Victim: David Patch

Victim - Individual

David Patch is an engineer and Wall Street investor. He became an activist after becoming a victim of naked short selling. He is one of the stars in The Wall Street Conspiracy (2012) documentary. Patch filed Freedom of information requests on various companies to research “fails to deliver” only to discover these crimes were happening every day on Wall Street and nothing was being done about it. He began an online petition against naked short selling and started a website called InvestigateTheSEC.com directed at congress and to raise awareness of the $1 Billion investor fraud orchestrated by SEC. He was also known as one of the “dirty dozen” that took to the streets to raise awareness of these financial crimes.

Biography

InvestigateTheSEC.com

 

Victim: Darren Saunders

Victim - Individual

Darren Saunders  was an investor, activist, and one of the stars in The Wall Street Conspiracy (2012) documentary. He was a victim of Naked Short Selling and spent the remainder of his life exposing and protested daily to raise awareness about the financial crime of naked short selling He eventually hooked up with David Patch, another victim and activist and was known as one of the “dirty dozen.” Saunders passed away from cancer in 2010.

 

Media: Helen Avery

Media

Helen Avery is a journalist for Euromoney Magazine heading up global coverage of social and environmental finance. She is the managing editor of their sustainable finance podcast series. Avery also runs Euromoney’s coverage of global wealth management and philanthropy (since 2004). Throughout the years, Avery has written several articles and exposed how naked shorts and “fails to deliver” in the US equity market have been exacerbated and the sharp declines in share prices of financials. 

Biography

EuroMoney

 

Lawyer: John O’Quinn

Lawyer

John Maurice O’Quinn (September 4, 1941 – October 29, 2009) was a Texas trial lawyer and founding partner of The O’Quinn Law Firm (formerly known as O’Quinn & Laminack). His firm made its business handling plaintiff’s litigation, including representing clients suing breast implant manufacturers, medical facilities, and tobacco companies. In 2009, O’Quinn, along with his passenger, died in a single car crash in Houston, Texas. There were three class-action law firms, headed by John O’Quinn, pushing back against naked short selling. O’Quinn ‘s firm was one also representing Overstock.com in the Internet retailer’s suit against short seller Rocker Partners LP and research firm Gradient Analytics.

Biography

 

Article: What To Know About Short-Seller Risks During Pandemic

Article - Academic

What To Know About Short-Seller Risks During Pandemic

Avi Weitzman, Barry Goldsmith and Jonathan Seibald

Law360, 3 June 2020

As the world struggles to cope with the COVID-19 pandemic, and volatile markets are rattled by the latest virus and economic news, publicly traded companies are increasingly susceptible to fraudulent short-seller attacks. While legitimate short selling plays an important and well-recognized role in the public markets, there are a few who have abused and misused short selling to manipulate the price of public company stock.

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Article: Goldman Sachs starts shorting the dollar as economic reopenings boost foreign currencies

Article - Media, Publications

Goldman Sachs starts shorting the dollar as economic reopenings boost foreign currencies

Ben Winck, 01 June 2020

Economic reopenings outside the US are lifting foreign currencies and creating a strong opportunity for some bets against the dollar, Goldman Sachs strategists said in a Sunday note.
Cash assets served as an initial safe haven for investors as the coronavirus spread throughout the US in March and fueled new recession fears. With economic reopenings taking effect around the world and new stimulus measures further lifting sentiments, the firm highlighted the Norwegian krone as best suited for a bet against the dollar.

“We have maintained for some time that it was too early to look for outright and sustained dollar downside given the balance of cyclical risks,” the team led by Zach Pandl wrote. Yet “the steady reopening process, limited evidence of a pickup in COVID infection rates” and new relief policy like the EU Recovery Fund make Norway appear “well-positioned to outperform through the coronavirus shock,” they added.

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Article: 9 FINANCIAL GURUS WHO’VE GIVEN TERRIBLE ADVICE

Article - Media, Publications

9 FINANCIAL GURUS WHO’VE GIVEN TERRIBLE ADVICE

Accounting Degree, 01 June 2020

Many Americans turn to financial gurus for personal finance advice. Twenty-four-hour news stations, online media, and a wealth of financial books have made it easy to tune into your financial wizard of choice. And while there’s a lot of good advice being shared by financial gurus, even the best are bound to slip up at some point. Here, we’ll take a look at financial gurus, some good and some bad, that have at one point given terrible advice to their fans and clients.
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THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?