The Neo-Market Report

By stereolab

Welcome to another installment of The Neo-Market Report. This week Micah Mynci, former CEO of Moehog Fidelity Investments, will join Neopia's foremost Financial Experts. And now, here are Neil and Maria…

KAUVUTO: Hello and thank you for joining us as we bring you this week's edition of The Neo-Market Report. I am your host Neil Kauvuto, and as always I'm joined by Maria Blumaroono, who's at the News Desk with the latest news from the floor of the exchange. Maria…

BLUMAROONO: Thank you, Neil. Bad news continues to be the order of the day as the economy keeps taking a drubbing. Nearly every stock on the board took a loss this week, with the once-reliable Yippee!'s 551 point loss leading the way. Once seen as a cornerstone of the new economy, the stock has lost over 65% of its value in the past two weeks. Others taking big hits in this week's fallout were Chia Steel, whose President J.P. Moehogan has hinted at a possible resignation, and Neopian TV Channel One, who dropped a whopping 324 NPs a share.

KAUVUTO: However, there have been a scant few companies who've managed to turn a profit. One of the fortunate survivors who's bucked the Recession so far is Jacko the Scorchio, whose Jacko and Sons Painting Ltd. topped last week's impressive 17 point gain with an incredible 60 points a share increase this week…

BLUMAROONO: Those Disco and Electric paintbrushes that Jacko was talking about last week must really be selling…

KAUVUTO: Yeah... in addition to Jacko and Sons, Techrobatics has continued to ride the wave of demand for Fitness Videos by posting a twenty-point gain this week. My guess is that, as Neopians keep working off those Holiday pounds, Techrobatics will continue to prosper…

BLUMAROONO: As many of you know, the market has been flooded recently with a flood of scandals, as well rumours of price fixing and insider trading. As a result, a number of offenders have been prosecuted by the NSEC (Neopian Securities Exchange Commission). One such trader who has felt the wrath of NSEC Chairman Arthur Lupevitt is our guest today. The former President of Moehog Fidelity Investments, Micah Mynci was recently indicted on four counts of insider trading. After cutting a deal with prosecutors, Mynci now faces six months house arrest, 5,000 hours of community service, and a 3,000,000 NP fine. He is here today to warn others about the dangers of committing Stock Fraud. Thanks for joining us, Micah…

MICAH: Thank you for having me.

KAUVUTO: Now, you've just wrapped up the trial, correct?

MICAH: That's correct…after this interview I'll return home to begin my sentence.

KAUVUTO: You're not going to be staying in that palatial mansion that we saw in that layout you did for Neopia Deluxx magazine, are you?

MICAH: Oh no…when I was convicted, everything I had was seized. The mansion…the money…all those rare, beautiful items that I had collected during my brief stay at the top. During my sentence I'll be staying in a grubby little room in Cockroach Towers. I'm not looking forward to it…

BLUMAROONO: Could you explain to us how you got wrapped up in this whole insider trading thing?

MICAH: Well as you know, we had nearly half a million customers at Moehog Fidelity. So at one of our company meetings it was decided that we would buy millions of shares of Chiatech Password Security. They'd recently had a password scandal, so their price was really low. Once the price skyrocketed, other investors jumped aboard the bandwagon, and that's when the Moehog investors got out. In the end, the bandwagon jumpers were stuck with the Chiatech shares when they plummeted, and we made out with billions of NPs in profits.

KAUVUTO: Looking back on what's happened, do you feel you've learned anything from the experience, and is there anything you'd like to tell our audience?

MICAH: Most definitely…If any of you out there think you can scam the market, I'm here to tell you that you can't. I'm living proof of it. We thought we had it all figured out...there was no way we were going to get caught. And yet here I am today, with nothing to show for it but a ruined career and a criminal record.

BLUMAROONO: Well, that's going to do it for us this week. For Neil Kauvuto and Micah Mynci, this is Maria Blumaroono saying thanks for joining us. We'll see you next week…