On February 20, 2002, I launched the predecessor to this investor forum. In that incarnation, it was named the “MSN Berkshire Hathaway Shareholder’s Board”. Originally created as a gathering place for myself and a few friends from Omaha, it attracted a small group of shareholder’s in another insurance company called Fairfax Financial.
In December 2002, Fairfax listed on the NYSE, where within a month it had been targeted by short-sellers in a coordinated attack. A flood of Fairfax shareholders joined the investor forum, as there was a limited amount of information available about the company, as a cabal of analysts, journalists and hedge fund managers started disseminating both accurate and inaccurate information.
Shortly thereafter, we contacted the company to inform them that a number of shareholders felt that there was a coordinated attack being perpetrated against the company, preying on recent vulnerabilities from insurance losses and troubled acquisitions. That there were anonymous message board posters on various sites, including this one, who were discussing company issues and indicating a specific new tactic would be taken very soon in the attack against the company. Within a day or two, the new attacks against Fairfax would become apparent, and either the poster was part of the cabal, or had information related to it.
In July 2006, Fairfax filed a massive lawsuit against the alleged cabal, which included one SAC Capital and its notorious founder Steve Cohen. The very same Steve Cohen who was subsequently indicted by the U.S. attorney general, alleging a massive cultural deficiency at SAC Capital, where Steve Cohen purportedly ignored blatant acts of insider trading.
In a sense, the illegal activiti