Posted on 04/08/2006 9:09:00 PM PDT by SmithL
Malibu -- The rich love their toys, and nowhere are such status symbols more plentiful or spectacular than in sun-kissed Malibu, where exotic sports cars are as common as double-decaf, low-fat lattes. So when a million-dollar Ferrari Enzo was wrecked here in February after a 160 mph joyride, it seemed little more than a celebrity smashup.
And then the aliens turned up.
Well, actually there were no aliens, at least not the little green kind. But there is a distinctly odd cast of characters from Sweden and elsewhere and a tale that has only grown more dense and bizarre as information has surfaced about one of the men in the Ferrari, Stefan Eriksson, and his circle of friends.
Long before the mysterious wreck, Eriksson and his group managed to pull off one of the more amazing disappearing acts in the history of the computer gaming business. Last year, they drove their company, Gizmondo, into the ground, racking up losses of nearly $400 million. The crash case appears to be, much like the Gizmondo debacle, a series of enigmas.
Just to set the scene, here are some of the story's curlicues: Eriksson, 44, was or was not behind the wheel of the Ferrari the morning it crashed, does or does not actually own the wrecked Enzo, is or is not connected to a loaded gun clip found the morning of the crash, and may or may not be an anti-terrorism leader with a shadowy police force.
"I mean, when we got the first call, it was just a crash," said Sgt. Philip Brooks, a spokesman for the Malibu station of the Los Angeles County Sheriff's Department. "No one is injured, no big deal. And then it just got weirder and weirder. The deputies just kind of got sucked into this."
(Excerpt) Read more at sfgate.com ...
OK, so he's really Jack Bauer.
You called?
This hack was unduly impressed with it last year, which is why I've learned to take these hype-soaked CES reviews with a huge grain of salt.
Gizmondo specs:
* 400Mhz ARM9 processor
* 64 bit Graphics accelerator
* 2.8" TFT color screen (240 x 320 pixels)
* GSM tri-band (900/1800/1900)
* GPRS Class 10Gametrac- not just an awesome device, but sexy too!
* Eight-way D-Pad
* Left and right triggers
* Four face buttons
* Bluetooth class 2 for multiplayer gaming
* MMC/SD Card input
* Integrated digital camera (why?)
* SpeakerM
* Temperature range 0C to 55C
* 3D Games engine (but only 3 games)
* Predictive text input
* WAP 2.0
* SMS
* MMS receive and send
* MP3 playback
* MIDI/WAV formats
* MPEG 4 video playback
* SD flash card reader
* Mini-USB client
* GPS tracking application (why?)
* GPS mapping application (why?)
* Removable SIM card
* Removable battery
* Polyphonic ring tones
* Stereo headset socket for MP3 and games
* Windows Media Player 9
* Flight mode
Who was buying their stock, and why?
TGTL.PK is its ticker now in bankruptcy...This stock was trading above $21 per share in the last year. Unreal.
They sold, gross, $450,000 worth of their gizmondo gadget...but they sold millions in stock.
Their first SEC filing was on, you guessed it, April Fools Day last year.
They claimed a deal with Microsoft: http://www.newratings.com/analyst_news/article_506370.html
All that said, the most steadily profitable tactic I've been engaged in recently is the buying of long-date straddles on ''hot'' shares. CME, GOOG, you pick it -- doesn't matter whether they rise or fall, the mktmakers in options simply do not price these richly enough. Buying GOOG straddles has been just falloutofbed profitable over the past 17 months both to the upside and the downside. As Mr. Casey Stengel once noted, ''you could look it up''.
I'm purchasing CME ATM straddles, probably for Sep, Monday, without any doubt. Tried to get in late Friday, but was probably a bit too cute (my fault). I'll pick up a few Monday, though -- bet your wife and your life on it.
Next time you see some BS stock hyped up to the clouds, DO NOT try to guess whether it'll go higher or collapse. Simply buy the longest date ATM straddle you can afford ... and visit the cashier a bit later on, either way.
Friendly side hint. NYMEX is going public later this year, perhaps in September. Just stay on the news as to the precise date, then -- don't get cute, just bid 1/2 above the ask -- at 10:30 am Eastern time on the day it does go public. Whether you flip it for a quickie or sit on it for the trip, you (hell, anyone) will do nicely. I'll be rolling my ISE and BOT profits into this one, w/o any doubt.
Best to you, m'friend, and good trading always!
That should buff right out.
Yea, but what about the car? :-)
Your CME straddle is an excellent play.
Swedish businessman pleads not guilty in LA ~ Crashed Ferrari ~ bail set at $5.5 million
Says an Alien did it!
How about the guy:
Swedish businessman pleads not guilty in LA ~ Crashed Ferrari ~ bail set at $5.5 million
Says an Alien did it!
Reference bump for later when I'm awake ... ;-)
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