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Message: RE: BETTING ON A FALL transcript on CBS

RE: BETTING ON A FALL transcript on CBS

posted on Mar 28, 2006 01:33AM
RW

I don`t feel qualified to comment on the article. After getting burned several times thinking that the system was inherently fair, I don`t rush to judgement the way I used to.

The people involved with a lot of these actions have a different moral compass than I do. I believe in being completely honest, particularly when there is a possibility that someone innocent could be affected.

In my opinion, the owners and managers of several companies that I have followed are no better in terms of disclosing all pertinent information than are the guys betting on the demise of these companies. I was profoundly affected through my displaced loyalty in Nanopierce. I learned a lesson that will not be forgotten.

A few years ago I would have thought about investing in Overstock based upon what has been published recently. I just don`t have the confidence any more to bet money on a gamble based upon that level of information. Through communications with government representatives and securities attorneys, I just don`t think they have the resources, or the motivation, to do what needs to be done to protect individual investors.

There are far too many people who believe that they can manipulate the system in their favor, without fear of consequences. At this point in time, I believe they probably don`t have too much to worry about.

Sorry... long-winded answer to a simple question.

Jeff

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