News for hackers. Stuff that matters.
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by mc32 on Wednesday March 04, 2015 @11:36AM (#9145414)
Yeah this is pretty great. Good work and good result. My only caveat would be unscrupulous people spreading unfounded rumors or uninformed opinions passing as fact which could result in innocent companies suffering from lack or rigor on the did of citizen investigators. At least it appears sixty minutes did son of their own investigation --althouh I imagine they went in with guilt in mind, which worked out in this case, but can result in different outcomes in other cases.
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by hga on Wednesday March 04, 2015 @12:27PM (#9145805)
From The Fine Article:

"When Zhou began looking into the Toano, Virginia-based company back in 2013, he says he found online complaints about its Chinese-made flooring. So he bought products from Lumber Liquidators and paid to have them analyzed. The results led him to publish a post on investing website Seeking Alpha on June 20, 2013, that advocated shorting the stock because the tests showed levels of formaldehyde above California requirements."

So while others might indeed lie, we seem to have enough confirmation from the subsequent investigations that Zhou did not. And there was no reason to believe he lied, this is a target rich environment after all.

And while 60 Minutes is entirely untrustworthy (I've watched them lying on the air for decades, since the '70s), likely would have started with "guilt in mind", in this case they chose a worthy target.

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by shiven on Wednesday March 04, 2015 @02:53PM (#9146880)
And while 60 Minutes is entirely untrustworthy ...

Wait, what? Any proof for that statement? How come they are still on air? Why wasn't their parent broadcaster sued out of existence, if what you claim is true?

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by fnordfnordfnord on Wednesday March 04, 2015 @03:07PM (#9146960)
Benghazi coverage, the Bush National Guard story coverage, their NSA/Snowden fluff piece, etc. It's not hard to find credible criticism of 60 Minutes, even if you can't tell just by watching it.

http://www.cjr.org/behind_the_news/60_minutes_bad_run.php

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by res0nat0r on Wednesday March 04, 2015 @04:17PM (#9147419)
Lara Logan was suspended from the show for months after airing her report, and the show issued an on air retraction and apology about that story after it broke that the main person they interviewed for the piece was lying.
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by pbreit on Wednesday March 04, 2015 @03:53PM (#9147256)
But "entirely untrustworthy" is quite a stretch.
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by erobbins on Wednesday March 04, 2015 @03:07PM (#9146959)
The first one that comes to mind was their fraudulent reporting about the audi 5000 and "sudden acceleration" in the 80s. Their lies almost destroyed an entire company.

http://en.wikipedia.org/wiki/Audi_100#Reported_sudden_uninte...

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by hga on Wednesday March 04, 2015 @03:55PM (#9147274)
And before that, in 1980, a hatchet job on the Jeep, must have been the CJ-7 both because of the date and how difficult it was for them to roll it, even using robot drivers that manipulated the steering wheel twice as fast as a human can while gunning the engine.

There was plenty of less overt stuff in the '70s. Then you might mosey through this list, which only has the worst of the worst: https://en.wikipedia.org/wiki/60_Minutes#Controversies

Per that, it took 15 years for Audi sales to recover.

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by pbhjpbhj on Wednesday March 04, 2015 @05:09PM (#9147715)
It would be interesting to see if anyone associated with the show has made money of this - surely if you know, a week or two before it airs, of a piece that's going to destroy the reputation of a company then you can trade on that to great effect.
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by jordan0day on Wednesday March 04, 2015 @11:50AM (#9145533)
On the one hand, I'd love to believe that people were rational and would actually examine the data before rushing to follow some advice they got on a site like seeking alpha, so that bad actors wouldn't be able to profit by spreading false accusations. Not having to rely on a drawn-out (and sometimes unreliable) legal process would be great.

On the other hand, we have plenty of evidence that people are really bad at being suspicious of the often unreliable stuff they read on the internet. For example, measles has made a roaring comeback in the USA, so even when their own children's health is involved, it seems people aren't willing to actually read farther than a couple of emotionally-charged blog posts before making decisions.

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by fnordfnordfnord on Wednesday March 04, 2015 @12:21PM (#9145764)
The trend in measles cases is troubling, but to call it a "roaring" comeback is hyperbole.

http://www.vox.com/2015/1/29/7929791/measles-outbreak-2014

tl;dr Measles was imported to a group of unvaccinated Amish by a resident returning from a missionary trip. The Amish accounted for a large portion of those infected in the US. The good news is that many Amish opted to take the vaccine after seeing the effect of measles in their community.

Here is an older article (2024)

http://www.nytimes.com/2014/05/30/health/measles-cases-in-us...

A few snippets from the article.

  * There were fewer than 200 cases last year (2013); the record low was 37 cases in 2004.
  * Eighty-five percent of this year’s cases were in people not vaccinated because of religious, philosophical or personal objections, Dr. Schuchat said.
  * Almost half the cases were part of a continuing outbreak in Amish communities in Ohio 
  * In an unusual twist, over half were ages 20 or older. They may have included adults whose parents refused to vaccinate them years ago, she said.
  * Forty-three of the 288 who contracted the virus were hospitalized, most with pneumonia. None died.
  * There were 60 cases in California, mostly in the San Francisco Bay Area and in Orange County, where large numbers of wealthy parents refuse to vaccinate their children.
And to put it in perspective

* France, the world’s most popular tourist destination, had an outbreak of 20,000 cases from 2008 to 2011.

The 2014 CDC MMWR report if you want

http://www.cdc.gov/mmwr/preview/mmwrhtml/mm6322a4.htm?s_cid=...

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by joezydeco on Wednesday March 04, 2015 @01:01PM (#9146059)
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by burger_moon on Wednesday March 04, 2015 @01:35PM (#9146307)
Without fact finding you end up with results like this http://en.wikipedia.org/wiki/Jonathan_Lebed

Kid used message boards to pump and dump stocks until the SEC intervened.

Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by nosuchthing on Wednesday March 04, 2015 @04:02PM (#9147320)
Recent similar story of kid with penny stocks and internet hype: http://www.theverge.com/2014/12/3/7319277/whiz-kid-penny-sto...
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by Rainymood on Wednesday March 04, 2015 @11:51AM (#9145540)
Wasn't there this russian guy who did this with bio-tech companies? Spread some rumors and used them to make profitable stock trades. I can recall him being hired by some american/foreign hedge fund after ...
Re:How a 25-Year-Old Investor Spurred Lumber Liquidators’ Pl... by Potando on Wednesday March 04, 2015 @11:56PM (#9149323)
Further investigation would show it's OK. The main losers would be the investors who believed the false information. So that's not a problem.