All good things are worth waiting for?
We interrupt our regular troll through the filings to talk about an interview I did on Friday morning with Mark Cuban, who presumably needs no introduction, but whose background can be found here. While the focus of the interview was on the upheaval in the newspaper industry — Cuban had been rumored to be the secret source for this story in Vanity Fair last month — I couldn’t help but ask Cuban about Sharesleuth, a site that has something in common with footnoted.org in that it digs through SEC filings, but which adds a layer of investigative reporting that I just don’t have the time to do.
The site, which so far has focused on exactly two stocks, has also generated more than a fair bit of controversy because Cuban has said that he shorts the stocks before the investigation is posted on the Sharesleuth site. Some of the harshest criticism has come from Gary Weiss, a former BusinessWeek reporter who now writes a regular column for Forbes as well as a blog here.
On Friday, Cuban said he’s happy with how Sharesleuth is doing, particularly in terms of the short positions he’s taken. “The positions I took (presumably Utek (UTK) and Xenathol (XNL)) I haven’t covered. And there’s plenty of more companies to look at.” Both stocks have turned out to be good short opportunities, based on this chart. Cuban also said that there were plenty of recently laid-off business journalists who might start helping out on Sharesleuth one day soon, which should help Sharehsleuth post a bit more frequently, since it’s last post was nearly two months ago.
For more on my interview with Cuban, you’ll just have to wait until the May issue of Worth.