Here we go again. SeekingAlpha is the #1 website in America for jaded opinions, disseminated by short sellers trying to manipulate stocks lower. Yahoo lists SeekingAlpha as one of their select financial “news” sites, custom tailored for the ignorant fuckers who roam their message boards.
After the bell, a gentleman who goes by the name Kofi Bofah published a ridiculously biased hit piece on SeekingAlpha, which was aggregated into Yahoo finance’s “news” feed, where millions traffic daily.
Being the internet anchor man that he is, Kofi starts off his “news” piece objectively, declaring:
“Similar to pets.com, Yelp (YELP) is a dog of a stock. Certainly, Web 2.0 and pets.com reincarnated supporters will bark, wail, yelp, beg, scratch, and claw for this stock to remain relevant, right before things hit the fan, shares collapse, and Yelp positions go out with a whimper. Yet again, we are forced to deconstruct the economic merit of another novel Internet idea that went public and cashed out for $1 billion at the top. Accommodative Federal Reserve Board policies, alongside unrealistic business expectations, serve as catalysts to lead us on this death march toward zero.”
Need I say more?
In his article he discusses Yelp’s business model as if he had an idea of what he spoke about, with regards to internet properties. He is viewing Yelp through a flawed prism, one that looks at Yelp the same way as PG or GM. This isn’t Pets.com or some niche brand trying to get liquid on unassuming investors. This is a fucking brand that transcends the love for filthy animals and gives freedom to those who wish to critique bullshit restaurants whenever they deem fit. Gone are the days when Zagat had their homosexual grips on the minds of foodies.
Yelp is here to stay and the stock price, eventually, is going to trade much, much higher.
Having said that, the company is young and they haven’t figured out a way to profit from their viral internet presence. Understand something, YELP is a verb. It is one of the most downloaded apps and visited websites in the country. The move to smartphones and social networking is in its nascency. To say this company is heading towards an eventual march to zero is slanderous and worth calling this fucker out for it.
Back to Kofi. He discloses that he’s an investment advisor at a firm named Onyx Investments. So he manages money for clients and writes these hit pieces, yet discloses zero position in the stocks that he mentions. Odd, isn’t it? What the fuck is Kofi up to anyway?
Let’s have a looksy at Kofi’s track record.
Hit piece on AAPL
Hit piece on BBY
Hit piece on GRPN
Hit piece on Facebook
Hit piece on The United States of America
I could go on and on. He has always been bearish, dating back to the market lows of 2009. He was a bearshitter then and a bearshitter now. This fucker was declaring GOOG all but dead in 2009 and how WalMart’s profits equated to the death of America. Truly, this is a sick man and I find it to be reprehensible that SeekingAlpha has the platform and reach that is provided for them by the hacks over at Yahoo finance. Yahoo should drop these clowns yesterday and go back to listing news under the fucking news section and not some opinionated jackass with an ax to grind and a piker book to run into the ground, at the expense of an already jaded crowd of burlap wearing bearshitters at Yahoo’s disgusting message boards.
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I tried and tried to have these opinion pieces removed from the News headlines while I ran the Yahoo! Finance product. I wanted them moved and placed at best under Blogs, but it was an editorial decision that I could not win. Sorry I did not do better at the time. I agree with your post, this time 🙂
truth
So who is the person responsible? Beth?
Dude brings up “accommodative federal reserve policies…” What the hell does that have to do with the price of gas? Why would that particularly impact YELP?
And he never mentions the 75 million new users yelp has via IPhone Siri
Yelp for Android (50+% of smartphone market share) has been downloaded less than 10mil times. Yelp is great if you’re in one of their three markets- SF, LA, and NYC- otherwise pretty slim content.
I travel everywhere and that’s just not true. Yelp is popular in every major city and most small ones too.
Just the other day I heard a Yelp poster say “I do not like green eggs and ham, I do not like them Sam I am”
yelp is pretty good in any major city…by far the best resource, if not always as good as it is in the big 3 or 4.
What? Come again, sir? Yelp reviews reign supreme out here in Boston (a city that, according to you, doesn’t effectively leverage the free service). Personally, I don’t download apps like Yelp; never saw the point in using a watered down version of a website that I can access from the same device. Hell, even in dive metro areas (read: Cleveland) yelp is pretty damn popular.
Signed,
-Guy who used Yelp tonight to find a new place to try in the North End.
Works well in South Florida…I use it often.
It works great in Boston. Works great in all of New England, in fact, except northern most points of VT where there’s no cell towers (hence no tech users).
YELP is cannibalizing the user-base of “Around Me,” formerly a top download. The genius is the croudsourced ratings you get, which distill the comments down to something simple for my simple mind.
Fly……my 1st comment here, GREAT post, way to go a stripping this “analyst” down to his nubs!
How many users did AOL have?
The only people that care about seeking alpha are those who can’t do research on their own. This guy’s a hack that will hopefully short YELP and be yelping his account to $0.
How bout that move in NG today?
Gmxr will run with natty
Agreud!
Boutique financial services…WTF is that code for? Oh, i know…I have a corner closet in a foreclosed strip mall. I get it. What really sets me off though, is that I absolutely hate the word ’boutique’, with the fury of a thousand JDAMs.
Amen
It was a horrible piece and the guy is a joke. Good going calling them out.
my frequency of yelp usage correlates 100% with the fed funds rate and/or LIBOR
YELP has their SEO shit together too. I’ve never gone to yelp.com to begin a journey, but have ended up there many times from just searching for places to go and finding yelp reveiws at the top of many searches.
its an easy game if you are monopolizing local business names.
Point is lots of eyes will land on yelp even if they arent trying to
Bofah and his Onyx company are testimony to the naivté of the modern trader wannabe. B imagines his black comments to be linked with his Onyx company name and reveals his skills with the childish prose in his resume, “I found employment ……..” What is that merde? Can’t just say, “Hooked up with……. or, started my career at……..”? Asshat phony.
As if employment was ever “lost”
Have you checked out the web page? Wow…talk about no rent….
I will defend SA on one front – there’s an excellent group of dividend oriented investors there – yes, many suck, but people like David Fish and +5 and David Coretti and Div 4 Life are excellent posters
yea site is pretty hideous too. no pride
Anyone who tells u where they went to school before stating an opinion is a shill. Unless its harvard…but a state school like unc? Why not just open with “i smoked a ton of weed in high school….”
I agree with your first statement. He obvious has no resume and no business sense (as obvious through his website). Though I would have to disagree about the UNC thing. Saying all the state schools are the same is ridiculous. It’s like saying all phone companies are the same (we all know RIMM is not APPLE). =)
I am a new trader just starting to try to build my coin but I did come accross this article and even being new I could see a hit piece with no real facts and gave the article what it deserved a quick read realized it was shit discarded its trash from my memory to think of it no more…. Well until just now when the fly brought it up.
Also, nice call on $AAPL Mr. Onyxgenius.. Could you have been more wrong about $AAPL? Next, I expect you to report that Dewey beat Truman. Was there anything in the $AAPL or $YELP “analysis” that wasn’t just Speculation? Anything? The Cupertino brain trust doesn’t divulge much to big name analysts and yet the interwebs are full of small fry idiot business/finance majors pulling gerbils out of their asses.
Last year there was an article that showed small fry posters had much higher accuracy when it comes to predicting $AAPL’s earnings.
Glad someone pointed a verbal flashlight on these no talent ass-clowns (no Michael Bolton).
not to be that asshole, but why would anyone take advice from someone who worked as a financial adviser at AMEX. Maybe Im being harsh, and Amex is a fine company — a few of my friends work there — but I had no idea Amex even had financial advisers.
but maybe im just attacking him bc im too lazy to do any real research. just like he was when he put in the piece about the fed. wtf?
all one would have to do is look at $AAPL and their iPhone numbers to see the potential in $YELP…
most important thing is that i made 3% today across my portfolio, leaving me down 5% on the year…won’t take much to push me back into the black.
Lucky for me, I only read iBC for fun, trade the PPT for real and pay no attention to other useless financial blogs or message boards. I’m a dirty hybrid trader and I’m proud of it!
I don’t know what he’s doing, but he’s certainly running one of the worst websites I’ve ever visited.
If he is in fact managing money, it’s about delivering alpha. If he doesn’t deliver through whatever means he sees fit I can only hope his fund gets run into the ground, liquidated, and he leaves the industry so people don’t have to lose any more money off of his nonsense.
The Fly posts in the same manner that he claims seeking alpha did. The Fly is trying to protect his moronic long position in this YELP that not too many have heard of. The populous using it are fake. I never heard of this shit until it went IPO, then I shorted the hell out of it. I’ll buy back your long shares at $15 or lower, much lower.
Good luck hypocrite.
Dude crawl out from that rock and engage in cutting edge technology called the “Internet”. It utilizes a new fangled device that some refer to as a “magical box of pornography”…others call it a “computer”. Yelp is definitely a household verb here on the West coast. Maybe not so in Arkansas or West Virginia.
Todd
IDK who you are, but I’ve never met anyone as transparent or as open to questions as Fly. Yes, he goes on massive, sometimes absurd rants like 4 times a week (which are all “awesome and amazing”), but he has continually beat the markets and is always open to discussion.
dont be a troll.
Your liver will taste good with some fava beans and a nice Chianti.
Todd
Banned
I have always been forthright about my opinion. The point you seem to ignore is this bastard is claiming it goes to zero on YHOO. If done on his own blog, fine. But YHOO should be more responsible.
… if you want to impact the message of the propaganda machine, you are going to have to own your own propaganda machine to counter it. All else is wasted effort.
Props to you Fly. I actually read that story and knew it was complete garbage.
Firstly, MCPJ, we talked about this and…Damn playa you crazy, YELP is Gucci my mayne. Secondly, this guy is an idiot, who the fuck gives him money to manage? Did he steal Madoff’s clients? Probably not because he is not that smart. This shit trades up, I’ve got a large position, AAPL, GOOG, AMZN, FB, could all look to buy. Then this fucker is off to the races.
For me, the salient point of this great post was in tune with something I Tweeted last week “ok, I have a gripe – when I pull up Headlines at Yahoo! Finance I expect news, not opinion from TheStreet, Motley Fool and Seeking Alpha”
News is relevant, opinions are like…well you know – we all have one.
Seeking Alpha is often a good fade. So much so that I sometimes wonder whether people writing there may be actually accumulating shares in the stocks they trash– and trying to manipulate them lower so as to lower their cost basis over time.
Yahoo message boards. Well, all one has to do is take a look at them. Full of spam and other totally ridiculous things. Most of them are not real stock message boards. The posts mostly have nothing to do with any useful info on the stock.
“Having said that, the company is young and they haven’t figured out a way to profit”
Awesome! I started a website I don’t know how to monetize. BTW look at BBY’s chart for the past couple of years.
Also, GRPN’s model is as sustainable as Hugh Hefner’s erection.
YELP is the sound a dog makes when it gets hit by a car.
Are you going Zerohedge on us Fly/Flies? Did you write this?
Are you joking? You don’t get social networking. It’s pointless to talk to someone about yelp who is using a rotary phone.
The sound would be more like a thud rather than a YELP.
so a guy leaves university, and after 2 monster years of “work” experience (getting coffee and picking up dry cleaning) he starts his own “boutique” (cross dresser) he trades infrequently but wants to have influence by causing everyone else to lose money to gain a name for himself.
It is by using these kinds of “advisors” that people have lost so much fucking money over the last decade. 2 years of getting coffee at Amex qualifies you to be an expert in the market? Amazing.
Exactly
For fun, say “Kofi” backwards five times fast.
Actually Kofi Bofah backwards sounds interesting too… Have a bi-fok? Half a Bee fok? Either way it must be a made up code.
Y! Finance went to shit when Nathan Richardson left as GM
Yelp has no clear cut strategy on making revenue. It could go higher due to mania but it’s not a company and I would say stay away!
I happen to have bought (more like got them for free) a few restaurants and I happen to know that yelp is a lowlife’s portal to “empowerment”. Yelp will never be a real comoany and the caliber of people using it is…prety idiotiv. no pun intended.
Hahahah, bloody ‘Bearshitters’. Enjoyed reading this piece. Btw, Serking Alpha is trash
I honestly don’t understand how to value this, but I and everyone I know uses it. Maybe a Peter Lynch idea.
Personally, I’m most comfortable in a long position when the “going to zero” price targets appear… and “they” start to believe it.
Kofi Bofah
Kofi Bofah has been writing Internet content for one year. His articles appear on Associated Content and eHow, Trails and GolfLink via Demand Studios.
He is originally from Silver Spring, Maryland. This 2002 BSBA graduate from the University of North Carolina at Chapel Hill is the founder of ONYX INVESTMENTS, which is based out of Chicago.
Kofi Bofah enjoys writing about business, finance, travel, transportation, sports and entertainment.
http://contributor.yahoo.com/user/313402/kofi_bofah.html
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2012/4/25_Jim_Sinclair.html
Can’t think YELP will survive the mash out – but then again, suckers are born every day – and yes, everyone can have an opinion –
Todd
How’s. Your rotary phone?
Yahoo Finance……..really? Does this work in the same fashion as tacking your biz card up on a bathroom wall in bar?
Groupon, Yelp. If these are buy and I hold, we are in even bigger trouble than I thought.
Damn, failed to set my alert for DNKN earnings.
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YELP in HELL!
http://www.eastbayexpress.com/ebx/yelp-and-the-business-of-extortion-2%200/Content?oid=1176635
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