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Pastimes : CNBC -- critique.
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To: capitalistbeatnik who wrote ()2/4/2000 9:20:00 AM
From: Mark Marcellus  Read Replies (3) of 17683
 
Great article by Cramer on the Greg Hymowitz/Epicor debacle last week. He's been on a crusade to persuade money managers to stop pushing small caps on TV, and this is his best article yet. For those with a subscription to TSC, the full article is at

thestreet.com

He tells the story of one reader who (foolishly, as she admits) put in a market order to buy after hearing Hymowitz tout the stock. He sums it up this way:

In other words, a pretty sophisticated individual was fooled into buying this stock badly by the process of seduction on TV. I don't want legislation about this. We have it: The 1934 act prohibits manipulation. I don't think this was manipulation. I don't want investigations. He probably regrets what he did, which is cause a stock to run up and then run back and he is now stuck with bad holders from now till kingdom come. I am sure he sold no stock into his pump. So there probably was no dump. That would have been a real problem.

But I want some common sense used by money managers on TV shows so the Bonnies of the world don't lose money. I believe in caveat emptor as much as the next guy, but money managers who read me -- and I know you do -- wise up. Stop it with the small-caps. Just say you won't go there.
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