The Sith Lord revealed!

By Felix Salmon
January 13, 2010
muttering darklyabout a "Sith Lord" orchestrating a devious conspiracy of short-sellers. Well, Max Abelson has finally found out who it is, from Byrne's lieutenant Judd Bagley:


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Thousands of people have wondered over the years who on earth Overstock CEO Patrick Byrne was talking about when he started muttering darkly about a “Sith Lord” orchestrating a devious conspiracy of short-sellers. Well, Max Abelson has finally found out who it is, from Byrne’s lieutenant Judd Bagley:

The Sith Lord turns out to be Sith Lords. “It’s Steven Cohen and Mike Milken, though I’ve never said that to a reporter,” says Patrick Byrne, Overstock’s CEO.

So there you have it: one guy who makes most of his money from high-frequency algorithmic trading, and another guy who’s pretty much a full-time philanthropist at this point. But maybe those public profiles are just covers for their nefarious conspiracy!

A bit further down in the piece, Patrick Byrne flouts Regulation FD by telling Abelson that Overstock is about to report its first annual profit. I wonder which accounting firm will ratify them.

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