04 April 2011 by Patrick Byrne
In the summer of 2006 Whitney Tilson took me to lunch, and invited me to speak at his then-upcoming 2nd Annual Value Investing Congress on November 9 – 10, 2006. Here is Whitney’s original announcement: World’s Most Influential Value Investors to Gather This November in New York City The 2nd Annual New York Value Investing [...]
29 March 2011 by Judd Bagley
Barry Minkow’s sudden return from ex-felon to current-felon has come as a surprise to some, but not to the Deep Capture team; for we have, over nearly four years, sought to raise awareness of Minkow’s place in a much broader, criminal stock manipulation ecosystem.
29 March 2011 by Patrick Byrne
“Minkow’s manipulation of the market … caused a severe drop in the stock prices of a large local corporation. This type of deceit and abuse of trust will not be tolerated… we will investigate and prosecute stock manipulation cases to help protect the integrity of our capital markets…When false statements are disseminated to deceive the [...]
26 March 2011 by Judd Bagley
In the absence of a legitimate defense, hacks always attack the whistleblower’s mental state.
24 March 2011 by Patrick Byrne
An email Sam Antar sent on May, 2010 puked out of my junk email folder today. Note that besides addressing it to me, the board of directors of Overstock, Overstock’s president Jonathan Johnson, and our colleague Kevin Moon (who counts IR among his many duties), Sam addressed it to various staff members of the SEC [...]
17 March 2011 by Patrick Byrne
Barry Minkow spent last week in plea negotiations regarding a federal indictment on which he is hoping to receive only 5 years, says his lawyer. (LA Weekly: Barry Minkow to plead guilty to insider trading). In December, 2010, a Florida judge threw her proverbial book at Barry Minkow, and it glanced off Sam Antar, who [...]
17 March 2011 by Patrick Byrne
Today was a red-letter day for Barry Minkow and Sam Antar, who have provided DeepCapture so many Rosencrantz and Guildenstern moments. To summarize: 1) Barry Minkow turned out to be, once again, a crook. See Bloomberg: Minkow in Plea Talks With US Prosecutors Over Fraud Case, Lawyer Says, and LA Times: Barry Minkow to plead [...]
13 March 2011 by Patrick Byrne
You may remember Peter Weir’s 1998 film, The Truman Show, in which the protagonist (Jim Carrey) is enjoying what he perceives as a picture-perfect life in the idyllic town of Seahaven, but which is in fact a 24/7 TV show being broadcast globally from an enormous Hollywood sound stage. The process by which he comes [...]
28 February 2011 by Patrick Byrne
“I am really going to enjoy watching Goldman Sachs try to justify its nefarious schemes to a jury box with 12 Americans in it,’ he said.” That was Fortune Magazine quoting me on January 28, 2011, regarding the escalation of Overstock’s claims against Goldman Sachs, in an article entitled, “Nastiest CEO lashes out at Goldman”. [...]
27 December 2010 by Patrick Byrne
Point #1: Agents in a marketplace first commit to a trade, and then exchange the property rights they committed to trade. The financial jargon for the mechanism which permits this exchange of property rights is “clearing and settlement”. Point #2: In the USA there is much slop in these “clearing and settlement” mechanisms. Processes that [...]