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Biotech / Medical : The Stock for 1999(Polymedica)PLMD(Medical Supply Co.)
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To: Sam who wrote (3184)11/26/2000 1:56:57 PM
From: Arthur Radley  Read Replies (2) of 3414
 
Afternoon Sam,
Just got back from a 9 day visit in London to see our daughter. Missed all the action in PLMD.
In defense of Cheryl Einhorn, I've actually talked with her about one of her articles several years ago. She wrote a negative article on an oil company(Arakis Energy)and their project in Africa. The stock had risen dramatically and even continued to after her article. I did a little DD on the stock and made a decision to short it and did so at about $18.00....and the end of the story is that Arakis no longer exist. The truth finally came out and the stock cratered. What is so funny(at least now)is that they halted trading in the stock and for several months I couldn't close out my position. I even took my case to the top management of Schwab in trying to get my money. Their response was that I had to close my position via an actual trade..which I couldn't do because of the halt. We went round and round on this issue and finally the stock opened for trading and I closed out my position.
Einhorn originally took a lot of heat over her story. I'm not defending Barron's, but as you know, I'm personally involved in the publishing business and Barron's isn't going to stick their heads out on the chopping block over one company...Polymedica.
Hope you and family had a great T-day. We enjoyed our time in London. What a great city for culture and the theatre. We saw Cats(4th time),The Lion King, The Complete Works of Shakespeare(A real hoot) and Mouse Trap.
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