Thursday, October 04, 2007

Owner Mark Cuban Trades Stocks on's Advance Info

I read (well, used to read) Mark Cuban's blog. He had a bunch of interesting insights into the NBA, like discussing refereeing, the business of it all, etc. But a while back he stopped writing about that, and it's been dull. Except for a couple of posts about his shorting of certain stocks.

Wired has an article (Owner Mark Cuban Trades Stocks on's Advance Info) on Mark Cuban's company/website that basically does investigations into companies that are over-valued, at which point Mark Cuban shorts the stock, and publishes the information on the web site. It's only done a couple of reports, but many people are fired up over the idea of a company doing investigative reporting solely for the purposes of shorting stock shares.

My two cents on it all... good for Mark. Nobody else is doing critical investigations of companies. You have Enron and all sorts of other accounting scandals that are bilking share holders of tons of money (not to mention the impact of high energy costs in California due to Enron) happening. Where's the traditional media? Hyping up the corporate sound bites w/no critical thinking (exactly the same as it does for the Bush sound bites).

I hope does well finding companies that are just smoke and mirrors. As long as it continues to do reporting based on legally sound investigative practices, I'm all for it. Plus, Mark is totally up front on what is happening - he looks for bad companies and tells the world about it. He's not hiding anything, it's the companies that are hiding things.

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