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Herman Cain recommends housing stock on Fox News, stock then plunges 98% in value

Tim Iacono from Seeking Alpha writes the following:

After watching the ascent of GOP hopeful Herman Cain over the last month or two, I couldn't help but think that his name had graced the pages of my blog before, and a simple search turned up this story from 2006, in which it becomes clear that, if Cain is elected to the nation's top political post next year, hopefully he'll do a better job running the country than he did picking stocks, as the housing bubble was about to burst. The 2006 article, in its entirety, follows.

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For those who have not already looked up the share price for Beazer Homes, there's good news and bad news. The good news is that it's up over 6 percent today. The bad news is that, had you bought on Herman's recommendation and held it until today, you'd be down about 98 percent, since it's now trading at $1.67 per share.

http://seekingalpha.com/article/299236-herman-cain-s-2006-in...

Here's the transcript of Cain on Fox in 2006:
http://www.foxnews.com/story/0,2933,182505,00.html

Stock symbol is BZH. Look it up for yourself.

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DISCLAIMER: THE FOLLOWING

DISCLAIMER: THE FOLLOWING "Cost of Freedom Recap" CONTAINS STRONG OPINIONS WHICH ARE NOT A REFLECTION OF THE OPINIONS OF FOX NEWS AND SHOULD NOT BE RELIED UPON AS INVESTMENT ADVICE WHEN MAKING PERSONAL INVESTMENT DECISIONS. IT IS FOX NEWS' POLICY THAT CONTRIBUTORS DISCLOSE POSITIONS THEY HOLD IN STOCKS THEY DISCUSS, THOUGH POSITIONS MAY CHANGE. READERS OF "Cost of Freedom Recap" MUST TAKE RESPONSIBILITY FOR THEIR OWN INVESTMENT DECISIONS.

Read more: http://www.foxnews.com/story/0,2933,182505,00.html#ixzz1agfk...

OK, he didn't literally recommend

that people buy the stock, fair enough, but the stock had his seal of approval above all other stocks, and he chose to advertise that approval to a national TV audience. Not the biggest argument against a Cain's presidency out there, but if people are going to dump on Ron Paul's investments in gold mining stocks which have actually made a lot of money, Cain deserves at least a little flak for this. And it shows once again his ignorance of the housing bubble, which he dismissed at another point during the interview.

Your totally right, there

Your totally right, I was just implying that there should be a disclaimer on Herman Cains candidacy:)