I don't think he's an idiot, he's doing what he's asked to do, which is manipulate the share price. And whether we like or not, what he writes - however ridiculous it is - does shift the stock, usually down, at least for a few hours or so.
As said by several today, the whole market is rigged in Wall Street's favour. Shame their's no oversight of US markets by some kind of government agency, because there's a lot of low-hanging fruit they could pick here - it's obvious to us, for a regulator with access to the data it would be a simple matter to prove it.
Agreed. The timing of Jonas’ recommendations would cause any regulator paying attention to open an investigation. But getting someone to pay attention is challenging when there are so many miscreants out there.
I did my part today to try to bring attention to Jonas by writing my Congressperson and copying the top legal counsel at Morgan Stanley. The SEC is an overgrown bureaucracy, but the people I’m writing to just might read it.