Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Kevin Kelleher
The Street, 18 August 2005
Naked shorts. There’s something about those two words that begs for sensational coverage. But the scarcity of hard data on the illicit trading tactic so far has only polarized the debate on how serious a problem it has become.
Overstock Faces SEC Probe, Details Short-Selling Lawsuit
Carol S. Remond | Dow Jones Newswires, 12 August 2005
Overstock.com President Patrick Byrne said in a conference call Friday that the Securities and Exchange Commission began an informal inquiry into the company in February. Continue reading “Article: Overstock Faces SEC Probe, Details Short-Selling Lawsuit”
The Naked Truth on Illegal Shorting
Karl Thiel
The Motley Fool cited by RGM Communications via Wayback, 24 March 2005
It’s amazing how the word “naked” can liven up a discussion. Take naked short selling, for instance. The addition of this saucy little word turns the mundane act of borrowing and selling shares of stock in hopes of buying them back later at a lower price into a raging controversy fraught with conspiracy, secret identities, public recriminations, foreign intrigue, sports team owners, and now some of the top regulators in the land.
How can one word cause so much trouble? While legal short sellers must borrow the shares they sell, naked short sellers sell shares of stock they haven’t borrowed, have no intention of borrowing, and that may not even exist. Not surprisingly, this activity is illegal and has been since the Securities and Exchange Act of 1934. But for a number of reasons, regulators have overlooked it in the past.
Man beats cancer, rides across country to beat it some more
Ronda Sluder, 20 December 2001
It’s been nine years since Patrick Byrne has been to South Lake Tahoe.
Unlike a typical gambling or camping trip, on this visit Byrne is just passing through. His schedule is tight. He needs to travel 4,000 miles on his bike to meet the Pan-Massachusetts Challenge and raise money for a cause all too familiar to him. Continue reading “Article: Man beats cancer, rides across country to beat it some more”
Nicholas Stein, 07 February 2000
How many Internet CEOs spend their adolescence learning allegorical life lessons from Warren Buffett? And how many then go on to follow his advice? Patrick Byrne, CEO of Overstock.com, a Salt Lake City company that sells excess inventory of items such as clothing and consumer electronics at deep discounts, has done both. Continue reading “Article: The Renaissance Man of E-Commerce Patrick Byrne has done more in his 37 years than most do in a lifetime. Will that make his company, Overstock.com, a success?”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
