What Classy Pump & Dumper Dennis Gartman Can Learn From Classy Fund Manager Sy Jacobs & How To Profit From It

Posted by timothysykes on Mon 26th of May, 2008 02:44:26 PM

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Remember the time when self-proclaimed stock picking guru Dennis Gartman pumped up no-revenue-earning microcrap joke-of-a-company Converted Organics Inc. (COIN) by mentioning it alongside his other picks in Barrons? No matter that ALL his other picks were multi-billion dollar companies with actual businesses.

Well, since that pump COIN has taken a dump and in the latest Barrons article posted on The Big Picture, a smalltime fund manager who basically predicted this housing downturn shows Dennis how to behave in interviews. Here’s the paragraph that does it:

One of our themes on the long side is that local plain-vanilla, over-capitalized community banks, especially thrifts, are in a position to gain back market share in the lending business. And they have real deposit franchises they can fund themselves with. They have been losing market share to Countrywide Financials (CFC) of the world for a generation. Now though they’re going to gain a lot of that market share back, because they suddenly have a funding advantage, relative to the larger financial firms that have been securitizing the loans. That market has been discredited. We’re long lots of micro-cap ways to play this, but they’re too illiquid to mention here.

Pay special attention to the last line. Sy refuses to mention his microcap holdings because he is not a classy pump and dumper. He’s just classy.

Glad to see not everyone in this industry is corrupt / irresponsible.

PS Let’s see if you guys can figure out which microcaps Sy didn’t want to mention—they’re probly not gonna be volatile enough for my little account, but they might be some good investments considering this guy’s track record.

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