FireWeatherMet
Well-known member
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http://blogmaverick.com/2015/03/04/why-this-tech-bubble-is-worse-than-the-tech-bubble-of-2000/
After reading the headline the other day that Mark Cuban says Why This Tech Bubble is Worse Than The Tech Bubble of 2000 I thought (and probably 99% of most people)
"Aw man!! Time to sell and go away for a couple of weeks, months or even years."
After all that's basically what the prudent course of action would have been from early 2000 thru, well at least thru early 2003. 36 months!
However, while being interviewed by CNBC on his claim, Cuban's main point was that there was a lot of investor $$ in companies that were private rather than public, and that in a downturn people cannot get their money out like they can in public companies (via stock).
HOWEVER...the CNBC guy then started grilling Cuban a little harder, saying that "this is not anything like the tech bubble of 2000" and that things might actually be safer now at this point than 2000. At this point...Cuban back-peddles and says "Oh yeah I never said that in the public market (where stocks exist) that there's a bubble".
HUH????
So Mark Cuban goes from blogging a headline that says "Why This Tech Bubble is Worse Than the Tech Bubble of 2000"..amd in the first few sentences reminds everyone how much stocks dropped back in 2000...to now saying that he wasn't really talking about stocks at all.
HUH????
Technically Cuban is correct in that way down his blog he quietly says that. BUT in the first few paragraphs (see top of post) he specifically talks about stocks and how far stocks fell back then, right after his 5-Alarm Fire headline that our current bubble is worse. Grossly misleading???? Bigtime!
So the big question....With Cubans bizarre exaggeration and misleading story coming right at a new high in the Nasdaq, was Cuban doing a "reverse pump and dump"??? Getting into a short position and then helping fuel a huge selloff by coming out with this blog headline that, because of it coming from Mark Cuban, went right to all the financial news headlinse, seen by hundreds of millions of investors worldwide. Coming out with such negative headline news at a new market high after a prolonged sharp run-up was too perfect of a timing IMHO.
You can hear down below (after the 30 second ad) how at about the 4 minute mark onward the CNBC anchor really questions Cubans comparison to 2000 regarding a stock crash and Cuban finally is forced to back-peddle by saying that's not what he meant.
[video]http://video.cnbc.com/gallery/?video=3000359584[/video]
On short selling...Cuban is very outspoken about it. He says he likes it. Cuban, taken from his own blog:
“I short stocks. I make money shorting stocks."
This was found on the link below...which links back directly to Cubans blog. BUT when you click that 2nd link, it goes to Cubans blog but says that link no longer exists.
Hmmmmmmmmm.....:suspicious:
Mark Cuban on Short Selling | Original Turtle Trading Rules and Stories from TurtleTrader® and Michael Covel
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