Then again, maybe I'm selling 'Ol Jimmy short...
On March 13 and March 14, Faber told CNBC viewers that a hedge fund manager â âa friendâ whom he âtrustsâ â told him that Goldman Sachs had refused to accept Bear Stearnâs credit. This information was false. It was a deliberate, malicious rumor delivered to a friendly journalist in order to destroy Bear Stearns.
Find out who Faberâs hedge fund friend is. Case solved.
This would not be the first time that Faber reported misinformation in service to a hedge fund friend. He used to do it for Jim Cramer, back before Cramer became CNBCâs leading âjournalistâ â back when Cramer was running his own hedge fund. A former employee of Cramerâs hedge fund has written a book, âTrading with the Enemy,â in which he describes Cramer feeding Faber tips and illegally trading ahead of Faberâs reports on CNBC.
It is no small coincidence that a clique of journalists connected to Cramer regularly write false or misleading hatchet jobs on companies targeted by short-sellers connected to Cramer. And it is no coincidence that these same hedge funds have deliberately and maliciously sought to destroy dozens of public companies and peopleâs lives by circulating rumors, issuing bogus âindependent financial research,â clogging Internet message boards with false information, filing bogus class-action lawsuits, getting the SEC and other government agencies to conduct dead-end investigations, and hiring convicted felons to harass CEOs. (And thatâs not all; see âThe Story of Deep Captureâ for the gory details.)
It is also worth noting that in almost all of the companies targeted by these people, somebody has sold massive amounts of phantom stock to further drive down prices. Two companies targeted by these people are Lehman Brothers and Bear Stearns. Both have been victimized by phantom stock sellers.
Weâd say somebody should investigate this. But that would be crazy
On March 13 and March 14, Faber told CNBC viewers that a hedge fund manager â âa friendâ whom he âtrustsâ â told him that Goldman Sachs had refused to accept Bear Stearnâs credit. This information was false. It was a deliberate, malicious rumor delivered to a friendly journalist in order to destroy Bear Stearns.
Find out who Faberâs hedge fund friend is. Case solved.
This would not be the first time that Faber reported misinformation in service to a hedge fund friend. He used to do it for Jim Cramer, back before Cramer became CNBCâs leading âjournalistâ â back when Cramer was running his own hedge fund. A former employee of Cramerâs hedge fund has written a book, âTrading with the Enemy,â in which he describes Cramer feeding Faber tips and illegally trading ahead of Faberâs reports on CNBC.
It is no small coincidence that a clique of journalists connected to Cramer regularly write false or misleading hatchet jobs on companies targeted by short-sellers connected to Cramer. And it is no coincidence that these same hedge funds have deliberately and maliciously sought to destroy dozens of public companies and peopleâs lives by circulating rumors, issuing bogus âindependent financial research,â clogging Internet message boards with false information, filing bogus class-action lawsuits, getting the SEC and other government agencies to conduct dead-end investigations, and hiring convicted felons to harass CEOs. (And thatâs not all; see âThe Story of Deep Captureâ for the gory details.)
It is also worth noting that in almost all of the companies targeted by these people, somebody has sold massive amounts of phantom stock to further drive down prices. Two companies targeted by these people are Lehman Brothers and Bear Stearns. Both have been victimized by phantom stock sellers.
Weâd say somebody should investigate this. But that would be crazy