Jonathan Lebed
Encyclopedia
Jonathan Lebed is an American notorious for using internet technology to hype stocks.
Between September 1999 and February 2000 Lebed made hundreds of thousands of dollars by posting in internet chat rooms and on message boards encouraging people to buy penny stock
s he already owned, thus, according to the SEC, artificially raising the price of the stock. The SEC under Arthur Levitt
prosecuted him. In 2001 Lebed and the SEC negotiated an out-of-court settlement in which Lebed forfeited $285,000 in profit and interest he had made on 11 trades without admitting any wrongdoing — allowing him to keep close to half a million dollars.
The case was controversial — the SEC had never prosecuted a minor — and produced significant media interest. Lebed contended that his activity forecasting stock prices was no different from and no more illegal than what professional Wall Street
analysts do every day, only he utilized the internet. Despite the negative press and SEC inquiry, Lebed continues to trade actively and sends out a free email newsletter on a daily basis in which he gives stock picks. The end of the newsletter often contains a disclaimer like the one below.
Lebed was profiled in an episode of the 2001 BBC
futurism
documentary The Future Just Happened. Lebed is currently the brains behind the National Inflation Association, which its cofounder George Hemminger said is used as an advertising mechanism to build Lebed's database which is then used to promote stocks to those on its mailing list.http://www.youtube.com/watch?v=XYOclEsKHtc&feature=feedu
Between September 1999 and February 2000 Lebed made hundreds of thousands of dollars by posting in internet chat rooms and on message boards encouraging people to buy penny stock
Penny stock
In the United States, penny stocks are common shares of small public companies that trade at less than $1.00. In some countries, similar shares of stock are known as cent stocks.-Concerns for investors:...
s he already owned, thus, according to the SEC, artificially raising the price of the stock. The SEC under Arthur Levitt
Arthur Levitt
Arthur Levitt, Jr. was the twenty-fifth and longest-serving Chairman of the United States Securities and Exchange Commission from 1993 to 2001. Widely hailed as a champion of the individual investor, he has been criticized for not pushing for tougher accounting rules. Since May 2001 he has been...
prosecuted him. In 2001 Lebed and the SEC negotiated an out-of-court settlement in which Lebed forfeited $285,000 in profit and interest he had made on 11 trades without admitting any wrongdoing — allowing him to keep close to half a million dollars.
The case was controversial — the SEC had never prosecuted a minor — and produced significant media interest. Lebed contended that his activity forecasting stock prices was no different from and no more illegal than what professional Wall Street
Wall Street
Wall Street refers to the financial district of New York City, named after and centered on the eight-block-long street running from Broadway to South Street on the East River in Lower Manhattan. Over time, the term has become a metonym for the financial markets of the United States as a whole, or...
analysts do every day, only he utilized the internet. Despite the negative press and SEC inquiry, Lebed continues to trade actively and sends out a free email newsletter on a daily basis in which he gives stock picks. The end of the newsletter often contains a disclaimer like the one below.
My firm Lebed Biz LLC has been compensated by a third-party () $20,000 cash for a one-month IDOI investor relations contract. Never invest into a stock we discuss unless you can afford to lose your entire investment. For our full disclaimer go to: www.lebed.biz/disclaimer.htm
Jonathan Lebed
Lebed.biz
Staff
Lebed was profiled in an episode of the 2001 BBC
BBC
The British Broadcasting Corporation is a British public service broadcaster. Its headquarters is at Broadcasting House in the City of Westminster, London. It is the largest broadcaster in the world, with about 23,000 staff...
futurism
Futurism
Futurism was an artistic and social movement that originated in Italy in the early 20th century.Futurism or futurist may refer to:* Afrofuturism, an African-American and African diaspora subculture* Cubo-Futurism* Ego-Futurism...
documentary The Future Just Happened. Lebed is currently the brains behind the National Inflation Association, which its cofounder George Hemminger said is used as an advertising mechanism to build Lebed's database which is then used to promote stocks to those on its mailing list.http://www.youtube.com/watch?v=XYOclEsKHtc&feature=feedu