You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Byrne Takes Full Page WSJ Ad, Taunts Stevie
- Thread starter flytiger
- Start date
The Indian guy who used his hedge fund to buy shares when Gillette and PG were merging, was that inside or perfect information?
Berkshire- Hathaway's manager who bought Lubrizol? Perfect or Inside trading?
When a guy puts on a trade against a stable stock trading at $33 over the last six months and buys the August $17.5 puts for pennies and pays way over theoretical value, something is up! Jim Cramer was angry and knew the trade was not legitimate when company XYZ opened up at $6.50, netting the investment of $420,000 into a lottery size gain of $88,000,000, would Stevie Cohen say "That was a lucky trade, helluva job son!" Can any trader remember the stock this was?
The info came from the C.F.O. who knew the stock was going to announce the "Book Cooking" and used a cousin to make this trade. This trade is not part of the SAC mess, it was a older mess I remember when the CBOE trading unit was trying to untangle it, after it's option writing firm on this hand-held computer company blew up!
Berkshire- Hathaway's manager who bought Lubrizol? Perfect or Inside trading?
When a guy puts on a trade against a stable stock trading at $33 over the last six months and buys the August $17.5 puts for pennies and pays way over theoretical value, something is up! Jim Cramer was angry and knew the trade was not legitimate when company XYZ opened up at $6.50, netting the investment of $420,000 into a lottery size gain of $88,000,000, would Stevie Cohen say "That was a lucky trade, helluva job son!" Can any trader remember the stock this was?
The info came from the C.F.O. who knew the stock was going to announce the "Book Cooking" and used a cousin to make this trade. This trade is not part of the SAC mess, it was a older mess I remember when the CBOE trading unit was trying to untangle it, after it's option writing firm on this hand-held computer company blew up!
Isn't naked shorting just the same as single stock futures? What is the difference between a SSF struck at $50 and a naked short at $50?
Quote from billyjoerob:
Isn't naked shorting just the same as single stock futures? What is the difference between a SSF struck at $50 and a naked short at $50?
When I first met Patrick, he called me. Told me he had a question. He bought 50,000 OSTK, and wanted certs. His broker told him they weren't available. I asked if he paid for them, he said yes. Then, I explained what the contra, Lehman, did, and why his broker didn't chase him down.
Any industry that shits all over accounts that size needs to change, or die. How stupid. "Yeah, a million five. tell you what, we'll pretend you bought the stock, even give you a confirm and send it to the DTC. We'll buy it in later if you don't go b roke - maybe".
Now, think. I know that's a stretch for some of you, but think. What was wrong with that picture. No harm no foul? I think not. It's wrong on a million levels.
So you're granting there's no harm?
Quote from billyjoerob:
So you're granting there's no harm?
Where did you go to school? Of course there is harm. Do you know anything? What does TA do? It measures supply and demand. If you have unlimited supply, how do you measure real supply, or real demand? What don't you get about the basic premise of Capitalism. I give you something valuable to you for something of value in exchange. If it happened to you, you 'd bitch.
It's fraud, plain and simple. The Street wanted to crush O for doing a Dutch Auction. They got in, picked the wrong guy, now they die. And this will open up a can of worms most won't be able to recover from.
An old customer's friend was chief compliance officer at one of the big boys. He quit, saying, they didn't want to know right from wrong, they wanted to know if they did a certain thing, could they go to jail. That is the most banal of human behavior. It's ok unless I get caught. Well, guess what. They got caught.
the smartest guy? Does not look like it at all. He has a very weak and questionable managerial track record. It comes across as being comical when the guy who is less than mediocre opens the mouth the widest to cry foul.
Quote from flytiger:
There is another rub. I can't publically say what I know, what I have personally witnessed. It is onerous. But the bad guys can say and do anything, and they do. They've done it for years.
Patrick is the smartest guy I've ever met. He can expertly talk everything from Philosophy to Engineering. Nobody could talk him off this, and they tried. They tried to bribe him, bribe others to give him up....... . Now think critically. Here's a guy who's had cancer bouts, knows what is going to kill him, knows he hasn't got forever. And for reasons greater than most people can even imagine, this is one of the fights he has chosen. He could do anything he wants. He chooses this.
Think carefully when you make your wager. I 've had a very introspective week going back to the late 90's watching this play out. I really don't care that much anymore, because we deserve what we get. But it is going to be interesting. This is going to be a tidal wave. 50bb is alot of money, and like any disease, this one will spread to. There is no vaccine.
push hedge funds down? Sorry but that news ad is just bizarre and makes him look incredibly stupid and short sighted. Like a weak kid that got bullied in the sandbox and now rubs his A-grade of the last exam into everyone's eyes, not that anyone cared but we now have to read this black satire.
Quote from levitation:
Kudos to Patrick. Hedge funds paid the media to push his stock down and now hes paying the media to push a hedge fund down.
On another note, I'm not sure how much an SAC liquidation will actually impact the market. 50 billion might seem like a lot but the overall market is 15 trillion and I don't think most of it will actually be "forced selling". I'm guessing probably half will be done over a couple months.
So wait, "illegal short selling" is bad but legal short selling (meaning, being able to locate all the short sell inventory) is fine right? Ok, good, just wanted to check we are on the same page. I was afraid you support mediocre management performance by disallowing short sellers to hold management responsible financially.
Quote from piezoe:
Anyone who is long the stock, the employees of the company and its creditors, as illegal naked shorting drives companies out of business or to the point where there can be a successful hostile takeover by affiliates of those doing the naked shorting.
what a theater ET is, and the main comedians are right among us, thanks for the laughter.
Quote from flytiger:
When I first met Patrick, he called me. Told me he had a question. He bought 50,000 OSTK, and wanted certs. His broker told him they weren't available. I asked if he paid for them, he said yes. Then, I explained what the contra, Lehman, did, and why his broker didn't chase him down.
Any industry that shits all over accounts that size needs to change, or die. How stupid. "Yeah, a million five. tell you what, we'll pretend you bought the stock, even give you a confirm and send it to the DTC. We'll buy it in later if you don't go b roke - maybe".
Now, think. I know that's a stretch for some of you, but think. What was wrong with that picture. No harm no foul? I think not. It's wrong on a million levels.