As I revealed yesterday, the eternally-bumbling Motley Fool writer Jordan Wathen finally went too far. In what appears to be an intentional “mistake”, Wathen falsely reported that a NYC taxi medallion was sold out of foreclosure for $325,545 and that it represented 100% of the taxi medallion value.
In truth, according to both a statement released by the NYC TLC and private correspondence with the Deputy Commissioner of Public Affairs, the sale represented 50% of the value of the medallion.
The Motley Fool has retracted the article in its entirety. Crain’s New York, which referred to the article as the basis for another story, corrected its headline and the body of its article.
The trouble with the internet is that publications will often just hire any monkey who can type on a keyboard in order to push content out. The Motley Fool has a brand stretching back 20 years, and I can’t believe that Jordan Wathen has been permitted to publish there, given how often his articles are filled with shoddy analysis.
The Motley Fool should heed my advice and fire Jordan Wathen. He has embarrassed himself, he has embarrassed the Motley Fool brand, and has proven beyond the shadow of a doubt that he does not know what he is talking about.