Wednesday, January 29, 2014

Senator Markey Mark Feels the Vibrations

Quick update on the Senator Markey Mark, Pershing Square, and NYPost/Celarier imbroglio that cracked open after John Hempton brought forth the rhythm and the rhyme. Celarier is adamantly denying any sort of collusion and that she simply downloaded her Markey letter from his website after Reuters broke the news.
She's saying that any difference is attributable to Markey's team modifying the letter and the website after she'd downloaded it.

Ever being the pain in the ass, I did a little more digging. You can see in the chart below that up to around 9:51 on that Thursday morning everything was hunky dory in the stock, although it certainly looks like news was slipping out prior to that point. And then, you can see the catastrophic hit the stock took after the news broke. Close to 1M shares traded in a single three minute window from 10:00-10:03(with a low of $62.33/share). 

You can also clearly see below the timestamp on Celarier's story in the NY Post (11:51am). 

And again you can also clearly see the upload information for the letter she posted to Scribd. Although it doesn't timestamp the upload it was uploaded that same day(Posted by the NY Post on Jan 23).

Where we cross over to the wildside (sorry but I can't resist the Marky Mark refs) and gets really interesting for Celarier, Ackman and Senator Markey is that the page that Senator Markey posted his letter to was last modified on the morning of January 23rd at 09:45:27am, before the story broke and thus before Celarier would have downloaded it.

So, if Markey last updated the site before Reuters broke the story and Celarier got the letter from Markey's site after Reuters broke the story, they why is Celarier's and Ackman's identical letters any different from the letter we can all download from Senator Markey (which was last modified at 09:45:27am before the story broke)?

There you go, clear as the Klondike ice that her CCB reporting should be entombed in.

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