When I die, I want to Come Back As Me

by Dual Income No Kids on December 17, 2008 · 0 comments

Hi All,

In case you haven’t heard of Mark Cuban, he’s a maverick billionaire living in Dallas and he’s my new hero. Why do I like this guy? A ton of reasons…

He’s a great entrepreneur. He got a start selling software in the 1990s. When the internet hit it big, his company Broadcast.com was acquired by yahoo for billions. He’s since diversified and has purchased a string of movie theatres, the Dallas Mavericks basketball team and a number of media companies. Forbes says he’s worth nearly 3 billion. Its all on Wikipedia

Second, he’s got a blog. Obviously he’s cool.

Third, Cuban’s promotion free markets and muckraking is quite refreshing. His blog has highlighted a ton of good stuff about the Securities and Exchange Commission including; porn use by SEC employees, lack of internal controls preventing insider trading by SEC employees and evidence that the SEC engaged in a retaliatory investigation of a company reporting insider trading (here). Given that the disgraced ponzi scammer Bernie Madoff was an SEC advisor, none of this is surprising.

Fourth, Cuban is the owner of sharesleuth.com. The story with sharesleuth is Cuban hired a couple of investigative journalists to research companies that were potentially fraudulent. Once they do find a company, Cuban sells the stock short, and then releases the information on the web.

Sound problematic? Most private crime fighting is. But seriously, check out some of the companies they’ve investigated. One is called Energy Exploration International. Cuban’s reporters went by the place and found the joint was totally empty – in the middle of the day. They also revealed EEI’s shares were being marketed out of a phone bank in Asia, all classic signs of a scam. Check it out the highly suspicious video here.

He’s great.

The title of this posting is from a Cuban interview with Techcrunch.



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