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Technology Stocks : Cymer (CYMI)

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To: Robert DeHaven who wrote (7040)10/28/1997 8:39:00 PM
From: Curlton Latts  Read Replies (1) of 25960
 
Barron's Bulbs and Barney's Bubbles

Using Barrons as an outlet for media hit pieces by certain short interests has almost become passe at this point in time. The days when that was effective are long past. Today, when you read some of that nonsense in Barrons it's almost a signal that the opposite is true.

R. Wilson's (a big short loser from 20 years ago) crowd was targeted for those tactics long ago.

Mr. Wilson and other members of his club would regularly feed ideas to Alan Abelson, whose front page Barron's articles are exceedingly influential. This led to criticism from a number of quarters, including the SEC. A story in the July 1977 Institutional Investor quoted Mr. Wilson's reply when asked if he tried to "use Abelson and Barron's to promote his positions": "I use everybody. I am always trying to get my longs up and my shorts down, so I am constantly using everybody. I feel perfectly free to tell Alan anything I have in mind." Abelson, in turn, as quoted in the Institutional Investor, commented: "Is it unethical to short the stock and call the press? I think it is. Is it done? You bet. But if the SEC doesn't like it, let them do something about it. I'm a reporter, not a policeman."

Yeah right Alan. When is the last time this type of published disinformation saved anyone on the wrong side of the fundamentals from losing big?

Something to think about for the 35% of thin float short interest investors in a gangbuster earnings growth company like CYMI.

Good Luck To Each And All

Curly
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