The CEO Of Overstock.com Took Out A Full Page Ad In The Wall Street Journal Mocking Steven Cohen

July 28, 2013 Leave a comment

The CEO Of Overstock.com Took Out A Full Page Ad In The Wall Street Journal Mocking Steven Cohen

LINETTE LOPEZ JUL. 27, 2013, 11:56 AM 8,734 14

screen shot 2013-07-27 at 11.36.20 am

Overstock.com CEO Patrick Byrne took out a full-page ad in this morning’s Wall Street Journal shredding billionaire Steven Cohen for his hedge fund’s indictment by a Federal Grand Jury earlier this week. The firm, SAC Capital, has been charged with insider trading. Byrne’s animosity didn’t come out of nowhere — on a 20o5 conference call the CEO of Overstock.com said that “Sith Lords” were naked short-selling his stock and destroying the company. He later identified them to be SAC’s Steve Cohen and Michael Milken. And indeed, last year a bunch of lawyers for major banks accidentally leaked emails describing how they allegedly short-sold the stock and leaked techniques to hedge fund clients. Now that you know where all the hate comes from, check out the ad below (via Instagram: ognjenglisic) “Congratulations on the indictment, Stevie, and remember: roll early, roll often. You friend Patrick M. Byrne, CEO of Overstock.com,” it reads. Major schadenfreude.

Filed under Life

About bambooinnovator
Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

Leave a Reply

Fill in your details below or click an icon to log in:

Gravatar
WordPress.com Logo

You are commenting using your WordPress.com account. ( Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. ( Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. ( Log Out /  Change )

Cancel

Connecting to %s

%d bloggers like this: