If you’ve been reading this blog, you know how much BS there is in finance—and how detrimental it can be—but now it turns out there’s even more BS in publishing. Publishing memoirs that is. (Since my entire life has been based on discovering and profiting from BS—and now profiting by cutting through that BS—is it any wonder I’ve switched jobs to the publishing industry?)

Oprah find James Frey was the most high profile writer to admit his memoir was a lie and there’s been plenty more since. Like those copycat student gunmen who, annoyed by their mundane lives, crave attention and fame through murder these authors feel they must ignore morality to get to the top. Too harsh a comparison? I think not.

In the last week alone, two critically acclaimed memoirs—I won’t even mention their book titles or link to them on Amazon because they don’t deserve any sales—one about growing up in a gangland and another more lighthearted subject—the Holocaust—were exposed as total frauds (read the articles HERE and HERE). Here these criminals are–Margaret Seltzer and Misha Defonseca–and these are what should be their mugshots:

Listen, writing a book is no easy process—it takes many, many months and many, many sleepless nights—but these authors completed this task, all the while knowing they were cheating. No matter how much money they’d earn or recognition they’d receive, I do not understand how they could live with themselves. Can you? Is potential wealth and fame really so important that people need to throw away everything they know to be right? Now I’m nowhere near perfect, but I could never base my life or livelihood off lies. What kind of monstrous people resort to such acts?

Sure, getting published is tough and controversial non-fiction stories like these that one day might be made into films starring George Clooney give you better odds, but as somebody who’s personally written a memoir, a painstakingly honest one at that, I can never forgive these frauds for what they’ve done.

While they might be less evil than murderers, albeit slightly, thanks to them, the world is a worse place. No different than penny stock promoters who lie and cheat their way to getting people to buy the fraudulent products they peddle, nor the cold-calling “brokers” who dole out investments claiming to have done thorough research but who in no way could possibly have the time / intelligence considering they’re making 500 calls per day (like those featured in the latest season of Wall Street Warriors!), these frauds walk among us and until they’re publicly exposed, tarred and feathered, they’ll keep on promoting their BullShip.

Now I’ve created my wealth by hopping on the BullShip bandwagon (buying penny stock breakouts), betting against it when reality intervenes (shorting penny stock momentum plays when their charts turn bearish), but now I follow a more righteous pursuit, hoping to create a second fortune, an immensely greater one, by cutting through it all and educating people as to the grim realities of Wall Street.

Did these authors / stock promoters / “brokers” ever stop to think there’s actually value in telling the truth? Maybe even MORE value than in lying / cheating and stealing? Maybe their minds are so twisted, they can’t even tell what the truth is anymore.

My point is that if we ever hope to lessen the BS, frauds like these need to be made examples of. There needs to be consequences for their actions. Not consequences like James Frey’s million dollar advance for his next book, in which readers will have fun trying to figure out if he’s lying or not!

So, once again, please remember these newly exposed fraudulent authors’ names—Margaret Seltzer and Misha Defonseca—and pictures:

that way if you see them anywhere, like at a wedding or hear their names being called, like if they’re being seated at a restaurant, you have the legal and moral right to go up to them and smack them in their fraudulent faces and say “Baaaaaad dog!”

You’ll be making the world a better place.

Tags: Books, Criminals, idiots, Manipulation, Rants, Scandals