Nah, I don't think SI would want him back here. The dude is as tarnished as you can get without being incarcerated.
I never would have had a problem with this guy, even thought it was clear he knew nothing of how the markets worked (everyone has a right to make a fool of themselves) -- until he charged people $99 for his TOP 2000 picks. No, of course, I did not pay for his picks nor did I buy any of his stocks (except for a trade here and there on the likes of RBAK). But, I watched with amusement and interest at how this so-called guru fleeced everyone, enriched himself, bought into his own hype, started a mutual fund, and appeared on CNBC spouting off some nonsense. In December 1999, I decided I would keep track of each of his picks for 2000.
I found this article by TheStreet.com attempting to describe the circumstance around Harmon's "departure":
Harmon Leaves Zero Gravity Internet Fund
By Ian McDonald
Senior Writer
10/30/00 11:52 AM ET
It looks like Net guru Steve Harmon has left his post on the fledgling Internet fund that once bore his name.
On Oct. 17, Zero Gravity Funds, formerly e-Harmon Funds, filed a seemingly routine supplement to the prospectus for the fledgling $6.2 million Zero Gravity Internet fund -- formerly the e-Harmon Internet fund. The filing updated the fund's portfolio management team listing Lisa Cavallari, Randy Chin and Patrick Wong -- leaving Harmon notably absent.
Harmon, a co-founder of the firm, which has a VC and research unit in addition to its funds effort, may have left the firm altogether. Cavellari didn't immediately return an early morning call for comment, but Harmon's bio is no longer listed with other executives' on the firm's snazzy Web site.
If he has left the firm, it's hard to say how that might affect the fund. He was the only member of the management team without portfolio management experience -- he had built Net indices in the past but hadn't run a fund.
The fund, launched in May, is down 11.4% over the last three months, which actually beats the average tech fund, according to Morningstar.
Harmon made his name as an analyst and commentator on Net stocks way back in the 1990s. In May he shared his view on Net stocks in this Streetside Chat.
The firm's decision to switch its name to Zero Gravity and add other managers to the fund back in August may have presaged his apparent departure.
thestreet.com |
