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December 29, 2005

And you thought there were wierdos in this business

by Andrew

I read an article in the WSJ last week about a successful hedge fund manager who was shorting Overstock.com’s stock. Overstock’s CEO, Patrick Byrne isn’t too happy. He ended up claiming that the manager is an evil “Sith Lord” and is leading a giant conspiracy featuring the FCC and DOJ. Oh, and this is the same hedge fund manager responsible for uncovering what was going on over at Enron.

I don’t use this blog to make personal attacks on people, but this story is just too wierd… and it gets even wierder. Here is what Mark Cuban at to say about CEO Patrick Byrne on his own blog:

Patrick byrne is a paranoid fool. I am short 20k shares. I would love to short many many more shares because a rule of thumb I have is that companies run by people I feel are paranoid fools, tend to go out of business. That makes them a good short

Considering the things that Patrick Byrne talked about during a recent conference call, I think I’d have to agree with Mark Cuban on this one.

1 Comment »

  1. Yea I read somemore about the guy online, he is a total quack! He is helping run Overstock.com into the ground.

    Comment by Joe — December 30, 2005 @ 2:36 pm

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