http://www.sharesleuth.com/ This is like that guy who put rocket pods on his Impala. I just don't see it turning out good. How in the world do you report this stuff, and front run the position? If he's by himself, you know they'll watch a couple and fade him into oblivion. Is Cuban a tool for the shorts, ala Elgindy?
it's a good idea, trying to create a user generated content community, with a focused goal. i'm wondering how they are going to market this? how did you hear about it anyway? as evidenced by this post, message boards are a good way to get the word out
It was covered on CNBC last week. I think it was an SEC guy that said that he would be in big trouble if he took a position and then his site reported on it. The guest opined that even disclosure would not be sufficient in such a situation.
Doubt that's true at all...perhaps you heard it wrong. Think about it...mutual funds take positions all the time and then talk about them on the news media. The key is disclosure. There is no requirement in the law that once you take a position that you keep mum. OldTrader
they will do some legit work ... gain some credibilty, then they will "shark" some good companies and act like white knights. this chris guy might be ok but if there is cuban money behind it then it is fishier than a rosie o'donell sleepover.
==================== Figure Mark Cuban probably will do well with it; because of his other business ventures. Not a lawyer, and laws can be changed anyway. But commenting on Flytiger SEC comment. There was a pretty accurate financial news letter , the main owner traded off it, & SEC said the disclosure didn't matter, and gave Company owner the choice;news letter business or trading business, not both. Fortunately the owner never hid the fact he traded off it
wonder why the site looks so cheesy with cuban's money behind it? perhaps the "mom &pop" homemade look is the angle?? surf
There are many, many examples of newsletters where the principals have positions in stocks that they talk about. One prominent one is Jim Cramers letter. But as always, the law depends on all the details...and we don't know all the details in the case you mention. Put it this way....Cuban is a sophisticated player, and has more than enough money to seek out legal counsel. It was probably the first thing he did. In fact, one other point....there is no requirement that newsletter be "registered" with the SEC. Investment advisors, yes, money managers, yes...but not newsletter writers. OldTrader