[bungaboy]

Interesting read. Karma works. Kinda reminds me about Prem.

OVERSTOCK.COM CEO: Steve Cohen Is Directly Responsible For Corruption That Has Cost Hundreds Of Thousands Of People Their Jobs
Business Insider

July-28-13 3:51 PM GMT

Overstock.com CEO Patrick Byrne colorfully explained in his own words why he took out a full page ad in the Wall Street Journal mocking SAC Capital's Steve Cohen yesterday.

"Cohen's life work is being destroyed," he wrote in a note to Business Insider, "I feel good. Shooting SAC Capital dead and throwing all of its employees into the streets is simply civilization scraping some dog--- off its shoe. I felt it was time I spent $100k on a derisive ad in order to say that."
A Federal Grand Jury indicted SAC Capital on charges of insider trading this week after years of investigation.

Meanwhile, since 2005 Byrne has been saying that powerful market actors have been working to destroy his company. In 2010 he identified them as Michael Milken and SAC's Steven Cohen.

Two years later, e-mails accidentally leaked by lawyers representing a number of Wall Street banks described how the banks were allegedly naked short-selling Overstock.com stock and advising their hedge fund clients on how to do the same.

SAC Capital, as you know, is one massive hedge fund client.

"Eight years ago I was roundly criticized by coming out publicly and saying, in brief: A network of dirty hedge funds were practicing all kinds of dicey practices, including insider trading and naked short selling (and being serial killers of firms in the process)," Byrne wrote. "The SEC was not doing its job protecting our markets because it is a captured regulator, and this combination was destabilizing the system."

He continued: "Also that the mastermind, the Napoleon of crime, so to speak, was someone I initially identified as the "Sith Lord" of all that was evil and wrong on Wall Street. In the months after, I gradually dropped broader and broader public hints that I was talking about Stevie Cohen. Of course, through all of this my claims were spun, ridiculed, and mocked."

If the documents leaked by bank lawyers are any indication, Overstock was not only being ridiculed by the media, but also by insiders at Wall Street banks. Naked short selling (or "failing" a stock) is the practice of shorting a stock that has never actually been borrowed. It's illegal, in part, because creates fake supply of a stock, and in 2005 and 2006 Overstock.com claims naked short-selling created six times the actual supply of its stock in the market.

Someone might choose to naked short sell a stock when the stock is a negative rebate stock — too expensive to borrow. That's why it sounded so damning when the e-mails leaked from banks said things like this:

"We are NOT borrowing negatives... I have made that clear from the beginning. Why would we want to borrow them? We want to fail them," said one Merrill exec.

Now that you're clear on that, this portion of Byrne's note will make more sense (emphasis ours):

"Cohen is directly responsible for corruption in our capital markets that has cost hundreds of thousands, maybe millions of people, their jobs," he said. "Now SAC has been indicted, and Cohen's life work is being destroyed, I feel good: Shooting SAC Capital dead and throwing all of its employees into the streets is simply civilization scraping some dogs--- off its shoe. I felt it was time I spent $100k on a derisive ad in order to say that."

"Besides," Byrne added, "if you're not going to kick a man when he's down, when are you going to kick him?"

So that explains that, then.

[Gesig Boek]

Looks like Nokia may not be happy with MSFT. One thing BB has been doing well is the constant push at adding features. 10.2 will bring a plethora of new things.

I've been saying that Nokia + BB10 would be winners. Make it happen!

Nokia left frustrated by Microsoft's slow Windows Phone progress | The Verge

Actually I think the complaint is that Microsoft is not opening their purse strings enough to secure all the major apps. Thats what the original source interview implied.

[Compaqee]

Too many posts to read.....you all have been very busy this weekend huh?

Will catch up throughout the day - awesome discussions though!

[sidhuk]

LoL now what?
BlackBerry 10 Can Run iOS Apps Using iOS App Player | The Gadget Masters

[bungaboy]

Saw this headline and it kinda reminded me of activities in here over the last month.

Iraq hit by wave of coordinated bombing attacks

[leafs123]

LoL now what?
BlackBerry 10 Can Run iOS Apps Using iOS App Player | The Gadget Masters

They have it wrong, it is not an iOS app player. Just iOS code updated to work on BB10. Poor reporting.

[grunt0300]

It's only been a brief time I've come to know you through these forums LCJR, but let me say thanks - for your positivity, daily contributions but more importantly your service in the military, as well as your brother in arms.

I'm Canadian, but that doesn't diminish the appreciation I have for the efforts made by our allies. I truly, from the bottom of my heart thank all those who sacrifice their safety and well-being to protect our homes. Not to mention what their families go through as well when your off on duty.

Please stick around, with or without your shares.

Keep your chin held high and know that you are appreciated!

Cheers

Had a Canadian in my unit, in Vietnam. Good man, who told us that he wanted to do his "bit". Wish we had more like him. Semper Fi.

[bbmotion]

wtf wrong with out sp today?

[slipstream89]

there are plenty like that but the US armed forces only intake a certain amount of canadians every year without having a green card

Had a Canadian in my unit, in Vietnam. Good man, who told us that he wanted to do his "bit". Wish we had more like him. Semper Fi.

[kellyweng88]

this is depressing to see

[Gesig Boek]

wtf wrong with out sp today?

Maybe the sellers actually read the new Kantar report.

[OMGitworks]

The USA perception.

had poker last night with 8 friends in Connecticut. One person recognized the phone. At the end of the night I was adding a new players e-mail to the poker list when the e-mail address I had typed wrong just totally deleted itself. No one saw it happen but i just kinda say "oh, that shouldn't happen". Then someone said something about it being a Blackberry and everyone laughed. That is the USA perception. It doesn't work.... It's buggy ... etc

They need to fix this issue along with the app gap ASAP. They can get the consumer back but they are approaching it entirely wrong. Advertising won't do anything for them if there are no apps. So, there is the answer to the chicken and the egg. Will sales come before apps or will sales come after apps? The answer is after. No consumer is going to go after apps even though the OS is awesome.

Worse for me. Driving to a country wedding this weekend when my Garmin GPS died. No problem I asked my son to grab my blackberry and go to maps. He laughed. He asked me the address and literally in a minute had his iPhone (which was already paired to my bluetooth in the BMW) and it was giving me verbal turn by turn directions over my stereo.... I am not sure if the z10 could have done that and I am sure his user skills are far beyond mine, but the speed and ease in which he did it was pretty impressive......... Needless to say he mocked my z10 for a few miles as we continued on down the road.

[JLagoon]

The stock is right on the bottom parallel line now:

[bungaboy]

10:30 . . . . . . right on time.

[slipstream89]

some idea on india
We are not in trouble: BlackBerry India MD Sunil Lalvani - Indian Express

[bbmotion]

the more I look at the more I just wanted to give up. Looks like there no hope at all. it's been down since er. Should have sold my all the shares when CM giving up his bbry.

[sidhuk]

The stock is right on the bottom parallel line now:

Feels like a good entry point?

[leafs123]

Estimates for the next 7 quarters. I find it interesting that they are expecting almost the same EPS in 2015. Thoughts?

Next ER in Sept is highlighted in grey with the corresponding info below.

[bbmotion]

Feels like a good entry point?

Good Luck

[rebekahlynnharrison]

On days like today, I'm so glad I have part pitbull in me lol. Cause I've
been down this road before (like 80% down) with another stock and live to see a stock come back to
about a break even. So I'm holding! Final Answer!

[difabs]

Man oh man, good discussion you guys got into over the weekend. Kinda upset I missed it. Morgan it is great to see you back and in full form - always love hearing what you have to say. Can't say I am fully caught up as its been almost a week away from the thread but I am going to try and catch up this week before my vacation!

Len, can't help but feel sorry for you. Sending as many well wishes your way and hoping that you are able to grieve as you need to.

[bungaboy]

Finally dump 4000 shares before close at break even. Another 4000 stand by for tomorrow then I am done. It is very depressing to see the way this stock goes.

the more I look at the more I just wanted to give up. Looks like there no hope at all. it's been down since er. Should have sold my all the shares when CM giving up his bbry.

I thought you got out back in May. Did you get back in?

[Bugmapper]

My deepest sympathies LC.

I can't even begin to understand what you folks go through at times like this.

[jxnb]

Hey, Superfly --

Wow.... You have a great rhythm section. You and the bass are locked TIGHT and funky in the best way! Can't help but dance. Thanks for putting this mix out there!

So you help keep us sorted out on this thread and you keep Paffys rock solid. We're lucky.

Now, I just need to figure out how to preserve those nerves for the long road....

Thanks jxnb,
recording session was a great moment, we're learning (not a live recording but track by track) and we liked it !
So far, this is not the final edit/mix ... but there's a demo here : https://soundcloud.com/supairfly/fau...aisser-faire-1

Funny enough, this song could be addressed to Heins and his team :
"Show resistance" may be a translation of the title ...

"I'll wait as long as necessary
But above all, do not let you do
You did not get lost on a dead end
Preserve your nerves because the road is long"

P.S: this was not written about BBRY specifically ...

[plasmid_boy]

He asked me the address and literally in a minute had his iPhone (which was already paired to my bluetooth in the BMW) and it was giving me verbal turn by turn directions over my stereo.... I am not sure if the z10 could have done that and I am sure his user skills are far beyond mine, but the speed and ease in which he did it was pretty impressive......... Needless to say he mocked my z10 for a few miles as we continued on down the road.

Bluetooth pairing is pretty basic and I found no difference between pairing an iphone and Z10. But the native map on Z10 is better (IMO) than Apple map in accuracy and the BB map has live traffic updates. The Apple map had better graphics and better POIs. I now use the Z10 for GPS exclusively (instead of my on board head unit and Garmin), but I use Mireo when travel out of the US.