I got to thinking this week what makes short traders, hedge funds, media reporters and analysts different from whores.
According to the dictionary a whore is:
A person considered as having compromised principles for personal gain.
Huh? I think I figured it out. Each of those I called out by definition is a whore!
Now some of you make take this as an attack on freedom of speech and all is good in the world of capitalism. Well I think these people are a bunch of whores.
Let me be more direct with examples. How do you explain the Strret.com posting a week end article claiming Arena Pharmaceuticals was the "lead laggard" on the Nasdaq for 5 weeks running? It wouldn't be so bad but they incriminate themselves by identifying 4 or five stocks that had lost 10 times or more what Arena has. Could they be that stupid or perhaps they are just a bunch of whores.
During the recent Arena Earnings call results indicated a clear path to the future of their new drug, Belviq. Financial institutions were represented by "substitute analysts" which were more indicative of college interns that had no idea about Arena or it's recently approved drug. Jack Lief did a stellar job in not answering ridiculous questions aimed at giving corporate secrets away. As he turned one aside the next analyst asked the same thing. That is except for the one returning analyst from Jefferies, Thomas Wie. Tom is my favorite because it is hard for me to believe he actually remembers the number to call for the conference. His shtick is always the same. "I'm confused..., could you repeat that, I don't understand". Tom if you are the biotech analyst for Jefferies can you please try to understand something about biotech? These whores are sent for one purpose only and that is to distract from the truth.
Have a look at your friendly message boards. Filled with the aliases of names that are right in line with whores. I won't list them separately but just go to the Arena message board on Yahoo to see what I mean.
Hedge funds work directly with market makers to sell shares in 100 share lots and save them up for the institutions to buy at prices that are insanely low. In effect to steal the shares of scared longs. By definition they are a bunch of whores.
So I think you can see why I love my dictionary. It brings clarity to me on cloudy days.
Disclosure: I am long ARNA.