Byrne Takes Full Page WSJ Ad, Taunts Stevie

F

flytiger

The posted rate (pdf) for a full-page, color ad in the national edition of the Wall Street Journal for people who don’t have a regular contract with the newspaper is $327,897. But discounts are common, especially in the middle summer and amid a decline in newspaper advertising, so Byrne likely paid much less than that.

http://qz.com/108990/ceo-mocks-steve-cohen-in-bizarre-full-page-wall-street-journal-ad/

I'm guessing he has a hard - on for Cohen, but it's just a guess.
 
Quote from flytiger:

I'm guessing he has a hard - on for Cohen, but it's just a guess.
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You genius, you. If you don't know the full story, why don't you READ the article what you have just posted about???

SAC was naked short selling Overstock.... There you go, you don't even need to read it...
 
Quote from MoreLeverage:

Byrne, winner of the worst CEO award two years running, and known for filing baseless lawsuits to detract from his questionable performance, takes out vindictive ad? Well, maybe the Chief Nutjob found his Sith Lord after all. Too much coke makes you paranoid, they say, and he's sure paranoid.

http://markets.financialcontent.com/stocks/news/read/23255087/Patrick_Byrne
http://www.theregister.co.uk/2005/12/03/overstock_issues/
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Of course, you are up on the lawsuit where the GS lawyer leaked the goods? Of course you are. And of course, a 2005 article couldn't possible been a hatchet job. Of course not.

It's a different world. Even you could be a great trader if someone at Microsoft called you and told you what the earnings looked like. Yes, even you.
 
So how much was it Pat?


Quote from flytiger:

The posted rate (pdf) for a full-page, color ad in the national edition of the Wall Street Journal for people who don’t have a regular contract with the newspaper is $327,897. But discounts are common, especially in the middle summer and amid a decline in newspaper advertising, so Byrne likely paid much less than that.

http://qz.com/108990/ceo-mocks-steve-cohen-in-bizarre-full-page-wall-street-journal-ad/

I'm guessing he has a hard - on for Cohen, but it's just a guess.
More...
 
Quote from billyjoerob:

Who is the victim in a naked shorting scheme?
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Everyone. But, this is not about naked shorting. He's going down on insider trading.

Let's see, if they dissolve that firm, who's left holding the bag. Because there are lots of bags out there.

This isn't even arguable anymore. It is upon us. Go look at some of the old threads, and you'll see all of it play out in front of your eyes.
 
Quote from flytiger:

And of course, a 2005 article couldn't possible been a hatchet job.
More...
You can read the conference call transcript and judge for yourself. The parts about his drug use shows up towards the end, but the paranoid stuff runs pretty deep.

http://www.sequenceinc.com/fraudfiles/wp-content/uploads/2008/06/ostk081205.pdf (transcript)
http://whitecollarfraud.blogspot.com/2013/01/overstockcom-ceo-patrick-byrne-sleeps.html (more recent list of paranoid actions/statements)

Interesting stuff on the GS/ML case regarding strategic failures to deliver, but in the end it got dismissed along with all the rest of the overstock cases against brokers.

http://www.bloomberg.com/news/2012-...missal-of-overstock-s-short-sale-suit-1-.html
 
Quote from billyjoerob:

Who is the victim in a naked shorting scheme?
More...
Like any transaction in the market, there is a loser for every winner since there is a counterparty to every trade. In this case, longs who sell before the excess shorting is resolved likely receive a lower than fair price, while shorts who cover before its over likely receive a better than fair price. For those who just held throughout, there is no impact.
 
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