Article: The Naked Truth on Illegal Shorting

Article - Media

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.

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Article: Man beats cancer, rides across country to beat it some more

Article - Media, Publications

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”

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?

Article - Media, Publications

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?

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?”

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