This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Who Destroyed the Most Shareholder Value in 2011?: Poll

NEW YORK ( TheStreet) -- From the Arab Spring and the Japanese earthquake and tsunami in the first half of the year to the escalating European debt crisis and the U.S. sovereign debt downgrade in the second half, there was plenty of macro-economic events that drove the stock prices lower in 2011.

We asked our Facebook followers who they thought destroyed the most stock value in 2011. Most readers refused to stop at any one villain and plenty of them blamed Congress and politicians in general for this year's mess. Here's a sampling of some of their comments.

Brent Legendre: High frequency traders. Short sellers. Politicians and world leaders. Lazy Greeks. Freddie and Fannie. Frank and Dodd. Shall I continue?

Carl Maunz: The Greeks, Italians, Merkel, Sarkozy, and American politicians.

Ann McDermot: John Boehner.

Still, a few Wall Street movers and shakers did succeed in hurting shareholders almost single-handedly with their misguided strategies.

Jon Corzine comes to mind for his outsized bet on European Sovereign debt that collapsed as investors lost confidence in the Euro zone and forced MF Global (MF) into bankruptcy. There is also the small matter of the missing customer money of $1.2 billion. Corzine has said he does not know where the money is and that he never "intentionally" intended to authorize the transfer or misuse of customer funds.

Netflix (NFLX - Get Report) CEO Reed Hastings took a series of wrong turns this year that sent shares plummeting from a high of $304 to the current $70 levels. Following the 60% price hike of its popular one DVD-by-mail and unlimited streaming service in September, Netflix lost 800,000 U.S. subscribers in the third quarter. The move angered customers because Netflix raised the prices for DVD customers when the real high costs actually come from its streaming service.

Hastings has already been named as the worst tech CEO in 2011 by TheStreet's readers in a recent poll.

Second in place though were the co- CEOs of Research in Motion (RIMM) Jim Balsillie and Mike Lazaridis. Shares of the Blackberry-maker have plunged 77% in the past year after a string of dismal earnings reports, a half-baked launch for its PlayBook tablet, several product delays and a 3-day outage that caused some users to switch over to iPhone and Android devices.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BAC $16.75 0.12%
DNDN $0.06 -6.02%
NFLX $621.87 -0.18%
AAPL $132.54 0.88%
FB $80.54 0.07%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs