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Jeremy Richards'  Instablog

Jeremy Richards
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Jeremy Richards is the Manager/Director of a private wealth fund. He has twenty years investment expertise. He left Wall Street and is much happier on Main Street.
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  • Response To Mr. Feuerstein And The Street Com Regarding Keryx And AEterna
    I write in response to Mr. Feuerstein's uninformed, inflammatory and accusatory comments which are completely without merit. It is rather sad that the street.com allows such publications by "tabloid" journalists. Firstly, I run "a" Private Fund, not the California LLC Mr.Feuerstein mentions. It is "Private" and due to moral and professional considerations, I will not discuss the specific investors and/or funds in the fund. Secondly, Mr. Feuerstein challenges that the MDs in my Keryx (NASDAQ:KERX) and AEterna-Zentaris (NASDAQ:AEZS) article are not verifiable. Had Mr. Feuerstein thoroughly read and comprehended my previous articles that he mentioned, he would have seen that a significant amount of Dr. Wurlitzer's background in my November 14, 2011 article which actually contains his name within the title. Finally, Mr. Feuerstein inaccurately alleges that stockholder names are published on Bloomberg. Mr.Feuerstein may be living in the archaic days when paper stock certificates were registered and held. In today's modern world, shares are traded electronically and are typically held in "street name" meaning they are held in the name of the brokerage house. Further, for a brokerage to disclose an individual's name and holdings to Bloomberg would be a violation of the Gramm-Leach-Bliley (GLB) act. SEC regulations require the investor (not the brokerage) disclosure when 5% or more is held. If Mr. Feuerstein does the math, an investor would need to hold over 3 times the quoted levels to meet the threshold required.

    I sincerely hope that Mr. Feuerstein can focus on true market issues and focus on facts rather than propagating false and misleading information.

    Before investors take Mr. Feuerstein seriously I would highly recommend taking a look at the following site (exposeadam.com)

    The website is devoted to providing a forum to rebut and correct the numerous one sided articles written by Adam Feuerstein on behalf of the Street.com. Adam Feuerstein has been writing for the Street.com since 2001 and is marketed as their Senior Columnist although he has never attended journalism school nor does he have any formal education in Journalism. In fact, he has NO formal science background either (he was a political science major at Emory University) and thus his credibility and objectivity as a biotech journalist must be questioned. He has been sued by biotech companies for his one sided attacks. Additionally, his inaccurate reporting has even led to patient safety issues as outlined in this article about Oculus Innovative Sciences. There have been numerous articles written about his one sided tactics and his questionable timing and release of misleading headlines that can be found here. Under the guise of being a biotech journalist, Adam frequently writes misleading headlines and articles that are widely disseminated via the Street.com's media network.

    Disclosure: I am long KERX, AEZS.

    Tags: KERX, AEZS
    Mar 06 10:59 PM | Link | 7 Comments
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