I guess I'll be pilloried for this or burned at the stake, at least:
I think it's distinctly unfair to blame Herda for the independent acts of an imbecile. Herda could not have benefited from the transaction and therefore, he was not part of it. Just my opinion.
I know two facts. 1) Technogenius lived in a large house in a very nice neighborhood. 2) He tried to borrow money at the broker's equivalent of a pawn shop. Considered together, these things tell us that he was probably living beyond his means and was not credit worthy.
If you consider the time frame of these incidents, the stock market crash was already in progress. From memory, I recall Mr. Technogenius telling us that "other people" were getting margin calls. Suppose HE had more direct knowledge of margin calls than he admitted to? Suppose HE needed cash to cover them?? Then, suppose HE got knee capped by someone of his own social caste??? It wouldn't be pretty.
I think events are explained satisfactorily by giving full credit to RS. I note that he is no longer an influence on the company so his loss was probably catastrophic. May he live long with a persistent itch...
