Lack Of Disclosure At Fox Business
Reported by Ellen - July 27, 2009 -
Guest blogged by Dan
Cody Willard's column last Thursday (7/23/09) is bearish on 3M and Caterpillar stocks. Willard gives no disclosure statement as to whether he owns or holds positions in either of these stocks. Disclosure statements are common and I find it surprising that Fox does not require one. Willard also claims that he is a Professor at Seton Hall. They don't have a disclosure policy either?
Furthermore, Willard uses his Foxbusiness.com article (for which he was presumably paid by Fox) to include an advertisement for his paid subscription newsletter:
"Get my investment newsletter at http://RevolutioNewsletter.com"
$10 per month; $100 per year for Cody's bi-weekly newsletter.
Willard's predictions may be correct over time. But so far... not so much. On 7/23, CAT opened at $38.76 and rose to $41.26 or an increase of 6.73%. On Friday the 24th, CAT rose another .74 to $42.00. CAT is up 21.53% in the past month and 28.56% in the past 6 months. CAT's earnings also beat the estimates. (As of this posting, it's at $42.40) MMM opened Thursday at $66.58 and rose $2.85 (or 7.36%) to close at $69.43. On Friday MMM dropped .01 to close at $69.42. MMM is up 17.14% for the part month and up 29.61% for the last 6 months. As of this posting, it's $69.55.
