Monday 28 February 2011

Florian Homm charged by the SEC with portfolio pumping

Never mind. It happens to the best of them. This was last week. I've just found out about it. Two of Florian's friends, Todd Ficeto and Colin Heatherington, have also been charged. I'm sure it's all a big misunderstanding.

"Ficeto and Homm repeatedly abused their positions as securities industry professionals to commit a wide-ranging, cross-border fraudulent scheme," said Rosalind R. Tyson, Director of the SEC's Los Angeles Regional Office. "By manipulating U.S. stocks through a U.S. broker-dealer, they defrauded investors in offshore hedge funds and reaped millions of dollars from their illicit activities." Even more SEC wackiness.

I really should stop visiting the SEC and FSA websites. All they do is charge people all the time. Is there anything more depressing? To make matters worse, they quite often seek injunctive relief and disgorgement as well. It makes your blood run cold, doesn't it?

It's funny how these characters turn up in my life, disappear, and then come back again. Let's consider Florian Homm, seriously. 'Two portfolio managers, Frank Siebrecht and Stefan Heieck, are leaving Absolute Capital Management for personal reasons. This follows the departure of Florian Homm last month.' Those words appeared here in October 2007. [How time flies!] And now Florian is back in my consciousness, taking on a larger role. Strutting about the stage, he is. A very rich player. It must mean something. I hope it means something. I close my eyes for a second or two [hours?] to see him more clearly. Why in the name of Beelzebub is he wearing a cape and a top hat?! Why is he sporting a Salvador Dali moustache? I can't understand some of these people, if they are people, that is - I try to give them the benefit of the doubt. For Florian Homm to lark around like this, when he's in so much trouble, well ... it makes you wonder. He needs to shave off that moustache, get rid of that ridiculous hat, and buy himself a sober suit. A grey suit would suit him. A crisp white shirt. Not that black polo neck. Is he wearing red lipstick? Do my mystic eyes deceive me? What the hell is going on? I wish you could see this. On second thoughts, you're better off out of it. The life of a visionary ain't all it's cracked up to be. Well, it is. But you have to take the rough with the smooth. And this isn't smooth. This is rough. Those teeth! Sharpened with a file, by the look of things. Dear oh dear. Maybe the SEC knows what it's doing after all. I mean, they're the professionals. Who am I to question them? Oh, the arrogance! I'm a bloody disgrace!