Not too long ago, I had questioned the behavior of S P Tulsian and the TV channel pampering and beaming his sick advise, CNBC-TV 18.
SEBI has unearthed a Mini-Scandal involving Mathew Easow’s stock tipping on MoneyControl(CNBC TV18 group company).
Modus Operandi of Matthew Easow:
Matthew Easow would buy stocks a week to 10 days in advance and then come out on CNBC’s MoneyControl and give a BUY recommendation and when you small investors would BUY, he would SELL. In case of Kalpana Industries Ltd, Matthew had accumulated the stock from 02-09-2006 and then gave a BUY recommendation on the tainted MoneyControl on 13-09-2006 and on the very same day he sold 13,500 shares even before the target price he mentioned was achieved. Other stocks in this mini scandal are, Albert David , Alhcon Parent and CESC Limited.
SEBI investigated the entire issue and fined rs20 Lakhs on Matthew Easow. Read the entire findings of SEBI here. I have lost respect for CNBC TV 18 and it’s group company MoneyControl for focusing shady brokers and researchers like Matthew.
Small investors, kindly stick to good and fundamental investing values. AVOID StockTips.