Sharesleuth.com Reports on UTEK Corp. October 26, 2006Posted by Unreasonable in Matters Financial.
Mark Cuban made $600,000 on his UTEK short today:
Cuban teamed up with Christopher Carey to form Sharesleuth. They investigate small companies with questionable business practices. Before they publish the results of the investigation, Cuban takes a position in the company. In this case he sold 75,000 shares short at about $20.
We’re looking for companies that were built for fraud, for executives who are enriching themselves at shareholder expense, and for businesses whose behavior runs counter to their stated objectives or to the public interest.
They’re like superheros for the investing world, except when they stop a robbery, they keep half of the loot for themselves. More power to them.