I was unpleasantly surprised over the weekend to see that once again Yahoo (NASDAQ:YHOO), which claims to be a credible and relevant news and search engine, appears to be complicit in the bidding of one of the most vile financial companies (in my humble opinion) known to investors. I am talking about Jim Cramer’s own “Thestreet.com.” As we have seen over the course of this past year, any time specific companies gain headwind, in this case Sirius XM Radio, old or simply negative press items conveniently get recirculated from the same conspicuous sources. This categorically fits what former hedge fund manager Jim Cramer himself has called “fomenting” to elicit a specific market response.
Any way you look at it, it is unethical to release old or tailored news at critical points in a company’s history to affect a specific stock reaction. Those who have followed Sirius XM Radio recognize this technique all too well. When the source of these “bash” articles are timed closely with specific events to damage a company, and that same source has historic ties with the hedge funds that benefit from a downturn in the company’s stock (while your average retail investor will watch his investment suffer), experienced investors will tell you there is no coincidence.
Recent news about TSCM suggests that not only are they a shady source of news with no credibility, but perhaps also involved in manipulative practices with certain stocks on the markets. There are also strong questions about their accounting methods. Certainly they are the kings of negativity as far as Sirius XM Radio (NASDAQ:SIRI) shareholders are concerned, continually hammering the company at every turn. Their video from early last week somehow was picked up again by Yahoo only yesterday in time for a nice Sunday bashfest. We wouldn’t want investors who were busy during the week to have to search for negativity, would we? Once again, Yahoo, without validating their news content, makes certain that it is sitting in plain sight on their financial Sirius XM Radio page with a nice link.
The story doesn’t end with Sirius XM Radio, however, not by a long shot. The Street was also named by Overstock.com (NASDAQ: OSTK) CEO Dr. Patrick Byrne several years ago as a practicing manipulator of equities, and Jim Cramer was outed in many ways by the Overstock CEO’s fight against Wall Street manipulation. In fact, an entire website, Deepcapture.com (http://www.deepcapture.com/), sprung from that investigative masterpiece of reporting and I applaud Judd Bagley and others who really dug deep. Reading at that site is like reading a who’s who of miscreants on Wall Street.
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