Patrick Byrne on Cramer................

I've seen a couple of stories recently about guys 'killing poisonous snakes' where they think the reptile is dead, and they end up dying.

If you're going to kill a man, you'd better make goddamned sure you finish the job. Payback is a bitch......

The Deepcapture link this thread is based on is updated. I suggest you go look:

<img src=http://elitetrader.com/vb/attachment.php?s=&postid=1859901/>
 

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Quote from IanMacQuaide:

What if Patrick has a point? What if what he's alleging is even half true?
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I hate to tell you this, but it's all true.....

DTCC is reporting $13.2 billion in fails at the end of 2007. Stock Borrow was up only about 50%, so that failures to receive (directly equivalent to phantom shares in investor accounts) rose by 117.9%.


But what the hell. We're all friends.

Let me just put this in personal terms. This man has given his all because it's the right thing to do. There is nothing false or shallow about him. He's called all this from day one, because it happened to him. You could have worse friends. You couldn't have a worse enemy.:D
 
Quote from jhithers:

I am not a Cramer fan, but at the same time Patrick Byrne is a complete whack job. He embodies the "take no responsibility/blame everyone else" philosophy, and if he spent as much time focusing on running a company as he did on his ramblings and crying like a pussy, OSTK's stock price might be the better for it.

Or he could just resign and they could put a competent person in his place.
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hahaha... I totaly agree.
 
Quote from flytiger:

Oh, gee. I'll tell him. And your credentials are............???
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who the fuck are you to judge my credentials... just because you "know" him, you are the only one that has the right to say anything about him? I still think he is a tool.
 
Quote from pcdunham:

who the fuck are you to judge my credentials... just because you "know" him, you are the only one that has the right to say anything about him? I still think he is a tool.
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Great. Tell me why? Give me some facts. Then, we'll all judge you. You just show up, selling wolf tickets? Spill. Let's have your extensive research.

The 'ole ET, "yeah, well go fuck yourself." Nice argument. Two brilliant, fact filled entries. Let's see if I can paraphrase the first.

"Yeah. He's an idiot. Ha ha ha." MMM MMM. Brilliant. Earthshattering.
 
Quote from flytiger:

Great. Tell me why? Give me some facts. Then, we'll all judge you. You just show up, selling wolf tickets? Spill. Let's have your extensive research.

The 'ole ET, "yeah, well go fuck yourself." Nice argument. Two brilliant, fact filled entries. Let's see if I can paraphrase the first.

"Yeah. He's an idiot. Ha ha ha." MMM MMM. Brilliant. Earthshattering.
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In that article he says cramer is crazy. I guess it takes one to know one. This guy is a total retard whose own father is embarassed by him. You're making yourself look stupid even defending him. Cramer and him should join hands and both check into the nearest funny farm.
 
Fly, I agree with yours and Byrne's call for better regulation and less manipulation.

I bought puts in OSTK when it was in the forties a few years back. This was before I even knew what a naked short was. I think I went with the puts because I could not get shares. Anyways although Byrne has helped to increase peoples consciousness of this problem he most likely hurt the shareholders of OSTK because of it. If you are a friend of his I would recommend you advise him to pass the baton on to a new figurehead for the cause because with the current economic environment a company like OSTK should thrive. If it is not able to do so he may not have a company left the next time we have a good environment for a liquidator.

Naked shorting and manipulation are bad things and should be stopped but it is also bad for investors to have a Chairman and CEO who is not completely focused on operating a successful business.

I just noticed you can leave comments on his blog so I will also let him know my feelings there. Peace.
 
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