Comments on: 60 Minutes – Is the Stock Market Rigged ? http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/ the mark cuban weblog Thu, 31 May 2012 20:17:13 +0000 hourly 1 http://wordpress.com/ By: Jordan Whistler http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14805 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14805 Hello there. Didn’t see the 60 mins special you refer to, but I just saw you on C-SPAN; I recently finished B school and heard in you a lot of thoughts I share about living and success and independence, I thought I’d check out your site. Market movements are seemingly always being overanalyzed, and cause/effects being explored, but I hold to the tried and true basics of continued excellent performance being the best indicator of future positive results. Performance can be attributed to different factors however, not necessarily solely due to a well-operated company. Shifts in demand may be caused by trends outside the company’s area of influence, or by chance. You can not applaud a construction company for putting up huge numbers when a hurricane, for instance, demolishes a city. Even a very poorly run construction company could post large profits. It is important to understand an income statement in light of the environment the company is operating in.

]]> By: Alex Krupp http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14806 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14806 Excellent post! I hope that it gets syndicated far and wide throughout the blogosphere and beyond, because it is something that needs to be heard.

]]> By: byrnefan http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14807 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14807 Patrick Byrne has never sold any of his shares. He has in fact been buying more.

]]> By: Pong32 http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14808 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14808 Not one word about Tiger Woods? He grew the PGA tour market by an order of magnatude. One person, playing golf DID that. No one in history has come close to acomplishing that kind of dominance in sport. You should know a thing or two about the inherant truth in the trend of sports records. Our society values his contribution, alone, to the world to be in the Billions.

]]> By: Ming http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14809 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14809 Always a fan of your blog Mark

Of course, research reports have more influence than sort of financial statement from the company…its called laziness…technology makes people more efficient but the downside is that it also makes people more dependant…anyway, the reason why most investors probably would rather read the research report is because its basically a summary of the company’s financials (or its perceived to be that way)…who would want to analyze financial statements when they can just look at a summary?…Im guessing thats the reason why it has so much influence

I used to be a day trader…although I was only a trader for about 2 years, it was so apparent that, most of the time, whenever a company downgraded a particular stock (NASDAQ anyway), the same company would be doing the opposite of what they recommended throughout the day…for example, if Morgan Stanley downgraded NVLS, and you are able to pull up the Level 2 for that stock, more than likely youll see Morgan Stanley buying the stock up throughout the day…when the price got too high (for their orders I suppose), they would stop…selling pressure would come and then Morgan Stanley is back again…great times trading lol

]]> By: Judd http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14810 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14810 Mark,
It’s tempting to call you a twit for taking shots at people involved in an issue that (other than making you wait an extra 15 minutes to see Tiger) doesn’t really affect you. At all.

But I won’t give in to that temptation, because I know you don’t have access to one tenth of the full story. And you won’t for a little while longer, yet.

When you do, I suppose you’ll either clam up or give Patrick Byrne and the others involved in this issue their due, in which case I’ll re-invite you to be on http://www.businessjive.com

]]> By: Bigkat http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14811 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14811 Interesting story, of course all the important parts were glossed over or omitted.

Glossed over:
1. Company only went down significantly after the company blew two earnings reports.
2. Camelback already had a negative opinion on BVF before SAC asked for the report.
3. SEC investigation of the Biovail’s accounting

Omitted: The sordid story/lie that BVF told a few years ago blaming a accident with one of their trucks for an earnings shortfall. If I remember correctly the truck was supposedly full of product that got ruined, yet when an analyst looked into it the police report indicated a much smaller cargo load. Google for the full story on that debacle, which I believe was the source of the SEC investigation.

Maybe Camelback’s research is for sale, maybe Cohen (of SAC) is the Sith Lord, and maybe I could beat Tiger Woods in a round of golf, who the f cares, but Biovail is the last company to hang one’s hat on and I agree with Mark that complaining about shorts and wasting corporate resources on imaginary conspiracies is an automatic short.

]]> By: Miller Logan, M.D. http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14812 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14812 Getting this out of the way first, Tiger Woods is the greatest.

Moving on, the question is whether a CEO has to be admirable for the company stock to be a good investment. I have some of my money in the care of Arne Alsin with Alsin Capital Investment. He recently established a position for me in Overstock.com which has appreciated 30% in the last two weeks. While I am sceptical of the management at OSTK and have read your comments on shorting the stock, I wonder if an out of control (media speaking) CEO can create value in an other wise sound company. Regarding the 60 Minutes piece, it seems to be that every party in that story is guilty of hoodwinking the average investor including the Elliot Spencer wannabe CT AG.

]]> By: George http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14813 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14813 Mark,
First time post, long time fan. I missed the 60 minutes episode but caught the end of your interview on Cspan (will watch in full at 10 PM).
My points on reseach reports:
1) All publications affect a given marketplace in some fashion. Research reports are no exception. It is simply an additional form of sensationalism.
2) The usage of impartial research reports is quite acceptable to the intelligent investor, as long as the reports are indeed impartial. S and P and Moodys are usually good for this. To imply that people should not invest if they use these is somewhat foolish

On the interview:
1) I really wish I understood what your technology businesses actually do a little better. I encounter difficulties on the technical aspects of the computer world.
2) It’s one thing to say “I sold broadcast.com to yahoo, and made Lots o’ money.” It’s another thing altogether to say, “I sold broadcast.com at a price far greater than what it was worth at the time with the benefit of hindsight.” I would bet that the decision at the time did not have such perfect information.

Either way, your achievements are great. I have benefitted greatly from your other interviews (Playboy in particular) as respects life, career, and financial planning.

]]> By: George http://blogmaverick.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14814 Mon, 28 Aug 2006 11:04:53 +0000 http://blogmaverick.wordpress.com/2006/03/26/60-minutes-is-the-stock-market-rigged/#comment-14814 Mark,
First time post, long time fan. I missed the 60 minutes episode but caught the end of your interview on Cspan (will watch in full at 10 PM).
My points on reseach reports:
1) All publications affect a given marketplace in some fashion. Research reports are no exception. It is simply an additional form of sensationalism.
2) The usage of impartial research reports is quite acceptable to the intelligent investor, as long as the reports are indeed impartial. S and P and Moodys are usually good for this. To imply that people should not invest if they use these is somewhat foolish

On the interview:
1) I really wish I understood what your technology businesses actually do a little better. I encounter difficulties on the technical aspects of the computer world.
2) It’s one thing to say “I sold broadcast.com to yahoo, and made Lots o’ money.” It’s another thing altogether to say, “I sold broadcast.com at a price far greater than what it was worth at the time with the benefit of hindsight.” I would bet that the decision at the time did not have such perfect information.

Either way, your achievements are great. I have benefitted greatly from your other interviews (Playboy in particular) as respects life, career, and financial planning.

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