Junk Food for Thought

Back in the late 90’s when the dissemination of information was a little different than the vortex we now spin around in everyday, Herb Greenberg was probably the man most feared by long managers on the street. The CFRA’s Howard Schilit was certainly a close second.

Herb effectively used his bully pulpit at thestreet.com to lay waste to pretty much anything he put his mind to. If Herb hit a position of yours with his hatchet, you were looking a bad day and months of hand-to-hand combat with the shorts. Of course, Herb now writes for MarketWatch.com.

He just does not carry the same impact that he used to...although we still enjoy keeping tabs on the Herbinator.

Herb is ranting today about about what would appear to be a case of front running an analyst move in the shares of Krispy Kreme. 

Now hear this: An hour-and-a-half after the close a report by Prudential Equity Group analyst Howard Penney hit First Call with his initiation of coverage with an overweight rating and a 12-to-18 month target of $15. The report, dated Thursday, uses Thursday’s closing price. Never mind that in a market like this a report like that can set a fire under a stock, even if it’s undeserving. (And I’m not saying it is or isn’t—or if a recommendation of a company like Krispy Kreme is yet another sign of a toppy market.) A bigger question here, your honor—as the headline on this post said—is who knew what when? Something tells me we will find out.

Yawn...It must be a slow news day on the west coast.  Chill out and enjoy the weekend Herb.

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