I’m beginning to wonder if it’s time to start feeling sorry for Patrick Byrne, the Overstock (NASDAQ:OSTK) CEO whose comments at times, such as Tuesday's, appear to be detached from any sense of reality.
Speaking on the Fox Business Channel to my friend Liz Claman, he said:
I think that there’s been an unhealthy collusion developed between certain short sellers and certain journalists. They center around your competitor, CNBC. I happen to know for a fact that there’s a fax machine in the CNBC offices where every morning hedge machines, I mean hedge funds send instructions and journalists sit around and take instructions.
Liz quickly responded:
Well I worked in CNBC and I never saw that fax machine.
Of course she didn’t, because there is no such fax machine!
Byrne, you may recall, made similar allegations against Gradient Analytics, which recently filed a counter-suit to Overstock, alleging libel.
What’s next, black helicopters?
The beat goes on….