The following is my own opinion and not the opinion of any of the news organizations, syndicates, publishers or others who distribute this "penny pumping" content. At least, not on the record.
Does anyone still buy that garbage known as "The BioTech Mailbag" that TheStreet.Com's Adam Feuerstein writes? If so, why? When was the last time anyone made any good investment decisions based on the fallacious bunk that guy publishes? Seriously!
The failed fund manager, turned writer uses it as a platform to launch personal attacks at anyone who disagrees with him or thinks that he has a personal (or financial) agenda against him.
Isn't it long time that you come clean Mr. Feuerstein?
Come out from behind the veil of constitutionally protected free speech and start taking responsibility for some of the mistakes and millions you've caused companies and investors to lose.
Let's start with the biotech stock of the year, DNDN. Didn't you warn your readers to stay away from it with every last bit of electronic ink you could find?
Now you talk about them as if you were always on the bandwagon. Sorry. You weren't.
HGSI was another. You got it wrong. Just about everyone else got it right.
You called those and countless other low-cap biotech plays that have made investors money all kinds of names in an attempt to shake weak hands.
Did you go completely out of the way to bash and drop the stock price?
For which of the following purposes?
a) To let your buddies short the stock
b) To let your buddies buy shares at suddenly discounted rates
c) To profiting from the price action yourself
d) To bask in the pleasure of simply doing it because you're a short, bald guy with an agenda who would otherwise have no power in the real world- except perhaps at some obscure town hall meeting where you might stand up and yell at someone with a softer voice.
e) all of the above.
We find it odd that you launch your attacks, almost exclusively and without fail, right after volume goes way up on a stock and just before the price per share rockets.
Random chance? Sorry. Don't buy it.
Maybe the most simple explanation is that you're in the pockets of big pharma since your favorite targets always seem to be the little biotechs that are not only shaking up the establishment, but making money (big money) for their investors along the way? Or perhaps, as one of your former co-workers told me it's all about calling attention to yourself. "They write to the short side because it's all about controversy. The more controversy the more subscriptions they sell."
I'll continue to urge readers, not to let popycock peddlers with the poorest track records on the street (literally and figuratively) fool them.
His latest targets?
Cel-Sci, BioElectronics and BioMedReports. Read the fake mailbag letters and questions here.
Cel-Sci is called a media pumped stock and "an over-and-done drug company." I guess the FDA (who just fast tracked the company's H1N1 flu treatment) is in on the whole promotional scheme? Not to mention the Wall Street Journal- who quoted the investigative work in this space. When was the last time the Wall Street Journal quoted Adam Feuerstein's work? When we called them with the same question and their answer said it all: "Adam who?"
Adam still has no clue what the science behind BioElectronics is about or why companies like Kimberly Clark have taken an interest in what he describes as "magnets embedded in a bandage to reduce pain and swelling."
Reminds me of the time one CEO said publicly, "Adam wouldn't know good science if it bit him in the ass!"
I'll never forget sitting behind Mr. Feuerstein at the recent Rodman & Renshaw conference and watching him and a sidekick intensely monitoring Level 2 trading on a laptop before attacking one of the presenters behind the podium during the time allotted for investors (not media members with their own agenda) to ask questions.
What's with the engrossing level two interest in the trading action, anyway? Perhaps that's one reason, among others, that investigative bodies like FINRA have taken an interest in his penmanship?
We rarely have the same opinion about stocks and their underlying bio-technologies. Maybe it's because we actually pick up the phone to ask questions of CEOs, patients and medical experts when we write stories and present opinions?
Yes. Mr. Feuerstein does "get it" sometimes- and yes, there are even times when he asks questions worthy of responses, but let's face it- even a broken clock is right twice a day.
Good luck to anyone who invests their hard earned cash based on the opinions of guys like Adam Feuerstein.
They'll need it.
We're all humans. We all get it wrong sometimes. But you have to wonder.
My apologies about the rant. Have your people call my people, Adam. Let's do lunch!
I'll be happy to recommend a few good journalism courses, oh and perhaps before we meet, you can have your editors put all those published stories, where you called it wrong, back up on the website?
It should be about a solid track record, after all, shouldn't it?
Disclosure: LONG on just about everything Adam suddenly bashes
With my sincere apologies in advance to the PHDs and medical experts, much smarter than I, who write in this space. Someone had to say something.
"Featured Content" profiles are meant to provide awareness of these companies to investors in the small-cap and growth equity community and should not in any way come across as a recommendation to buy, sell or hold these securities. BiomedReports is not paid or compensated by newswires to disseminate or report news and developments about publicly traded companies, but may from time to time receive compensation for advertising, data, analytics and investor relation services from various entities and firms. Full disclosures should be read in the 'About Us Section'.
Add this page to your favorite Social Bookmarking websites