The Passive Income Earner has another good analysis of a dividend stock, Toronto Dominion Bank.

If you’re thinking about investing in rental property, a few cautionary notes from Sandy @ Yes, I Am Cheap, who is dealing with a TFH (Tenant from Hell)

Mich @ Beating the Index has a great list of best and worst performing Canadian Oil and Gas companies.

Challenging conventional wisdom:   Len Penzo on “10 Old Wives’ Tales Masquerading as Financial Rules of Thumb”

Money Cone goes with Vanguard:  “Opening an Account at Vanguard – A Walkthrough”

My Own Advisor invests some time in reviewing an investment book:  The Single Best Investment

The Lost Goat has some not-so-great experiences with BofA and Scottrade.

Humor

A pretty funny mouse story from 20 Year Challenge.    “I Refuse To Call This Post:  A Sticky Situation”

If you’re traveling in China, be advised that teenaged shopkeepers may be way more experienced than you at negotiating, and may/will end up with more of your mony than you planned.  Beaker recounts at Aloysa’s blog:  “Beaker’s world: How to Get Robbed in China”

Everything Else

Squirrelers gets free meals and free money on his birthday.  “Squirreling Gone Wild #20: Icing on the Birthday Cake”. How do you get free money?  Keep your eyes peeled.

Invest it Wisely and significant other have moved into their new condo.  Check out the lists of hits and misses.  “Our First Home Together”

Suba @ Wealth Informatics goes into the mechanics and strategies of charitable giving, and then segues into a typical informatics plan to save up for a house down payment.

Darwin’s Money has some great data on where the job growth is.  “Jobs with LOW Unemployment – the Data is in”.

Broke Professionals post some useful information on life without cable TV.

Sustainable Personal Finance list of 365 sustainable tips is on number 22: Buying a great jacket

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That’s all in the roundup this week.  As always, thank you for visiting, reading and commenting.

Tags: Penny Mining Stocks