The other side is represented here, that the individual is getting killed: http://thesanitycheck.com/Portals/0/pg3_022706.pdf
U.S. Subpoenas 2 Dow Writers, Then Backs Off http://www.nytimes.com/2006/02/25/politics/25overstock.html
are you nuts sparhok, Herb is the most honest reporter out there. He doesnt own stock or trade in what he reports. How can he talk down a stock he doesnt short sparohok. Herb is a straight arrow kind of guy. Did you even see the interview with patrick byrnes. He claims that the reason why his stock his down its b/c of some grand conspiracy where herb orchestrated and controlled his stock downfall. And it wasnt that his company was losing cash hand over fist. Somebody should investigate patrick burns the investors. Explain why it took weeks to tell the public about his little technological problem. And not days.
well we are talking about two seperate things. One is national security and one about freedom of speech. Patrick "burns" doesnt claim anythign that Herb wrote was wrong. That his stock is down b/c of downgrades and his company is losing money. He claims that there is a grand conspircy where he alleges "claims" that herb took cash to write the articles. And first off its about freedom of speech. The constitution permits reporters to talk to sources. And herb released his finanicial statements. he didnt take any bribes or own or sold any stocks. What they want to do, is step onto the boundaries of freedom of speech. Thats why the SEC backoff. When herb released his financials, they knew they were in the wrong. In a world, where patrick byrnes isnt investigated, and it takes 5 years to even investigate Kenith Lay, it only takes a mouth or two to supeona Herb, then the whole system is corrupt.
If that's all it takes to be a "straight arrow," shit, I'm getting into the journalism business. You think the only way to profit from writing a story is to buy or sell the stock yourself? You'd have to be an idiot. There's no way you're going to fly under the radar with a scam like that, at least not when you're writing under your own byline. There's more than a trillion dollars in hedge funds. You can be absolutely sure that some of that money wants to buy itself a journalist. It's just a matter of finding the right journalist and the right way to pay them off. There's one journalist who I've seen write stories based on tips from hedge fund managers, actually quoting that manager, on positions I know the manager is holding, and which moved the stock <i>significantly</i> in the manager's favor. That journalist is Herb Greenberg, and the manager is David Tepper, and the stock was Cornerstone Return Fund (among others). Can I prove wrongdoing? Of course not. All I said is it stinks, and it does. Incidentally I made lots of money on that move, this isn't sour grapes, I'm just calling it the way I see it. As for OSTK, that's just theater. I don't know or care who's scamming who in that stock. Martin
The question is wether Greenberg is just a stooge who is pumping out ideas from hedge fund manager who are short particular stocks. He can write his own articles, but there are trying to see if he is just writing articles to help specific hedge funds make money.
are you claming herb bought options on the stock. Well guess what the guy has never bought any options. But if you are claiming he got famous off breaking news on these stocks...well duh thats called his god given freedom, and its in the constituion of every major country. Sparohok...herb is good guy. 100% of what herb writes about is just common sense stuff. Like how come overstock is 1000 p/e, but they are losing every quarter. How come byrne showed a chart claiming he would make money every quarter after this date, but when we come past that date and then some he is still losing money. Common sense. And yeah sparahok, if you had his reporting talent you would probably be a billionaire. But this guy chooses to write b/c thats what he loves todo reporting. The guy has never benefited with stock or options, or kickbacks. The onlything he benefitted from is praise from us investor community, who knows an honest guy when we see him!
The problem is that, thats unconstituional. If the SEC wanted the emails, they should go after the hedgefunds, not herb. Herb is only writing the stories and reporting. Its a constituionaly protected right. Thats why the SEC is backing down. Byrne on national tv made claims that Herb greenberg took kickbacks. All you need todo is look at herbs financial records. Thats financial accounting 101.
We see your position, but Herb still has to be checked out. It's the SEC's job. Was Dorfman just an honest journalist? And what about the "Heard on the Street" scams? The SEC didn't do this just because Byrnes asked them to or just because they felt like it. They must have some strong evidence of criminal activity, IMHO. And it doesn't have to mean herb did it. He could easily have been manipulated by the HF gang.
No, obviously I claimed nothing of the sort. CEFs aren't optionable. If it's just common sense why does he need to be tipped off by hedge fund managers? Your faith is endearing. I don't know that he's on the take. I only have circumstantial evidence. However, it's pretty clear to me that he's either on the take or he's being used for free. Not sure which is more embarassing for him. Martin