Tribute to Tobin Smith: Hard Mailer Performance

Ian Cassel Blog, Pump and Dump Leave a Comment

Tobin Smith, who has been widely known in the microcap space as a pump and dump artist, finally lost his job on FOX Business due to his antics. In the last two months alone I received two hard mailer pump and dumps that Tobin Smith was associated with, Brazil Minerals (BMIX) and Petrosonic Energy (PSON).  You can view pictures of these below.

A hard mailer is nothing more then a pump and dump. The company themselves, affiliates, or large shareholders pay millions of dollars to mail out glossy 20 page reports trying to dupe investors to buy the underlying stock so they can sell their positions. Just like Gravity, when a hard mailer pushes a stock up, they always crash back down to Earth.

A year ago I started keeping track of the stock performance on all the hard mailers I receive here at my home. Every couple of months I give an update, which you can find here: [Part 1] [Part 2] [Part 3] [Part 4].

I make my living exclusively from investing in microcaps, so it is unfortunate the only time microcaps make the major news outlets is for negative reasons. But that is also the opportunity. It is true that many microcaps do unsavory things (like hard mailers) with unsavory characters (like Tobin Smith), but there are also many “real” undervalued microcaps with great businesses that conduct themselves with integrity.

Below are the last two hard mailers from Tobin Smith and the compensation disclosures:

Here is the updated Hard Mailer Performance Matrix:


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About the MicroCap Superstar Author

Ian Cassel

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Ian has been investing in microcaps for 15 years and has been a full time microcap investor since 2008. Ian looks to invest in great management teams running great businesses with a moat. He tries to invest in the best 5-6-7 companies he can find at all times. Ian founded MicroCapClub in 2011 to be a place for “real” and experienced investors in the microcap space to share ideas and learn from one another. When Ian isn’t researching stocks or administering MicroCapClub, you can find him reading, golfing, or shopping at Costco with his wife.

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