Overstock.com CEO Patrick Byrne took out a full page ad in this morning’s Wall Street Journal shredding billionaire Steven Cohen for his hedge fund’s indictment by a Federal Grand Jury earlier this week.
Byrne’s animosity didn’t come out of nowhere — back in 2010 the CEO of Overstock.com said that ‘Sith Lords’ Michael Milken and SAC Capital’s Steve Cohen were naked short-selling his stock and destroying the company.
And indeed, last year a bunch of lawyers for major banks accidentally leaked e-mails describing how they allegedly short-sold the stock and leaked techniques to hedge fund clients.
Now that you know where all the hate comes from, check out the ad below (via Instagram: ognjenglisic)
“Congratulations on the indictment, Stevie, and remember: roll early, roll often. You friend Patrick M. Byrne, CEO of Overstock.com,” it reads. Major schadenfreude.
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