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June 7, 2018 | Bad News for 14 Million of Us

Rick Ackerman

Rick Ackerman is the editor of Rick’s Picks, an online service geared to traders of stocks, options, index futures and commodities. His detailed trading strategies have appeared since the early 1990s in Black Box Forecasts, a newsletter he founded that originally was geared to professional option traders. Barron’s once labeled him an “intrepid trader” in a headline that alluded to his key role in solving a notorious pill-tampering case. He received a $200,000 reward when a conviction resulted, and the story was retold on TV’s FBI: The Untold Story. His professional background includes 12 years as a market maker in the pits of the Pacific Coast Exchange, three as an investigator with renowned San Francisco private eye Hal Lipset, seven as a reporter and newspaper editor, three as a columnist for the Sunday San Francisco Examiner, and two decades as a contributor to publications ranging from Barron’s to The Antiquarian Bookman to Fleet Street Letter and Utne Reader.

It’s probably just coincidence, but Facebook is the headliner in the latest social-media scandal sheet just as we were giving Zuckerberg & Company the benefit of the doubt (see the tout below). It would appear that the privacy of 14 million subscribers has been compromised due to the latest online SNAFU.  A software bug reportedly displayed their posts publicly even if they had intended to share them only with friends or a smaller audience.  Good thing Mom doesn’t have a Facebook account.  Trouble is, Mom does have an account and checks it hourly, since not having one in this day and age is akin to not having fingerprints. The glitch reportedly lasted for 10 days in May — enough time, presumably, to have caused at least a few of those affected some embarrassment if not their jobs. Facebook has begun notifying those who were outed, but probably not the old-fashioned way with a phone call. Can you imagine receiving such a call — from a human, that is? It would be a public relations coup for the offending company, but the time and effort required would be equivalent to solving the Tower of Brahma puzzle.

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June 7th, 2018

Posted In: Rick's Picks

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