Daily Archives: May 5, 2008

How VC blogger Paul Kedrosky pumped up HedgeStreet to his gullible readers in 2006, and later failed to update them with the hard fact of its (de facto) bankruptcy. Why telling the truth to readers when its easier to tell them fairy tales?

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Paul Kedrosky was all excited, in April 2006, to tell his gullible readers that HedgeStreet received another round of funding &#8212-adding all up to $24.9 million.

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And just 18 months after Paul Kedrosky&#8217-s pronouncement, HedgeStreet (v1) ate the bullet and bellied up.

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And, of course, Paul Kedrosky has never mentioned to his readers the hard fact that those $24.9 million went up in flames &#8212-creating nothing else than hot air.

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Why bothering with reporting the truth? Let&#8217-s tell blog readers some fairy tales, instead. They swallow.

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Hey, mister the pragmatist, how come you never informed the readers of your (otherwise, very smart) blog that CFTC-regulated HedgeStreet bellied after 3 years, burning in vain $24.9 million?

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Wouldn&#8217-t that hard fact (the $24.9 million that disappeared in flames) be worthy of being cited, for the sake of &#8220-pragmatism&#8221-, on a blog written up by a &#8220-pragmatist&#8221-?

So, my good doctor, when is it that you&#8217-re going to tell the truth to your readers?

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UPDATE: See his comment, just below&#8230-

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When Chris Masse (with typo) pinches Henry Blodgets nose

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Previous blog posts by Chris F. Masse:

  • We could use a US Gambling And Betting Commission, but the best would be to have prediction exchanges (modeled after BetFair) that alert the sports bodies about any suspicions.
  • Did Patri Friedman misread BetFair?
  • BetFair makes the frontpage of the New York Times –as the White Knight of sports. — Note that the term “prediction markets” is never pronounced. — TradeSports is not mentioned, but the last paragraph of the article suggests that all Internet sports betting should be legal and regulated.
  • In the prediction market timeline, it’s 00:05 am. The most interesting developments of the field of prediction markets are yet to come. Join the Midas Oracle Project.
  • How Midas Oracle got started off…
  • Google Search thinks that Midas Oracle has more value than the New York Times and Freakonomics when the topic is Google’s enterprise prediction markets. How do you like that, Bo? It’s “cool”, no?
  • Using Prediction Markets to Track Information Flows: Evidence from Google — VIDEO — Bo Cowgill on Google’s enterprise prediction markets — O’Reilly Money:Tech

Who is behind the CFTCs request?

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People close to the CFTC say that one reason this is coming now is that the Chairman (who will be retiring soon) wants a legacy &#8212-something he leaves behind that is innovative and that he can be known for pioneering. If that&#8217-s the case, it means that nobody is pressuring them.

Signed: Deep Throat

&#8230- in response to that.

Dont ask the experts. Ask the prediction markets. They know better.

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George Tziralis should have refined a bit the statement he made in the first video below &#8212-statement which I have slightly modified in the title above. We need inputs from the primary, advanced indicators, the experts, and the prediction markets. We need all of that. The prediction markets will never eliminate either the polls or the experts. The prediction markets come as a supplement in the mix.
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Ask Markets

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