Herman Cain recommends housing stock on Fox News, stock then plunges 98% in valueSubmitted by ron_paul_is_awesome on Thu, 10/13/2011 - 08:29
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.
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.
Here's the transcript of Cain on Fox in 2006:
Stock symbol is BZH. Look it up for yourself.