Saturday, September 20, 2008

Message to "Mack The Knife"

I posted the other day about the hypocritical display of sour grapes by John Mack of Morgan Stanley. He was telling his firm that everything was fine and that his company was the subject of a bear raid by unscrupulous short sellers.

Here is an excerpt from Barry Ritholz's interview on Friday:

Morgan Stanley and Goldman Sachs are screaming about short selling now. I can tell you from anecdotal stories and actual data that when Bear Stearns was going down, the two biggest shorting houses of the stock were Goldman Sachs and Morgan Stanley.

The hypocrisy is just mind boggling.


About Me

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.