Stock Adviser Knew About 9/11 Attacks, U.S. Suggests

The New York Times ^ | 05/25/2002 | ALEX BERENSON

[AmericaUnited]

This guy is obviously a very shrewd stock market trader.

So, if he knew about the attacks, he would not have put out the memo the day after, advising clients not to sell. He would have been loaded to the gills with shorts, and instead he would have advised everyone to sell, so as to increase his own profits.

This is bogus.

[backhoe]

Cross-link:

Bush and Clinton and 911- some facts...

[thinden]

What stock was he selling I wonder? Hehehe.

I'd be surprised if he held any airlines, insurance companies, or brokerage firms that close to the event.

was prolly trying to get out of the way with prior knowledge that the entire equity market would sell off.

[thinden]

Mr. Elgindy contacted his broker at Salomon Smith Barney and asked him to sell $300,000 in stock in his children's trust funds. During the Sept. 10 conversation, Mr. Elgindy predicted that the Dow Jones industrial average, which at the time stood at about 9,600, would soon crash to below 3,000,

a crash of over 6,600 points on the dow is no "technical correction." anyone "predicting" a sell off of that magnitude would have to factor in a MAJOR channge in the fundamentals of the US economy.

the timing of his attempted liquidation is pretty sinsister. it appears he knew something was scheduled to happen, but he couldn't get his trades off prior to the close. this may indicate his holdings were thinly traded companies with no active markets for their shares. maybe some of his little "short sale candidates".

just my opinion.

[RummyChick]

According to the government, the childrens account that was to be liquidated consisted of longs. The reason it wasn't done had to do with technical aspects of a trust account - perhaps authorization, etc.

I find the whole beirut scenario interesting. Of all the places in the world, he is going to send 700,000 in cash to Beirut to pay for a vacation spot as well as sending all profits from his enterprises to Beirut. That sure does smell.

[RummyChick]

Do some more research on this individual and his personality. It fits with his character to come out to try to "save" the market to help the "little guy" while all the time perhaps he was really short. That is why the trading records will be interesting. Even if he had no significant short position, and even if did some small buying, it doesn't absolve the question of whether he really knew anything.

Putting aside his own personality, think like a criminal. If you are a well known and well followed shorter of Arab descent, are you going to come out screaming to short the market after one of the worst tragedies in the United States when it is believed that Arabs are behind it.

I don't think so.

That is a sure fire way to get yourself investigated.

[RummyChick]

As I said when I first posted this story, it was going to be a significant story. WIth Elgindy, what is published is only a small part of his doings. The RICO statute will help bring a lot of it out. But will we find out or will it be covered up. I know that people contacted the SEC in droves for years about Elgindy and they never did anything. The person who went to Kosovo wrote some damning posts about Elgindy. But of course, they were deleted and are not retrievable by us. Silicon Investor let this jack ass terrorize people for years. THey should be investigated as well

I agree with the following person:

"It would be wise for the SEC to look into their backyard to see if any of their boys fed Tony info about companies they investigated. If Tony got the nerve to use his tactics with the FBI, common sense tell you he would also tried the same with the SEC.

If there were any chance the allegation about his involvement with the Al-Quada is not a fabrication, then the CIA may want to look into their backyard as well. While they are at it, may be the White House needs to do a house cleaning also, just in case if his brother also fed him valuable info." http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=17515897

[Registered]

Interesting stuff here pal.

[RedWhiteBlue]

He would have been loaded to the gills with shorts, and instead he would have advised everyone to sell, so as to increase his own profits.

My take on this is that the guy was a stock advisor, that he made his money by being paid by clients simply to recieve his advise. I don't think he made money by convincing anyone to buy or sell. They had to take his advise (or not take it) and make the move themselves through their brokerage. Note that he did not handle that aspect for his children's accounts, he asked Solomon Smith Barney to handle that procedure for him.

[RummyChick]

He made money in many ways. I think in the end..it was all just part of the machine he built to influence his own positions and possibly to give himself leverage . He had a very vitrolic and forceful way about him and he would send his minions out to the message boards to do damage to the stock..which is why all of those people better be seeking legal help because the RICO statute is a very harsh statute.

One person had speculation about all the possible scenarios..and one of the speculations was that he was part of a plan to try to bring down the US economy. I am not sure that I would go that far, but who knows how far and how high up this will unravel. I have been trying to find out some possible reasons why he would flee to Beirut. In doing the research on Google, I have come up with interesting writings of a Khaled Elgindy. Very pro palestine

http://www.washington-report.org/backissues/0499/990400.html

[RummyChick]

INteresting article on Lebanon, assets, and the war on terrorism...

http://www.meib.org/articles/0110_l2.htm

[HAL9000]

Yeah, I saw this article earlier. The judge need more evidence to establish that Elgindy had prior knowledge of the attack, but the FBI looks untrustworthy in this case since some agents were in on the scam. The statement of the senior agents that they have no evidence about it is not totally convincing due to the allegations that the FBI has been deleting relevant information to judges in other cases.

[RummyChick]

Take a look at this post outlining what Tony "said" versus what he "did":

http://www.siliconinvestor.com/stocktalk/msg.gsp?msgid=17516302

Perfect example of why whatever you read that is written by Elgindy must be questioned as to the veracity and agenda.

[RummyChick]

There is a video of a news story in one of the links I posted. Someone, I presume with the Feds, was saying that it was still under investigation. The mail fraud disability mess was brought against him right as the statute of limitations was about to run out. THat won't be the case this time because of 9/11 and all the pressures surrounding it...however, it makes you wonder what this guy would have gotten away with if 9/11 hadn't happened.

I think this is a huge scandal waiting to unfurl..it is just a matter of how much of it will be disclosed.

[RummyChick]

Here is another little tidbit of info

Another poster, Barbara Simon, on Silicon INvestor went by the name of "jenna". She was one of the most book marked posters and ran a stock picking service named Market Gems. She had many battles of the ego with TOny

Oh, by the way,

Her husband is a retired FBI agent.

[SarahW]

Muslim, born in Egypt, and wants to unload stock on Sept 10.

Good enough for me. I hope they fry his *.

[RummyChick]

Go to this link. Look at the Khaled Elgindy section...notice the word "jihad"

http://www.pakistanlink.com/Opinion/2000/July/21/04.html

[justshutupandtakeit]

Short-sellers do not borrow stock from its owners. They collude with brokers who steal it from their margin customers and allow parasites to sell it thereby undermining the customers who own it. This is a major sickness in the capitalist system which must be eliminated.

It is legal stock manipulation perpetrated on the unknowing.

[RummyChick]

Here is another interesting article. About the middle of the page there is information on Elgindy with a post from him stating what he was going to do after 9/11. INteresting that he somehow forgot to mention that he was liquidating his childrens trust fund

http://www.onthecanvas.com/toppage13.htm

The irony on this website is the following quote from his brother when talking about a lobby for Israel: "And sometimes they wield their power arrogantly, which may prove to be their Achilles Heel."

It reminds me of his brother

[RummyChick]

Here are a couple of posts that bear investigating to see the veracity:

http://ragingbull.lycos.com/mboard/boards.cgi?board=AZNT&read=129112

http://ragingbull.lycos.com/mboard/boards.cgi?board=AZNT&read=129142

http://ragingbull.lycos.com/mboard/boards.cgi?board=AZNT&read=129151

essam elgindy is a chess player but I dont know if it is any relation and I dont understand the 'piccadilly' reference