HerbGreenberg leaving Marketwatch

Discussion in 'Wall St. News' started by flytiger, Apr 15, 2008.

  1. I'm sure, with Wall St falling off a cliff, Hedge Funds getting reigned in, old Herb decided it was a great time to move out on his own and really knock 'em dead. A 'lay off'???? I'll bet he pulls a Dorfman, or a Dorfman was pulled on him.


    Posted Apr 15th 2008 2:05PM by Zac Bissonnette
    Filed under: Media World

    On May 1st, financial journalism will be losing one of its best voices.

    In a post on his blog this morning, Herb Greenberg wrote that "I'm leaving MarketWatch, Dow Jones and traditional journalism to start an independent research firm with my friend, Debbie Meritz, an analyst/accountant who has been a very good source of ideas in the past."

    In addition to being an all-around great guy, Herb is one of the best scambusters in the business, calling shenanigans at companies like Krispy Kreme (NYSE: KKD) and Novastar Financial long before analysts or the SEC had caught a whiff of anything.

    He's also demonstrated tremendous bravery, continuing to write about Overstock.com (NASDAQ: OSTK), even after libelous comments by its CEO/village idiot Patrick Byrne referring to him as a "crooked reporter."

    Herb will be leaving MarketWatch May 1st, and there may be some downtime before his research firm begins alerting investors to hype and exaggeration. So if you're a crooked CEO looking to dupe investors, you might have a narrow window of opportunity before Greenberg is back on the case.
  2. So they're just going to let shorts post stories directly, without having Herb pretend to write them?

    He's going to open a "research" shop? That's rich. The only research he has ever done is answer the phone.
  3. Well, he also goes head to head with that lunatic Cramer, and few are willing to do that in public.

    I like Herb. Hope he makes some serious $ now.
  4. Herb is doing just fine. I don't know many reporters living in a million dollar mansion.
  5. Greenberg's threats of lawsuits are ridiculous and the mark of a liar. He is a public figure. He would have to prove actual malice, meaning Byrne knew what he said was a lie. He or his lawyers know he can't do that, and that's the reason he isn't suing. Plus, if he sued, all his contacts would be open to discovery and he would be revealed for the charlatan he is.

    I don't know about the CNBC fax machine, but you'd have to be totally naive to believe that Greenberg was not just a conduit and mouthpiece for hedge funds. I doubt he's ever done any original research in his life.
  6. You're precisely right. Patrick would love Herb to sue, and I believe Herb knows it.

    The whole thing is, we cannot have a system where you can load, reload, and then get shills to talk your position. They call it 'free enterprise', not 'bought and paid for.'