Am I the only one who finds Herb Greenberg incredibly annoying? As far as I can tell, all he's got going for him are his sources, many of whom are heavyweights in the community of shorts. Unfortunately, Herb adds nothing to the equation. There never seems to be any substance to his comments, just a series of snide one liners (and I do wish he'd stop the giggling). In many ways he's just a yuppie version of Alan Abelson, although Alan is a better writer.
This morning's session is a perfect example. Three names get thrown up on the screen, all targets of his sources, and all up on Tuesday after a long down trend. Herb blames the price rise on shorts who didn't have any guts and covered out of panic. Nothing about the fundamentals of the companies, just some ominous allusions like "if they only knew what I know" and quoting the CEO of one of the companies as saying the price was so high because "it's being bought by Europeans, and they value our stock differently".
What's so frustrating about Greenberg is that there are so few spots devoted to short selling, and this one is wasted with a lightweight like him. I'd much rather see someone like Fleckenstein. While I often disagree with him, at least he's able to give a cogent explanation of his reasoning and I'm able to make my own judgement. Greenberg's innuendo filled bashing of stocks his sources want to put pressure on is worse then useless.
FWIW,
Mark |
