My criticism of MSNBC writer in TheStreet.com about this thread:
First off, congrats to Bear Down and Tastes Like Chicken (and perhaps a few other names I didn't recognize) in the recent feature article in SI by David Z. regarding the FNTT (First Net Technologies) thread and the less-than-stellar motives behind that PR effort.
Secondly, I just wanted to fire off a post here - my last one to get it off my chest. I'm just protesting how MSNBC's Christopher Byron (again, he should be applauded for bringing to light the OTC fraud involved) did not acknowledge our guys here at SI for doing the fine detective work. Well, here's the post (repost from the AMZN board):
I've got a little Christopher Byron webpage going at
netconductor.com. It's a subsection of my "Internet stock
naysayers page" at netconductor.com
Let me show you my letter criticizing him. I wrote it to TheStreet.com
(where Byron is a contributing writer) but the letter was never printed and my emails
asking why were not answered. Apparently they are too busy to answer paying
subscribers these days. Or maybe they're just censoring critics to protect their writers? At least writer Eric Moskowitz answered my emails.
Since it will never see the light of day now, I'll toss it here so you can let me know what
you think. Thanks. P.S. Check out Byron's latest at
msnbc.com It starts off: "Anyone who thinks that Internet
investing is based on more than herd instinct..."
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TO: letters@thestreet.com
Feel free to edit this piece. If it cannot be published for whatever reason, please let me
know why. It is much more controversial than anything I've ever written, but the person
in question has truly raised the ire of the Internet investment community, as you can see
in past TheStreet.com letters. Thank you.
+++[Begin Letter]
Eric Moskowitz's "A Cybersleuth Claims Credit for SEC Action on Bulletin-Board
Stocks" was truly groundbreaking. It's the only news story that went behind the scenes
and detailed how vigilantes on the Silicon Investor stock boards unearthed information
that eventually led the SEC to suspend trading of several OTC bulletin-board stocks.
He also profiled the intensive research conducted by these investors and the increasing
power of retail investors in general. TheStreet.com is the only media source covering
this and other related SI investigation stories; however, Moskowitz failed to mention the
role played by fellow TheStreet.com journalist
("Eye to the Keyhole" column) Christopher Byron.
Byron wrote a piece on the scandal for MSNBC and should be commended for
bringing
attention to this fraud. However, Byron distorted the truth by
taking credit for having "exclusively reported" this scandal when in fact Silicon Investor
sleuths did so earlier. One Silicon Investor reader, posting to the MSNBC bulletin
board, went so far as to say Byron might be guilty of plagiarism.
Maybe Byron is hesitant to mention the Silicon Investor Boards because he sees it is
infested
with Internet-savvy individual investors, those typical of the "Internet rabble," "jerks,"
and "fools" he harasses on a weekly basis in his column.
Byron is the Ralph Nader of financial journalism, always quick to point out that federal
authorities are not controlling a market that is spiraling out of control. His common
theme is that investors need to be protected from the stupidity and "sheer unadulterated
greed" that is driving this bull market. He's been warning of the Net stock bubble for the
last two years, even
creating an "Internet Sucker's Index" of stocks. That index has skyrocketed, so who's
the real sucker here?
He had the gall to label Amazon.com an "IPO dog" and mocked investors for buying
Ebay when it had a market cap of only $3.3 Billion. In the meantime, his favorite pick
for underpriced stock of the year lost 2/3 of its value.
People read financial columns to help them make investment decisions. Byron has failed
this test miserably. Maybe he needs a lesson in Cramer-like humility and just admit "I
was wrong". Why does he still have a job?
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References/Citations
--------
My webpage detailing Chris Byron's endeavours:
netconductor.com
thestreet.com Michel Strickland
(1/21)
thestreet.com Gary Christy (1/9)
[END LETTER]
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- Netconductor.com |
