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In a perverse way, I actually feel sorry for Mr. Bezek, the blogger who has been posting shoddily researched short articles on companies such as YONG and RST. If we take him at his word that he's not actually taking positions on YONG, then what is he gaining? Some have suggested that he has some nefarious backer, but that seems unlikely because the backer would surely be revealed if there ever is any probe or lawsuit against Mr. Bezek.

I believe that he is writing these articles as a "job interview" of sorts--either for a hedge fund, for some sort of financial media organization, or for some sort of website startup of his own. This fits with his profile as a recent college graduate trying to kick off his career. Not a bad idea in a vacuum.

The problem is that he is not as bright as he thinks he is. First, his write-ups are not nearly as well-researched as they need to be--his misunderstanding of "branded" versus "company operated" stores is one example. His obvious failure to contact the companies prior to publication is another. Prospective employers will likely do sufficient due diligence to identify the errors in his analysis before hiring him, meaning that he will not get hired.

The other problem is that his recklessness in publishing (possible) falsehoods could get him in real trouble from the SEC or through lawsuit. In the best case scenario that blacklists him from getting the jobs that he is (presumably) seeking.

But therein lies the problem with being dumb* and naive--he doesn't know what he doesn't know, and what he doesn't know could really hurt him.

Just my two cents,
-Sean

*"dumb" is a relative term. I suspect that Mr. Bezek is actually smarter than the average person. He's just not as bright as he needs to be to do the things that he is trying to do.
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