Saturday, August 19, 2006

Chris Carey (Editor, Responds to Strange Culture

Chris Carey is the editor of, the Mark Cuban related financial "journalism" site mentioned in my recent post: Mark Cuban Supports Slinging Mud For Money.

Former St. Louis Dispatch Reporter Chris Carey responded to my posting via e-mail saying:

The only quibble I have is with this paragraph:

"Mark Cuban will short stocks prior to the publication of reports on shareslueth website. Then when the stock price falls he will make piles of money."

I think it should say "if" the stock price falls, because there is no guarantee that our reports will have a negative impact on the stocks we write about

And he won't be shorting the stock of every company we write about.

Also, Mark has said that he won't trade in and out of the market to capitalize on short- term price swings, but rather will hold his position until there's a material change at the company. That means he's expecting a sustained, long-term decline in the stock price -- the sort of thing that verifies our reporting.

I thought this was interesting, and so here's my correction...

IF stock prices fall Mark Cuban will make piles of Money.

Thanks Chris for you your clarifications.

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