Mary, I challenge you to select two companies--from each year starting 1998 to 2002--that Elgindy organized a full-scale shorting attack upon. Copy what you just wrote to five longs from each company and please report back to us what kind of responses you get. Rather than assume there was no victimization except for the real bad guys, why not confirm it?
Personally, I can tell you that you're plain wrong if you think no innocents got harmed. Why? The reason is my girlfriend innocently got caught in an organized short trap. You see, when the short horde hits all at once and the price suddenly--especially with a low float--drastically changes, there's a very strong tendency to attempt to ride it out. This is especially true of an inexperienced investor, perhaps the most innocent of all.
Hey, I hate opportunistic moneymongers as much, if not more, than anyone. And Elgindy fought some of 'em. But that doesn't mean Elgindy can be forgiven for being one himself.
Rather than defend what is unknown, the facts which led to the allegations and charges, or to attempt to deny what is known, i.e., that innocent investors did get hurt by Elgindy's (and the enterprise's) actions, why not set back and wait the whole matter out. Meaningful questions rather than an all-out defense might well be the prudent course right now. Don't you think so? |
